Banco Bilbao Vizcaya Argentaria S.A. Buys 922 Shares of Casey's General Stores, Inc. $CASY

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. increased its stake in Casey's General Stores by 80.7% in Q1, owning 2,065 shares valued at approximately $895,000.
• CEO Darren M. Rebelez sold 20,000 shares for over $10 million, reducing his ownership by 18.21% to 89,840 shares.
• Casey’s General Stores announced a quarterly dividend increase to $0.57 per share, reflecting a yield of 0.5% and a payout ratio of 15.57%.

Banco Bilbao Vizcaya Argentaria S.A. increased its position in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 80.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,065 shares of the company's stock after purchasing an additional 922 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Casey's General Stores were worth $895,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Integrated Wealth Concepts LLC increased its position in shares of Casey's General Stores by 50.2% during the fourth quarter. Integrated Wealth Concepts LLC now owns 2,592 shares of the company's stock worth $1,027,000 after acquiring an additional 866 shares in the last quarter. Security National Bank increased its holdings in Casey's General Stores by 9.7% during the 1st quarter. Security National Bank now owns 5,674 shares of the company's stock worth $2,463,000 after purchasing an additional 504 shares in the last quarter. Cornerstone Wealth Management LLC purchased a new stake in shares of Casey's General Stores in the first quarter worth approximately $201,000. M&T Bank Corp raised its stake in shares of Casey's General Stores by 39.6% in the first quarter. M&T Bank Corp now owns 2,515 shares of the company's stock worth $1,092,000 after purchasing an additional 713 shares during the last quarter. Finally, Ground Swell Capital LLC bought a new position in shares of Casey's General Stores in the first quarter valued at approximately $338,000. Institutional investors and hedge funds own 85.63% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CASY. BMO Capital Markets upped their price target on Casey's General Stores from $450.00 to $515.00 and gave the stock a "market perform" rating in a report on Wednesday, June 11th. Wells Fargo & Company increased 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 report on Wednesday, June 11th. Royal Bank Of Canada raised 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 research report on Wednesday, July 9th. Stephens reaffirmed an "overweight" rating and issued a $490.00 price objective on shares of Casey's General Stores in a research report on Tuesday, June 10th. Finally, KeyCorp lifted their target price 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. Eight research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $467.33.

Insider Buying and Selling

In related news, insider Katrina S. Lindsey sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $506.07, for a total value of $1,012,140.00. Following the completion of the transaction, the insider directly owned 4,636 shares of the company's stock, valued at approximately $2,346,140.52. This trade 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 hyperlink. Also, insider Chad Michael Frazell sold 4,808 shares of the business's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $503.97, for a total transaction of $2,423,087.76. Following the sale, the insider directly owned 11,480 shares in the company, valued at $5,785,575.60. The trade was a 29.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,646 shares of company stock worth $22,136,614 in the last quarter. 0.54% of the stock is currently owned by company insiders.

Casey's General Stores Stock Performance

Shares of Casey's General Stores stock traded up $2.04 on Wednesday, reaching $498.82. 128,991 shares of the company traded hands, compared to its average volume of 346,212. The company has a 50 day moving average of $514.67 and a 200 day moving average of $464.38. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.92 and a quick ratio of 0.48. Casey's General Stores, Inc. has a 52 week low of $350.52 and a 52 week high of $531.24. The firm has a market capitalization of $18.55 billion, a PE ratio of 34.02 and a beta of 0.69.

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

Casey's General Stores Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Friday, August 1st. 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 is currently 15.57%.

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.