1,798 Shares in Casey's General Stores, Inc. $CASY Purchased by Barden Capital Management Inc.

Key Points

• Barden Capital Management acquired 1,798 Casey’s General Stores shares worth approximately $1.43 million, making CASY its 15th-largest holding and about 1.3% of its portfolio. Institutional investors collectively own 85.63% of the company.
• Wall Street maintains a favorable outlook, with 14 analysts rating CASY a Buy and six a Hold. The stock has a “Moderate Buy” consensus rating and an average price target of $944.20.
• Casey’s reported quarterly revenue growth of 14.5% and EPS of $4.37, exceeding estimates, while raising its quarterly dividend to $0.65 per share. Meanwhile, company insiders sold 30,243 shares worth approximately $24.4 million over the past 90 days.

Barden Capital Management Inc. bought a new position in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,798 shares of the company's stock, valued at approximately $1,429,000. Casey's General Stores comprises approximately 1.3% of Barden Capital Management Inc.'s portfolio, making the stock its 15th biggest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of CASY. Global Retirement Partners LLC bought a new stake in Casey's General Stores during the second quarter worth about $996,000. Bank of New York Mellon Corp purchased a new position in shares of Casey's General Stores during the second quarter worth approximately $281,011,000. Focus Partners Advisor Solutions LLC purchased a new position in shares of Casey's General Stores during the second quarter worth approximately $4,380,000. Bellars Harris Wealth Management LLC bought a new stake in shares of Casey's General Stores in the 2nd quarter worth approximately $5,046,000. Finally, GSA Capital Partners LLP bought a new stake in shares of Casey's General Stores in the 2nd quarter worth approximately $3,397,000. Hedge funds and other institutional investors own 85.63% of the company's stock.

Insider Buying and Selling

In other Casey's General Stores news, CEO Darren M. Rebelez sold 19,000 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $801.46, for a total value of $15,227,740.00. Following the completion of the transaction, the chief executive officer owned 89,174 shares in the company, valued at approximately $71,469,394.04. This represents a 17.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Katrina S. Lindsey sold 2,000 shares of the stock in a transaction 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 completion of the transaction, the insider owned 6,668 shares of the company's stock, valued at approximately $5,334,400. This trade represents a 23.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 30,243 shares of company stock valued at $24,421,877 over the last 90 days. 0.67% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CASY has been the subject of a number of research reports. Stephens set a $975.00 price objective on shares of Casey's General Stores and gave the company an "overweight" rating in a research note on Friday, June 12th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $1,000.00 price target on shares of Casey's General Stores in a research note on Monday, June 15th. Evercore reiterated an "outperform" rating and issued a $990.00 price objective on shares of Casey's General Stores in a report on Friday, June 12th. William Blair started coverage on Casey's General Stores in a research note on Wednesday, May 20th. They issued an "outperform" rating for the company. Finally, BMO Capital Markets upgraded Casey's General Stores from a "market perform" rating to an "outperform" rating and set a $950.00 price target on the stock in a research report on Monday, June 29th. Fourteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Casey's General Stores has a consensus rating of "Moderate Buy" and an average target price of $944.20.

Casey's General Stores Price Performance

Shares of NASDAQ:CASY opened at $846.45 on Monday. The stock's 50-day moving average is $837.57 and its 200 day moving average is $768.85. The company has a market cap of $31.33 billion, a PE ratio of 44.18, a P/E/G ratio of 2.54 and a beta of 0.61. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.60. Casey's General Stores, Inc. has a 1 year low of $490.00 and a 1 year high of $927.85.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, topping the consensus estimate of $3.31 by $1.06. Casey's General Stores had a return on equity of 18.73% and a net margin of 4.07%.The business had revenue of $4.57 billion during the quarter, compared to analysts' expectations of $4.33 billion. During the same quarter last year, the business posted $2.63 EPS. The business's revenue was up 14.5% on a year-over-year basis. Sell-side analysts anticipate 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 was paid on Friday, August 14th. Investors of record on Saturday, August 1st were given a dividend of $0.65 per share. This is a boost from Casey's General Stores's previous quarterly dividend of $0.57. This represents a $2.60 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Friday, July 31st. Casey's General Stores's dividend payout ratio is presently 13.57%.

Casey's General Stores Profile

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.

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