Epoch Investment Partners Inc. Buys Shares of 4,121 Casey's General Stores, Inc. $CASY

Key Points

• Epoch Investment Partners Inc. acquired a new stake in Casey's General Stores, buying 4,121 shares valued at approximately $1.79 million during Q1.
• Casey's General Stores reported a quarterly earnings of $2.63 EPS, exceeding estimates by $0.69, alongside a 10.9% year-over-year revenue increase.
• The company recently increased its quarterly dividend to $0.57 per share, reflecting a positive adjustment from the previous $0.50 dividend.

Epoch Investment Partners Inc. acquired a new stake in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 4,121 shares of the company's stock, valued at approximately $1,789,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc acquired a new position in shares of Casey's General Stores in the first quarter valued at $25,000. Global Financial Private Client LLC increased its holdings in shares of Casey's General Stores by 325.0% in 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 last quarter. Summit Securities Group LLC acquired a new position in shares of Casey's General Stores in the first quarter valued at $32,000. Iron Horse Wealth Management LLC increased its holdings in shares of Casey's General Stores by 40.0% in 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 last quarter. Finally, Whipplewood Advisors LLC increased its holdings in shares of Casey's General Stores by 160.0% in 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 last quarter. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on CASY. Royal Bank Of Canada upped 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. Wells Fargo & Company upped their price objective on shares of Casey's General Stores from $460.00 to $540.00 and gave the company an "overweight" rating in a report on Wednesday, June 11th. Stephens restated an "overweight" rating and issued a $490.00 price target on shares of Casey's General Stores in a research note on Tuesday, June 10th. BMO Capital Markets upped their price target on shares of Casey's General Stores from $450.00 to $515.00 and gave the company a "market perform" rating in a research note on Wednesday, June 11th. Finally, KeyCorp upped their price target on shares of Casey's General Stores from $550.00 to $575.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Eight equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Casey's General Stores currently has an average rating of "Moderate Buy" and an average target price of $467.33.

Insider Transactions at Casey's General Stores

In related news, CFO Stephen P. Bramlage, Jr. sold 8,478 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $509.21, for a total value of $4,317,082.38. Following the completion of the transaction, the chief financial officer owned 26,754 shares in the company, valued at $13,623,404.34. This trade represents a 24.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chad Michael Frazell sold 4,808 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $503.97, for a total transaction of $2,423,087.76. Following the completion of the transaction, the insider owned 11,480 shares of the company's stock, valued at approximately $5,785,575.60. This trade represents a 29.52% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,646 shares of company stock valued at $22,136,614. 0.54% of the stock is owned by company insiders.

Casey's General Stores Price Performance

CASY traded down $1.48 on Monday, hitting $494.52. 242,875 shares of the stock were exchanged, compared to its average volume of 225,096. Casey's General Stores, Inc. has a 12 month low of $350.52 and a 12 month high of $531.24. The business has a 50-day moving average of $514.19 and a two-hundred day moving average of $465.88. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.92 and a quick ratio of 0.48. The firm has a market capitalization of $18.39 billion, a price-to-earnings ratio of 33.78 and a beta of 0.66.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its quarterly earnings data on Monday, June 9th. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.69. Casey's General Stores had a net margin of 3.43% and a return on equity of 16.28%. The business had revenue of $3.99 billion during the quarter, compared to analysts' expectations of $3.95 billion. During the same quarter in the prior year, the business posted $2.34 earnings per share. Casey's General Stores's revenue was up 10.9% compared to the same quarter last year. Sell-side analysts forecast 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 announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.5%. This is an increase from Casey's General Stores's previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Friday, August 1st. Casey's General Stores's dividend payout ratio (DPR) is currently 15.57%.

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.