12,760 Shares in Casey's General Stores, Inc. $CASY Acquired by Caisse DE Depot ET Placement DU Quebec

Key Points

• Caisse DE Depot ET Placement DU Quebec has acquired a new stake in Casey's General Stores, Inc., purchasing 12,760 shares valued at approximately $5.54 million.
• Casey's reported a quarterly earnings per share (EPS) of $2.63, exceeding expectations and showing a year-over-year revenue increase of 10.9%.
• The company has announced a quarterly dividend increase from $0.50 to $0.57 per share, with a current dividend yield of 0.5%.

Caisse DE Depot ET Placement DU Quebec purchased a new stake in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 12,760 shares of the company's stock, valued at approximately $5,538,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Flagship Harbor Advisors LLC increased its stake in shares of Casey's General Stores by 4.1% in the 1st quarter. Flagship Harbor Advisors LLC now owns 590 shares of the company's stock valued at $256,000 after purchasing an additional 23 shares during the last quarter. Burns J W & Co. Inc. NY increased its stake in shares of Casey's General Stores by 2.1% in the 1st quarter. Burns J W & Co. Inc. NY now owns 1,204 shares of the company's stock valued at $522,000 after purchasing an additional 25 shares during the last quarter. Sunbelt Securities Inc. increased its stake in shares of Casey's General Stores by 1.4% in the 1st quarter. Sunbelt Securities Inc. now owns 1,870 shares of the company's stock valued at $812,000 after purchasing an additional 26 shares during the last quarter. Iron Horse Wealth Management LLC increased 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 valued at $40,000 after purchasing an additional 26 shares during the last quarter. Finally, Menard Financial Group LLC increased its stake in shares of Casey's General Stores by 2.1% in the 1st quarter. Menard Financial Group LLC now owns 1,290 shares of the company's stock valued at $603,000 after purchasing an additional 27 shares during the last quarter. Institutional investors own 85.63% of the company's stock.

Insider Buying and Selling

In other news, insider Thomas P. Brennan, Jr. sold 6,600 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $506.03, for a total value of $3,339,798.00. Following the transaction, the insider directly owned 2,100 shares of the company's stock, valued at $1,062,663. The trade was a 75.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Stephen P. Bramlage, Jr. sold 8,478 shares of the business's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $509.21, for a total value 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 $13,623,404.34. This represents a 24.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,646 shares of company stock worth $22,136,614 over the last three months. Insiders own 0.54% of the company's stock.

Casey's General Stores Trading Up 0.1%

Shares of NASDAQ CASY traded up $0.60 during trading on Tuesday, reaching $495.12. The company had a trading volume of 95,947 shares, compared to its average volume of 343,757. The company's fifty day moving average price is $513.87 and its 200-day moving average price is $466.32. Casey's General Stores, Inc. has a 12 month low of $350.52 and a 12 month high of $531.24. The stock has a market cap of $18.41 billion, a P/E ratio of 33.79 and a beta of 0.66. The company has a quick ratio of 0.48, a current ratio of 0.92 and a debt-to-equity ratio of 0.69.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.95 billion. Casey's General Stores had a return on equity of 16.28% and a net margin of 3.43%.The firm's revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.34 EPS. As a group, research 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were paid a $0.57 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.5%. This is a positive change from Casey's General Stores's previous quarterly dividend of $0.50. Casey's General Stores's dividend payout ratio (DPR) is presently 15.57%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CASY shares. BMO Capital Markets boosted their price objective on Casey's General Stores from $450.00 to $515.00 and gave the stock a "market perform" rating in a research report on Wednesday, June 11th. Wells Fargo & Company boosted their price objective on Casey's General Stores from $460.00 to $540.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 11th. KeyCorp boosted their price objective on 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. The Goldman Sachs Group boosted their price objective on Casey's General Stores from $385.00 to $450.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 11th. Finally, Stephens restated an "overweight" rating and set a $490.00 price objective on shares of Casey's General Stores in a research report on Tuesday, June 10th. Eight investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Casey's General Stores has a consensus rating of "Moderate Buy" and a consensus target price of $467.33.

About Casey's General Stores

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.