Deutsche Bank AG Cuts Stock Holdings in Casey's General Stores, Inc. (NASDAQ:CASY)

Key Points

• Deutsche Bank AG has decreased its holdings in Casey's General Stores by 3.4%, now owning 37,468 shares valued at approximately $16.26 million.
• The company announced an increase in its quarterly dividend from $0.50 to $0.57, representing an annualized yield of 0.4%.
• Casey's General Stores has recently reported a quarterly earnings per share (EPS) of $2.63, exceeding analysts' expectations of $1.94 and reflecting a 10.9% revenue increase compared to the prior year.

Deutsche Bank AG cut its stake in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 3.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,468 shares of the company's stock after selling 1,299 shares during the period. Deutsche Bank AG owned 0.10% of Casey's General Stores worth $16,263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CASY. Versant Capital Management Inc purchased a new stake in Casey's General Stores during the first quarter valued at approximately $25,000. Global Financial Private Client LLC raised its position in 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 valued at $30,000 after purchasing an additional 52 shares during the period. Iron Horse Wealth Management LLC raised its position in 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 valued at $40,000 after purchasing an additional 26 shares during the period. Whipplewood Advisors LLC raised its position in Casey's General Stores by 160.0% during the first quarter. Whipplewood Advisors LLC now owns 117 shares of the company's stock valued at $51,000 after purchasing an additional 72 shares during the period. Finally, Wayfinding Financial LLC purchased a new stake in Casey's General Stores during the first quarter valued at approximately $59,000. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Casey's General Stores Stock Performance

CASY stock traded down $0.34 during midday trading 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 has a market cap of $18.88 billion, a PE ratio of 34.69 and a beta of 0.69. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.48 and a current ratio of 0.92. The firm has a fifty day simple moving average of $513.09 and a two-hundred day simple moving average of $460.21. Casey's General Stores, Inc. has a 52-week low of $350.52 and a 52-week high of $531.24.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its quarterly earnings data on Monday, June 9th. The company reported $2.63 earnings per share for the quarter, beating analysts' consensus estimates of $1.94 by $0.69. The business had revenue of $3.99 billion during 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%. The company's revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the business posted $2.34 EPS. As a group, equities research analysts anticipate that Casey's General Stores, Inc. will post 13.94 EPS for the current year.

Casey's General Stores Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be given a dividend of $0.57 per share. This is a boost from Casey's General Stores's previous quarterly dividend of $0.50. The ex-dividend date is Friday, August 1st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.4%. Casey's General Stores's payout ratio is 15.57%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. KeyCorp increased their price target on Casey's General Stores from $550.00 to $575.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Wall Street Zen upgraded Casey's General Stores from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Wells Fargo & Company increased their price target on Casey's General Stores from $460.00 to $540.00 and gave the stock an "overweight" rating in a report on Wednesday, June 11th. Stephens reiterated an "overweight" rating and issued a $490.00 price target on shares of Casey's General Stores in a report on Tuesday, June 10th. Finally, Royal Bank Of Canada increased their price target on Casey's General Stores from $468.00 to $542.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Casey's General Stores currently has a consensus rating of "Moderate Buy" and a consensus price target of $467.33.

Casey's General Stores Company 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.