Czech National Bank Buys Shares of 10,520 Casey's General Stores, Inc. $CASY

Key Points

• Czech National Bank initiated a Casey’s General Stores stake of 10,520 shares valued at approximately $8.36 million. Institutional investors collectively own 85.63% of the company.
• Casey’s reported quarterly EPS of $4.37, beating estimates by $1.06, while revenue rose 14.5% year over year to $4.57 billion. Analysts maintain a “Moderate Buy” consensus with an average price target of $944.20.
• The company increased its quarterly dividend from $0.57 to $0.65 per share, representing a $2.60 annualized dividend and a 0.3% yield; meanwhile, insiders sold 30,243 shares worth approximately $24.4 million over the past three months.

Czech National Bank bought a new stake in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 10,520 shares of the company's stock, valued at approximately $8,361,000.

A number of other hedge funds have also made changes to their positions in the stock. Whipplewood Advisors LLC purchased a new position in Casey's General Stores during the first quarter valued at approximately $33,000. Larson Financial Group LLC lifted its position in Casey's General Stores by 252.4% in the 4th quarter. Larson Financial Group LLC now owns 74 shares of the company's stock worth $41,000 after buying an additional 53 shares in the last quarter. RMG Wealth Management LLC lifted its position in Casey's General Stores by 250.0% in the 1st quarter. RMG Wealth Management LLC now owns 56 shares of the company's stock worth $41,000 after buying an additional 40 shares in the last quarter. Elyxium Wealth LLC purchased a new stake in Casey's General Stores in the 4th quarter worth approximately $43,000. Finally, Osterweis Capital Management Inc. acquired a new stake in shares of Casey's General Stores during the 2nd quarter valued at $45,000. 85.63% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Casey's General Stores news, Director Allison M. Wing sold 530 shares of the firm's stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $837.58, for a total transaction of $443,917.40. Following the transaction, the director directly owned 3,042 shares in the company, valued at $2,547,918.36. This trade represents a 14.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Katrina S. Lindsey sold 2,000 shares of the business'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 sale, the insider directly owned 6,668 shares of the company's stock, valued at $5,334,400. This represents a 23.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 30,243 shares of company stock valued at $24,421,877. Corporate insiders own 0.67% of the company's stock.

Casey's General Stores Stock Performance

CASY stock opened at $833.95 on Friday. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $30.86 billion, a price-to-earnings ratio of 43.53, a P/E/G ratio of 2.50 and a beta of 0.61. Casey's General Stores, Inc. has a 12 month low of $490.00 and a 12 month high of $927.85. The firm has a 50 day moving average of $829.04 and a two-hundred day moving average of $760.26.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, topping 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%. Casey's General Stores's quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.63 EPS. As a group, equities 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 firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Saturday, August 1st will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, July 31st. This is a positive change from Casey's General Stores's previous quarterly dividend of $0.57. This represents a $2.60 annualized dividend and a yield of 0.3%. Casey's General Stores's dividend payout ratio (DPR) is currently 13.57%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Wells Fargo & Company boosted their price target on shares of Casey's General Stores from $910.00 to $960.00 and gave the company an "overweight" rating in a report on Thursday, June 11th. BNP Paribas Exane cut their price objective on Casey's General Stores from $1,032.00 to $995.00 and set an "outperform" rating for the company in a report on Thursday, June 25th. KeyCorp lifted their price objective on Casey's General Stores from $950.00 to $970.00 and gave the company an "overweight" rating in a research report on Thursday, June 11th. Morgan Stanley upgraded Casey's General Stores to a "buy" rating in a research note on Wednesday, June 10th. Finally, Evercore reaffirmed an "outperform" rating and issued a $990.00 target price on shares of Casey's General Stores in a research report on Friday, June 12th. Fourteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $944.20.

Casey's General Stores Profile

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.

Want to see what other hedge funds are holding CASY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Casey's General Stores, Inc. (NASDAQ:CASY - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source