Argent Trust Co Has $611,000 Position in Casey's General Stores, Inc. (NASDAQ:CASY)

Key Points

• Argent Trust Co increased its stake in Casey's General Stores by 74.5%, now holding 1,408 shares valued at approximately $611,000.
• Casey's General Stores has received several positive ratings from analysts, with a current average rating of "Moderate Buy" and a consensus price target of $467.33.
• The company has announced a quarterly dividend increase to $0.57 per share, up from the previous $0.50, with a dividend yield of 0.4%.

Argent Trust Co increased its holdings in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 74.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,408 shares of the company's stock after acquiring an additional 601 shares during the quarter. Argent Trust Co's holdings in Casey's General Stores were worth $611,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of Nova Scotia raised its stake in Casey's General Stores by 4.3% during the 1st quarter. Bank of Nova Scotia now owns 1,300 shares of the company's stock valued at $564,000 after acquiring an additional 54 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Casey's General Stores by 699.6% in the first quarter. PNC Financial Services Group Inc. now owns 126,845 shares of the company's stock valued at $55,056,000 after purchasing an additional 110,982 shares during the period. UNIVEST FINANCIAL Corp purchased a new stake in shares of Casey's General Stores during the first quarter worth approximately $1,444,000. Blueshift Asset Management LLC raised its stake in shares of Casey's General Stores by 50.4% during the first quarter. Blueshift Asset Management LLC now owns 1,041 shares of the company's stock worth $452,000 after purchasing an additional 349 shares during the last quarter. Finally, Commerce Bank lifted its holdings in shares of Casey's General Stores by 7.1% during the first quarter. Commerce Bank now owns 12,523 shares of the company's stock worth $5,435,000 after purchasing an additional 833 shares during the period. Hedge funds and other institutional investors own 85.63% of the company's stock.

Casey's General Stores Trading Up 0.2%

Shares of NASDAQ CASY traded up $1.20 on Friday, reaching $519.48. 103,268 shares of the company traded hands, compared to its average volume of 357,213. The stock has a market capitalization of $19.31 billion, a PE ratio of 35.48 and a beta of 0.69. Casey's General Stores, Inc. has a fifty-two week low of $350.52 and a fifty-two week high of $531.24. The company has a current ratio of 0.92, a quick ratio of 0.48 and a debt-to-equity ratio of 0.69. The company has a 50 day moving average of $504.53 and a 200 day moving average of $455.89.

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

Casey's General Stores Increases Dividend

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

Analyst Ratings Changes

Several equities analysts have issued reports on CASY shares. Stephens reissued an "overweight" rating and issued a $490.00 price objective on shares of Casey's General Stores in a research note on Tuesday, June 10th. Wells Fargo & Company lifted their price target on shares of Casey's General Stores from $460.00 to $540.00 and gave the company an "overweight" rating in a research report on Wednesday, June 11th. KeyCorp boosted their price objective on shares of Casey's General Stores from $550.00 to $575.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Royal Bank Of Canada upped their price target on shares of Casey's General Stores from $468.00 to $542.00 and gave the company a "sector perform" rating in a report on Wednesday, July 9th. Finally, The Goldman Sachs Group raised their price objective on shares of Casey's General Stores from $385.00 to $450.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $467.33.

Insider Buying and Selling

In other Casey's General Stores news, insider Thomas P. Brennan, Jr. sold 6,600 shares of Casey's General Stores stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $506.03, for a total value of $3,339,798.00. Following the transaction, the insider owned 2,100 shares in the company, valued at approximately $1,062,663. The trade was a 75.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Stephen P. Bramlage, Jr. sold 8,478 shares of Casey's General Stores stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $509.21, for a total transaction of $4,317,082.38. Following the completion of the transaction, the chief financial officer directly owned 26,754 shares in the company, valued at approximately $13,623,404.34. This trade represents a 24.06% 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 90 days. 0.54% of the stock is owned by corporate insiders.

Casey's General Stores 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.