Hsbc Holdings PLC Purchases Shares of 61,287 Casey's General Stores, Inc. $CASY

Hsbc Holdings PLC bought 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 filing with the Securities and Exchange Commission. The fund bought 61,287 shares of the company's stock, valued at approximately $48,669,000. Hsbc Holdings PLC owned 0.17% of Casey's General Stores as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in Casey's General Stores in the second quarter worth $2,759,895,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of 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 valued at $1,469,747,000 after purchasing an additional 2,657,687 shares during the period. Franklin Resources Inc. raised its holdings in shares of Casey's General Stores by 40.9% during the fourth quarter. Franklin Resources Inc. now owns 1,068,682 shares of the company's stock valued at $590,671,000 after purchasing an additional 310,470 shares during the period. Geode Capital Management LLC boosted its position in shares of Casey's General Stores by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 760,438 shares of the company's stock worth $420,416,000 after purchasing an additional 52,250 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Casey's General Stores by 12.6% during the 4th quarter. Invesco Ltd. now owns 572,152 shares of the company's stock worth $316,234,000 after purchasing an additional 64,154 shares in the last quarter. Institutional investors and hedge funds own 85.63% of the company's stock.

Casey's General Stores Stock Performance

Shares of CASY opened at $807.12 on Thursday. Casey's General Stores, Inc. has a 12 month low of $490.00 and a 12 month high of $927.85. The company has a market capitalization of $29.87 billion, a price-to-earnings ratio of 42.13, a PEG ratio of 2.82 and a beta of 0.61. The stock has a 50 day moving average of $835.23 and a 200 day moving average of $780.78. The company has a current ratio of 1.01, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its earnings results on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, topping analysts' consensus estimates of $3.31 by $1.06. The company had revenue of $4.57 billion for the quarter, compared to analysts' expectations of $4.33 billion. Casey's General Stores had a return on equity of 18.73% and a net margin of 4.07%.The business's revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.63 EPS. As a group, sell-side 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 business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Saturday, August 1st were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.3%. This is a boost from Casey's General Stores's previous quarterly dividend of $0.57. The ex-dividend date was Friday, July 31st. Casey's General Stores's dividend payout ratio is 13.57%.

Insiders Place Their Bets

In other Casey's General Stores news, Director Allison M. Wing sold 530 shares of the business's stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $837.58, for a total value of $443,917.40. Following the transaction, the director directly owned 3,042 shares in the company, valued at $2,547,918.36. The trade was a 14.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chad Michael Frazell sold 3,013 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $787.49, for a total transaction of $2,372,707.37. Following the transaction, the insider directly owned 9,823 shares of the company's stock, valued at $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 quarter, insiders have sold 30,243 shares of company stock valued at $24,421,877. Company insiders own 0.67% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CASY. Stephens set a $975.00 price target on Casey's General Stores and gave the stock an "overweight" rating in a research note 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 on the stock in a report on Monday, July 13th. William Blair initiated coverage on shares of Casey's General Stores in a research note on Wednesday, May 20th. They set an "outperform" rating for the company. Weiss Ratings downgraded shares of Casey's General Stores from a "buy (b+)" rating to a "buy (b)" rating in a research report on Tuesday, July 21st. Finally, Royal Bank Of Canada restated a "sector perform" rating and issued a $913.00 target price on shares of Casey's General Stores in a report on Wednesday, July 29th. Fourteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target 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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