Aberdeen Group plc Has $34.64 Million Holdings in Casey's General Stores, Inc. $CASY

Key Points

• Aberdeen Group plc reduced its holdings in Casey's General Stores by 2.2%, owning 79,807 shares valued at approximately $34.6 million after selling 1,762 shares in the first quarter.
• Casey's General Stores reported $2.63 earnings per share for the latest quarter, exceeding estimates, with a revenue increase of 10.9% year-over-year, totaling $3.99 billion.
• The company recently declared a quarterly dividend of $0.57, an increase from the previous quarter's dividend of $0.50, with a current yield of 0.4%.

Aberdeen Group plc trimmed its holdings in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 2.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 79,807 shares of the company's stock after selling 1,762 shares during the period. Aberdeen Group plc owned 0.22% of Casey's General Stores worth $34,639,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Natixis raised its stake in shares of Casey's General Stores by 21.9% in the 4th quarter. Natixis now owns 8,337 shares of the company's stock valued at $3,303,000 after acquiring an additional 1,499 shares in the last quarter. Integrated Wealth Concepts LLC raised its position in shares of Casey's General Stores by 50.2% in the fourth quarter. Integrated Wealth Concepts LLC now owns 2,592 shares of the company's stock valued at $1,027,000 after purchasing an additional 866 shares during the period. Security National Bank lifted its stake in shares of Casey's General Stores by 9.7% in the first quarter. Security National Bank now owns 5,674 shares of the company's stock worth $2,463,000 after buying an additional 504 shares during the last quarter. Cornerstone Wealth Management LLC acquired a new stake in shares of Casey's General Stores in the first quarter worth $201,000. Finally, M&T Bank Corp boosted its holdings in shares of Casey's General Stores by 39.6% during the 1st quarter. M&T Bank Corp now owns 2,515 shares of the company's stock worth $1,092,000 after buying an additional 713 shares during the period. 85.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on CASY. BMO Capital Markets lifted their target price on shares of 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. Stephens reiterated 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. Wall Street Zen raised Casey's General Stores from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. The Goldman Sachs Group lifted their price target 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, Wells Fargo & Company increased their price objective on 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. Eight equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $467.33.

Casey's General Stores Price Performance

CASY stock traded down $7.96 during trading on Friday, hitting $502.22. 75,975 shares of the stock traded hands, compared to its average volume of 347,734. 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 stock has a market cap of $18.67 billion, a price-to-earnings ratio of 34.34 and a beta of 0.69. Casey's General Stores, Inc. has a one year low of $350.52 and a one year high of $531.24. The company has a 50 day simple moving average of $515.15 and a 200 day simple moving average of $462.66.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its quarterly earnings results on Monday, June 9th. The company reported $2.63 EPS for the quarter, topping analysts' consensus estimates 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%.Casey's General Stores's revenue for the quarter was up 10.9% on a year-over-year basis. During the same period in the prior year, the company earned $2.34 EPS. Equities analysts expect that Casey's General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey's General Stores Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $2.28 dividend on an annualized basis and a yield of 0.5%. This is an increase from Casey's General Stores's previous quarterly dividend of $0.50. Casey's General Stores's payout ratio is currently 15.57%.

Insider Transactions at Casey's General Stores

In related news, Director Mike Spanos bought 200 shares of the company's stock in a transaction on Monday, June 30th. The stock was bought at an average cost of $503.18 per share, with a total value of $100,636.00. Following the completion of the purchase, the director owned 3,560 shares in the company, valued at approximately $1,791,320.80. The trade was a 5.95% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Stephen P. Bramlage, Jr. sold 760 shares of Casey's General Stores stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $507.56, for a total value of $385,745.60. Following the completion of the sale, the chief financial officer owned 25,994 shares of the company's stock, valued at approximately $13,193,514.64. The trade was a 2.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,646 shares of company stock worth $22,136,614. Corporate insiders own 0.54% of the company's stock.

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.