First Nebraska Trust Co Buys Shares of 1,172 Casey's General Stores, Inc. $CASY

Key Points

• First Nebraska Trust Co. initiated a position in Casey’s General Stores by purchasing 1,172 shares valued at approximately $853,000. Institutional investors collectively own 85.63% of the company.
• Casey’s reported strong quarterly results, with EPS of $4.37 beating estimates by $1.06 and revenue rising 14.5% year over year to $4.57 billion.
• The company increased its quarterly dividend to $0.65 per share, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $944.20.

First Nebraska Trust Co bought a new position in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm bought 1,172 shares of the company's stock, valued at approximately $853,000.

Several other institutional investors have also modified their holdings of the stock. NewEdge Advisors LLC increased its holdings in shares of Casey's General Stores by 6.4% during the 1st quarter. NewEdge Advisors LLC now owns 1,871 shares of the company's stock worth $812,000 after buying an additional 113 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in Casey's General Stores by 129.6% in the first quarter. Geneos Wealth Management Inc. now owns 186 shares of the company's stock valued at $81,000 after acquiring an additional 105 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Casey's General Stores by 431.7% in the second quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company's stock valued at $111,000 after acquiring an additional 177 shares during the last quarter. Amundi purchased a new position in Casey's General Stores in the second quarter worth approximately $338,000. Finally, Jump Financial LLC grew its position in Casey's General Stores by 42.6% in the second quarter. Jump Financial LLC now owns 968 shares of the company's stock worth $494,000 after acquiring an additional 289 shares during the period. Hedge funds and other institutional investors own 85.63% of the company's stock.

Casey's General Stores Stock Performance

NASDAQ:CASY opened at $871.00 on Monday. Casey's General Stores, Inc. has a fifty-two week low of $490.00 and a fifty-two week high of $927.85. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 1.01. The company has a 50 day moving average price of $823.78 and a 200 day moving average price of $753.42. The stock has a market capitalization of $32.24 billion, a P/E ratio of 45.46, a PEG ratio of 2.61 and a beta of 0.61.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.33 billion. During the same quarter in the previous year, the company earned $2.63 earnings per share. The firm's quarterly revenue was up 14.5% compared to the same quarter last year. Equities research analysts forecast that Casey's General Stores, Inc. will post 21.14 EPS for the current year.

Casey's General Stores Increases Dividend

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

Insider Transactions at Casey's General Stores

In related 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 completion of 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Chad Michael Frazell sold 3,013 shares of Casey's General Stores stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $787.49, for a total value of $2,372,707.37. Following the completion of the transaction, the insider directly owned 9,823 shares of the company's stock, valued at approximately $7,735,514.27. This represents a 23.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 30,243 shares of company stock worth $24,421,877. 0.67% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CASY has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their target price on Casey's General Stores from $719.00 to $975.00 and gave the company a "neutral" rating in a research report on Friday, June 12th. Evercore reiterated an "outperform" rating and set a $990.00 price target on shares of Casey's General Stores in a report on Friday, June 12th. Weiss Ratings cut Casey's General Stores from a "buy (b+)" rating to a "buy (b)" rating in a report on Tuesday, July 21st. Wolfe Research reissued an "outperform" rating and set a $1,069.00 price objective on shares of Casey's General Stores in a research report on Thursday, June 11th. Finally, Northcoast Research upgraded shares of Casey's General Stores from a "neutral" rating to a "buy" rating and set a $950.00 price objective on the stock in a report on Monday, July 13th. Fourteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. 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 Company 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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