Bank of Nova Scotia Has $2.87 Million Holdings in Casey's General Stores, Inc. $CASY

Bank of Nova Scotia raised its position in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 201.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,941 shares of the company's stock after acquiring an additional 2,635 shares during the period. Bank of Nova Scotia's holdings in Casey's General Stores were worth $2,868,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in Casey's General Stores by 7.4% in the 4th quarter. Geode Capital Management LLC now owns 760,438 shares of the company's stock worth $420,416,000 after purchasing an additional 52,250 shares in the last quarter. Burns J W & Co. Inc. NY grew its position in shares of Casey's General Stores by 103.5% during the 1st quarter. Burns J W & Co. Inc. NY now owns 2,448 shares of the company's stock worth $1,782,000 after purchasing an additional 1,245 shares in the last quarter. North Dakota State Investment Board acquired a new position in shares of Casey's General Stores during the 4th quarter worth approximately $720,000. Jackson Creek Investment Advisors LLC bought a new position in shares of Casey's General Stores during the fourth quarter worth approximately $1,338,000. Finally, Teachers Retirement System of The State of Kentucky increased its holdings in shares of Casey's General Stores by 52.0% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 17,079 shares of the company's stock worth $12,431,000 after purchasing an additional 5,846 shares during the period. Institutional investors and hedge funds own 85.63% of the company's stock.

Insider Activity at Casey's General Stores

In other Casey's General Stores news, insider Katrina S. Lindsey sold 2,000 shares of the company's stock in a transaction dated 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 $5,334,400. This represents a 23.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Allison M. Wing sold 530 shares of the company's stock in a transaction dated 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 directly owned 3,042 shares of the company's stock, valued at approximately $2,547,918.36. The trade was a 14.84% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 30,243 shares of company stock valued at $24,421,877. 0.67% of the stock is owned by company insiders.

Casey's General Stores Stock Up 0.4%

CASY stock opened at $856.86 on Wednesday. The firm has a 50-day moving average price of $821.71 and a 200-day moving average price of $747.62. Casey's General Stores, Inc. has a 12 month low of $490.00 and a 12 month 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. The stock has a market capitalization of $31.71 billion, a P/E ratio of 44.72, a price-to-earnings-growth ratio of 2.56 and a beta of 0.62.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.31 by $1.06. The company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.33 billion. Casey's General Stores had a net margin of 4.07% and a return on equity of 18.73%. The firm's revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.63 EPS. As a group, equities research analysts anticipate that Casey's General Stores, Inc. will post 21.14 EPS for the current fiscal year.

Casey's General Stores Increases Dividend

The business 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 a boost 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 currently 11.90%.

Analysts Set New Price Targets

Several brokerages recently issued reports on CASY. UBS Group boosted their price target on Casey's General Stores from $805.00 to $945.00 and gave the company a "neutral" rating in a research note on Thursday, June 11th. Evercore restated an "outperform" rating and set a $990.00 price objective on shares of Casey's General Stores in a research note on Friday, June 12th. Royal Bank Of Canada lifted their price objective on Casey's General Stores from $794.00 to $850.00 and gave the company a "sector perform" rating in a report on Thursday, June 25th. Capital One Financial assumed coverage on Casey's General Stores in a research report on Monday, June 22nd. They set an "equal weight" rating and a $896.00 target price for the company. Finally, Wall Street Zen raised Casey's General Stores from a "hold" rating to a "buy" rating in a report on Saturday, June 13th. Fourteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.