Amundi Purchases 32,883 Shares of Casey's General Stores, Inc. $CASY

Key Points

• Amundi significantly increased its Casey’s General Stores stake by purchasing 32,883 additional shares in the first quarter, bringing its holdings to 34,580 shares worth approximately $25.2 million. Institutional investors collectively own 85.63% of the company.
• Casey’s reported strong quarterly results, with earnings of $4.37 per share and revenue of $4.57 billion, exceeding analyst estimates; revenue rose 14.5% year over year.
• The company raised its quarterly dividend to $0.65 per share, while analysts maintain a “Moderate Buy” consensus with an average price target of $944.20. However, insiders sold more than 30,000 shares worth $24.4 million over the past three months.

Amundi increased its position in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 1,937.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,580 shares of the company's stock after buying an additional 32,883 shares during the period. Amundi owned 0.09% of Casey's General Stores worth $25,169,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its position in shares of Casey's General Stores by 49.2% in the first quarter. EverSource Wealth Advisors LLC now owns 470 shares of the company's stock valued at $342,000 after buying an additional 155 shares during the last quarter. California State Teachers Retirement System increased its holdings in shares of Casey's General Stores by 22.4% during the 1st quarter. California State Teachers Retirement System now owns 43,132 shares of the company's stock worth $31,394,000 after acquiring an additional 7,886 shares during the last quarter. Empowered Funds LLC raised its stake in Casey's General Stores by 886.4% in the 1st quarter. Empowered Funds LLC now owns 5,593 shares of the company's stock valued at $4,071,000 after acquiring an additional 5,026 shares during the period. Weiss Asset Management LP bought a new stake in Casey's General Stores in the 1st quarter valued at $346,000. Finally, OMERS ADMINISTRATION Corp acquired a new stake in Casey's General Stores during the 1st quarter valued at $1,628,000. 85.63% of the stock is owned by institutional investors.

Casey's General Stores Trading Down 1.2%

Shares of Casey's General Stores stock opened at $860.37 on Tuesday. The firm's 50 day moving average is $824.49 and its 200 day moving average is $755.22. The firm has a market capitalization of $31.84 billion, a PE ratio of 44.90, a price-to-earnings-growth ratio of 2.61 and a beta of 0.61. 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 current ratio of 1.01, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $4.57 billion for the quarter, compared to analysts' expectations of $4.33 billion. During the same quarter in the previous year, the firm posted $2.63 earnings per share. The company's revenue was up 14.5% on a year-over-year basis. Equities research analysts forecast that Casey's General Stores, Inc. will post 21.14 earnings per share for the current fiscal year.

Casey's General Stores Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Saturday, August 1st will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.3%. This is an increase from Casey's General Stores's previous quarterly dividend of $0.57. The ex-dividend date is Friday, July 31st. Casey's General Stores's dividend payout ratio (DPR) is presently 13.57%.

Insider Buying and Selling

In other news, Director Allison M. Wing sold 530 shares of the company's stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $837.58, for a total value of $443,917.40. Following the completion of the transaction, the director owned 3,042 shares of the company's stock, valued at $2,547,918.36. This represents a 14.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Chad Michael Frazell sold 3,013 shares of the firm's stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $787.49, for a total transaction of $2,372,707.37. Following the completion of the transaction, the insider owned 9,823 shares of the company's stock, valued at approximately $7,735,514.27. This trade represents a 23.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 30,243 shares of company stock valued at $24,421,877 over the last three months. Insiders own 0.67% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on CASY. UBS Group raised their price objective on shares of Casey's General Stores from $805.00 to $945.00 and gave the stock a "neutral" rating in a research report on Thursday, June 11th. The Goldman Sachs Group increased their target price on Casey's General Stores from $695.00 to $795.00 and gave the stock a "neutral" rating in a research note on Thursday, June 25th. Wolfe Research reissued an "outperform" rating and set a $1,069.00 price target on shares of Casey's General Stores in a report on Thursday, June 11th. Northcoast Research upgraded Casey's General Stores from a "neutral" rating to a "buy" rating and set a $950.00 price target for the company in a research note on Monday, July 13th. Finally, Weiss Ratings downgraded Casey's General Stores from a "buy (b+)" rating to a "buy (b)" rating in a research note on Tuesday, July 21st. Fourteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Casey's General Stores presently has an average rating of "Moderate Buy" and an average price target of $944.20.

Casey's General Stores Company 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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