Casey's General Stores, Inc. (NASDAQ:CASY) Shares Purchased by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Casey's General Stores by 3.1%, owning approximately 0.77% of the company worth $123.7 million after acquiring an additional 8,560 shares.
• Casey's General Stores reported a quarterly earnings per share (EPS) of $2.63, significantly exceeding analysts' expectations of $1.94, with a year-over-year revenue increase of 10.9%.
• The company announced a dividend increase to $0.57 per share, reflecting a positive change from the previous quarterly dividend of $0.50, with an upcoming payment date on August 15th.

Charles Schwab Investment Management Inc. raised its holdings in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 3.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 285,089 shares of the company's stock after purchasing an additional 8,560 shares during the period. Charles Schwab Investment Management Inc. owned 0.77% of Casey's General Stores worth $123,740,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CASY. Versant Capital Management Inc acquired a new position in shares of Casey's General Stores during the first quarter worth $25,000. Global Financial Private Client LLC increased its position in shares of Casey's General Stores by 325.0% during the first quarter. Global Financial Private Client LLC now owns 68 shares of the company's stock worth $30,000 after purchasing an additional 52 shares in the last quarter. Iron Horse Wealth Management LLC increased its position in shares of Casey's General Stores by 40.0% during the first quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company's stock worth $40,000 after purchasing an additional 26 shares in the last quarter. Whipplewood Advisors LLC increased its position in shares of Casey's General Stores by 160.0% during the first quarter. Whipplewood Advisors LLC now owns 117 shares of the company's stock worth $51,000 after purchasing an additional 72 shares in the last quarter. Finally, Wayfinding Financial LLC acquired a new position in shares of Casey's General Stores during the first quarter worth $59,000. 85.63% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Katrina S. Lindsey sold 2,000 shares of the company's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $506.07, for a total transaction of $1,012,140.00. Following the completion of the transaction, the insider owned 4,636 shares in the company, valued at $2,346,140.52. This represents a 30.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas P. Brennan, Jr. sold 6,600 shares of the company's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $506.03, for a total transaction of $3,339,798.00. Following the transaction, the insider owned 2,100 shares of the company's stock, valued at approximately $1,062,663. This trade represents a 75.86% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,646 shares of company stock valued at $22,136,614. Insiders own 0.54% of the company's stock.

Casey's General Stores Price Performance

Shares of Casey's General Stores stock traded down $0.34 during trading hours on Friday, reaching $507.84. The stock had a trading volume of 194,944 shares, compared to its average volume of 250,511. The stock's 50 day moving average is $513.09 and its 200 day moving average is $460.21. The firm has a market capitalization of $18.88 billion, a PE ratio of 34.69 and a beta of 0.69. Casey's General Stores, Inc. has a twelve month low of $350.52 and a twelve month 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.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its quarterly earnings data on Monday, June 9th. The company reported $2.63 earnings per share for the quarter, topping analysts' consensus estimates of $1.94 by $0.69. The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.95 billion. Casey's General Stores had a net margin of 3.43% and a return on equity of 16.28%. The company's revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.34 earnings per share. Equities analysts expect 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 company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.4%. This is an increase from Casey's General Stores's previous quarterly dividend of $0.50. The ex-dividend date was Friday, August 1st. Casey's General Stores's payout ratio is currently 15.57%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CASY shares. Stephens reissued an "overweight" rating and set a $490.00 price objective on shares of Casey's General Stores in a report on Tuesday, June 10th. BMO Capital Markets boosted their price objective on shares of Casey's General Stores from $450.00 to $515.00 and gave the company a "market perform" rating in a report on Wednesday, June 11th. Wall Street Zen raised shares of Casey's General Stores from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Royal Bank Of Canada boosted their price objective 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, KeyCorp boosted their price objective on shares of Casey's General Stores from $550.00 to $575.00 and gave the company an "overweight" rating in a report on Friday, July 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $467.33.

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.