Deutsche Bank AG Buys Shares of 116,497 Casey's General Stores, Inc. $CASY

Deutsche Bank AG purchased a new stake in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 116,497 shares of the company's stock, valued at approximately $92,591,000. Deutsche Bank AG owned about 0.31% of Casey's General Stores at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its position in Casey's General Stores by 179,938.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,659,164 shares of the company's stock worth $1,469,747,000 after purchasing an additional 2,657,687 shares during the period. Norges Bank purchased a new stake in shares of Casey's General Stores during the 4th quarter valued at approximately $265,163,000. Bank of New York Mellon Corp bought a new position in Casey's General Stores in the 2nd quarter worth approximately $281,011,000. Franklin Resources Inc. raised its holdings in Casey's General Stores by 40.9% during the 4th quarter. Franklin Resources Inc. now owns 1,068,682 shares of the company's stock valued at $590,671,000 after acquiring an additional 310,470 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in Casey's General Stores by 175.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 471,536 shares of the company's stock valued at $260,622,000 after acquiring an additional 300,249 shares during the period. Hedge funds and other institutional investors own 85.63% of the company's stock.

Casey's General Stores Price Performance

Shares of Casey's General Stores stock opened at $828.38 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. Casey's General Stores, Inc. has a 52 week low of $490.00 and a 52 week high of $927.85. The business has a 50 day moving average of $838.47 and a 200 day moving average of $775.47. The company has a market cap of $30.66 billion, a PE ratio of 43.23, a P/E/G ratio of 2.80 and a beta of 0.61.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, beating the consensus estimate of $3.31 by $1.06. Casey's General Stores had a return on equity of 18.73% and a net margin of 4.07%.The business had revenue of $4.57 billion for the quarter, compared to analysts' expectations of $4.33 billion. During the same period in the previous year, the firm posted $2.63 EPS. The business's revenue was up 14.5% on a year-over-year basis. As a group, equities research analysts forecast that Casey's General Stores, Inc. will post 21.11 earnings per share for the current year.

Casey's General Stores Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Saturday, August 1st were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Friday, July 31st. This is an increase from Casey's General Stores's previous quarterly dividend of $0.57. Casey's General Stores's dividend payout ratio (DPR) is presently 13.57%.

Insider Activity

In other Casey's General Stores news, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the company's stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $838.16, for a total transaction of $4,777,512.00. Following the transaction, the chief financial officer owned 29,677 shares in the company, valued at approximately $24,874,074.32. This represents a 16.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Allison M. Wing sold 530 shares of the firm's stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $837.58, for a total transaction of $443,917.40. Following the sale, the director directly owned 3,042 shares in the company, valued at approximately $2,547,918.36. The trade was a 14.84% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 30,243 shares of company stock valued at $24,421,877. Corporate insiders own 0.67% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. KeyCorp raised their price target on Casey's General Stores from $950.00 to $970.00 and gave the stock an "overweight" rating in a report on Thursday, June 11th. UBS Group boosted their price objective on Casey's General Stores from $805.00 to $945.00 and gave the company a "neutral" rating in a research note on Thursday, June 11th. Evercore reissued an "outperform" rating and set a $990.00 price objective on shares of Casey's General Stores in a report on Friday, June 12th. Northcoast Research upgraded Casey's General Stores from a "neutral" rating to a "buy" rating and set a $950.00 target price for the company in a research note on Monday, July 13th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $1,000.00 target price on shares of Casey's General Stores in a report on Monday, June 15th. Fourteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price 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.

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