ABN Amro Investment Solutions Purchases New Stake in Casey’s General Stores, Inc. $CASY

ABN Amro Investment Solutions bought a new position in Casey’s General Stores, Inc. (NASDAQ:CASY) in the first quarter, according to its most recent disclosure with the SEC. The firm bought 1,354 shares of the company’s stock, valued at approximately $986,000.

Several other institutional investors have also modified their holdings of the stock. Whipplewood Advisors LLC acquired a new stake in Casey’s General Stores during the first quarter worth about $33,000. ORG Partners LLC boosted its holdings in Casey’s General Stores by 47.6% in the 4th quarter. ORG Partners LLC now owns 62 shares of the company’s stock valued at $34,000 after purchasing an additional 20 shares during the last quarter. Larson Financial Group LLC boosted its holdings in Casey’s General Stores by 252.4% in the 4th quarter. Larson Financial Group LLC now owns 74 shares of the company’s stock valued at $41,000 after purchasing an additional 53 shares during the last quarter. Elyxium Wealth LLC purchased a new stake in shares of Casey’s General Stores in the 4th quarter valued at approximately $43,000. Finally, Osterweis Capital Management Inc. purchased a new stake in shares of Casey’s General Stores in the 2nd quarter valued at approximately $45,000. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Stock Down 1.6%

Shares of NASDAQ:CASY opened at $861.63 on Friday. The firm has a market capitalization of $31.89 billion, a PE ratio of 44.97, a price-to-earnings-growth ratio of 2.58 and a beta of 0.62. Casey’s General Stores, Inc. has a 1 year low of $490.00 and a 1 year high of $927.85. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.60. The firm’s 50-day moving average is $821.67 and its two-hundred day moving average is $742.33.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, beating the consensus estimate of $3.31 by $1.06. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. The business had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.33 billion. During the same quarter last year, the firm posted $2.63 earnings per share. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. Analysts predict that Casey’s General Stores, Inc. will post 21.14 EPS for the current year.

Casey’s General Stores Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Saturday, August 1st will be issued a dividend of $0.65 per share. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, July 31st. This represents a $2.60 annualized dividend and a yield of 0.3%. Casey’s General Stores’s dividend payout ratio (DPR) is presently 11.90%.

Insider Buying and Selling

In other news, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $838.16, for a total transaction of $4,777,512.00. Following the sale, the chief financial officer owned 29,677 shares of the company’s stock, valued at approximately $24,874,074.32. This trade represents a 16.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Katrina S. Lindsey sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $800.00, for a total value of $1,600,000.00. Following the sale, the insider owned 6,668 shares of the company’s stock, valued at approximately $5,334,400. The trade was a 23.07% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 30,243 shares of company stock worth $24,421,877. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CASY. KeyCorp lifted their price target on shares of Casey’s General Stores from $950.00 to $970.00 and gave the company an “overweight” rating in a research report on Thursday, June 11th. JPMorgan Chase & Co. raised their target price on Casey’s General Stores from $719.00 to $975.00 and gave the stock a “neutral” rating in a research note on Friday, June 12th. Wall Street Zen upgraded Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Weiss Ratings lowered Casey’s General Stores from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday. Finally, BNP Paribas Exane lowered their price target on Casey’s General Stores from $1,032.00 to $995.00 and set an “outperform” rating for the company in a report on Thursday, June 25th. Fourteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Casey’s General Stores currently has an average rating of “Moderate Buy” and a consensus price target of $940.00.

About Casey’s General Stores

Casey’s General Stores, Inc (NASDAQ: CASY) is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.