First Western Trust Bank Makes New Investment in Casey's General Stores, Inc. (NASDAQ:CASY)

Key Points

• First Western Trust Bank acquired 495 shares of Casey's General Stores, valued at approximately $215,000, marking a new investment in the company.
• Analysts have raised target prices for Casey's General Stores, with BMO Capital Markets increasing its target from $450 to $515, reflecting positive sentiment among analysts.
• The company announced an increase in its quarterly dividend from $0.50 to $0.57 per share, demonstrating financial growth and commitment to returning value to shareholders.

First Western Trust Bank bought a new stake in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 495 shares of the company's stock, valued at approximately $215,000.

Other large investors have also recently bought and sold shares of the company. Versant Capital Management Inc acquired a new position in Casey's General Stores during the 1st quarter valued at about $25,000. Global Financial Private Client LLC grew its stake in shares of Casey's General Stores by 325.0% in the 1st quarter. Global Financial Private Client LLC now owns 68 shares of the company's stock worth $30,000 after purchasing an additional 52 shares during the last quarter. Iron Horse Wealth Management LLC grew its stake in shares of Casey's General Stores by 40.0% in the 1st quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company's stock worth $40,000 after purchasing an additional 26 shares during the last quarter. Whipplewood Advisors LLC grew its stake in shares of Casey's General Stores by 160.0% in the 1st quarter. Whipplewood Advisors LLC now owns 117 shares of the company's stock worth $51,000 after purchasing an additional 72 shares during the last quarter. Finally, Wayfinding Financial LLC acquired a new position in shares of Casey's General Stores in the 1st quarter worth approximately $59,000. Institutional investors and hedge funds own 85.63% of the company's stock.

Casey's General Stores Stock Performance

Shares of CASY traded down $5.77 during midday trading on Thursday, reaching $509.32. 57,339 shares of the stock were exchanged, compared to its average volume of 352,634. Casey's General Stores, Inc. has a twelve month low of $350.52 and a twelve month high of $531.24. The company has a quick ratio of 0.48, a current ratio of 0.92 and a debt-to-equity ratio of 0.69. The company has a market cap of $18.94 billion, a P/E ratio of 34.85 and a beta of 0.69. The stock's 50 day simple moving average is $510.56 and its 200 day simple moving average is $458.97.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its earnings results on Monday, June 9th. The company reported $2.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.94 by $0.69. The firm had revenue of $3.99 billion for the quarter, compared to analysts' expectations of $3.95 billion. Casey's General Stores had a return on equity of 16.28% and a net margin of 3.43%. The business's revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.34 earnings per share. On average, sell-side analysts expect that Casey's General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey's General Stores Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be issued a $0.57 dividend. The ex-dividend date is Friday, August 1st. This is a boost from Casey's General Stores's previous quarterly dividend of $0.50. This represents a $2.28 annualized dividend and a yield of 0.4%. Casey's General Stores's dividend payout ratio (DPR) is currently 15.57%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CASY. Wall Street Zen raised shares of Casey's General Stores from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. KeyCorp raised their price target on shares of Casey's General Stores from $550.00 to $575.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. The Goldman Sachs Group raised their price target on shares of Casey's General Stores from $385.00 to $450.00 and gave the stock a "neutral" rating in a report on Wednesday, June 11th. Wells Fargo & Company lifted their target price on shares of Casey's General Stores from $460.00 to $540.00 and gave the company an "overweight" rating in a research note on Wednesday, June 11th. Finally, Royal Bank Of Canada lifted their target price on shares of Casey's General Stores from $468.00 to $542.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $467.33.

Insiders Place Their Bets

In other Casey's General Stores news, insider Katrina S. Lindsey sold 2,000 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $506.07, for a total transaction of $1,012,140.00. Following the transaction, the insider directly owned 4,636 shares in the company, valued at approximately $2,346,140.52. This represents a 30.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Chad Michael Frazell sold 4,808 shares of the stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $503.97, for a total value of $2,423,087.76. Following the completion of the transaction, the insider owned 11,480 shares in the company, valued at approximately $5,785,575.60. This represents a 29.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,646 shares of company stock valued at $22,136,614 over the last three months. Insiders own 0.54% of the company's stock.

Casey's General Stores Company Profile

Casey's General Stores, Inc engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.