First National Bank of Omaha Invests $2.02 Million in Casey's General Stores, Inc. $CASY

Key Points

• First National Bank of Omaha acquired 2,538 Casey’s General Stores shares worth approximately $2.02 million in the second quarter. Institutional investors collectively own 85.63% of the company.
• Analysts maintain a favorable outlook, with 14 Buy ratings and six Holds, producing a “Moderate Buy” consensus and an average price target of $944.20. Casey’s also exceeded quarterly expectations, reporting $4.37 in EPS and $4.57 billion in revenue.
• Insiders sold 30,243 shares worth $24.42 million during the last quarter, while Casey’s increased its quarterly dividend to $0.65 per share, or $2.60 annually.

First National Bank of Omaha acquired a new position in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,538 shares of the company's stock, valued at approximately $2,017,000.

Several other institutional investors have also added to or reduced their stakes in CASY. Bell Investment Advisors Inc bought a new position in Casey's General Stores during the 2nd quarter worth about $33,000. Whipplewood Advisors LLC bought a new stake in shares of Casey's General Stores in the first quarter valued at about $33,000. RMG Wealth Management LLC lifted its holdings in shares of Casey's General Stores by 250.0% in the first quarter. RMG Wealth Management LLC now owns 56 shares of the company's stock valued at $41,000 after purchasing an additional 40 shares in the last quarter. Western Pacific Wealth Management LP acquired a new position in shares of Casey's General Stores during the first quarter worth about $52,000. Finally, Larson Financial Group LLC boosted its position in shares of Casey's General Stores by 252.4% during the fourth quarter. Larson Financial Group LLC now owns 74 shares of the company's stock worth $41,000 after buying an additional 53 shares during the period. 85.63% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CASY. The Goldman Sachs Group lifted their target price on Casey's General Stores from $695.00 to $795.00 and gave the company a "neutral" rating in a research report on Thursday, June 25th. BMO Capital Markets raised Casey's General Stores from a "market perform" rating to an "outperform" rating and set a $950.00 price target for the company in a research report on Monday, June 29th. Capital One Financial started coverage on shares of Casey's General Stores in a research note on Monday, June 22nd. They set an "equal weight" rating and a $896.00 price target for the company. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $913.00 price objective on shares of Casey's General Stores in a report on Wednesday, July 29th. Finally, Morgan Stanley raised shares of Casey's General Stores to a "buy" rating in a research report on Wednesday, June 10th. Fourteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $944.20.

Insider Buying and Selling

In other news, insider Katrina S. Lindsey sold 2,000 shares of the stock in a transaction that occurred on 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 owned 6,668 shares of the company's stock, valued at approximately $5,334,400. This represents a 23.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Allison M. Wing sold 530 shares of the firm's stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $837.58, for a total transaction of $443,917.40. Following the completion of the transaction, the director directly owned 3,042 shares of the company's stock, valued at $2,547,918.36. This represents a 14.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 30,243 shares of company stock worth $24,421,877 in the last quarter. 0.67% of the stock is owned by company insiders.

Casey's General Stores Price Performance

Shares of NASDAQ CASY opened at $836.15 on Thursday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.60. The business has a 50-day moving average of $840.22 and a 200-day moving average of $773.90. The stock has a market capitalization of $30.95 billion, a price-to-earnings ratio of 43.64, a PEG ratio of 2.56 and a beta of 0.61. Casey's General Stores, Inc. has a fifty-two week low of $490.00 and a fifty-two week high of $927.85.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.31 by $1.06. The business had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.33 billion. Casey's General Stores had a return on equity of 18.73% and a net margin of 4.07%.Casey's General Stores's revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.63 earnings per share. As a group, sell-side analysts predict that Casey's General Stores, Inc. will post 21.14 earnings per share for the current fiscal year.

Casey's General Stores Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Saturday, August 1st were paid a dividend of $0.65 per share. The ex-dividend date was Friday, July 31st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.3%. 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 currently 13.57%.

About Casey's General Stores

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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