Casey's General Stores, Inc. (NASDAQ:CASY) Shares Bought by LGT Fund Management Co Ltd.

Key Points

• LGT Fund Management Co Ltd. increased its stake in Casey's General Stores by 25.0%, holding 3,500 shares valued at approximately $1.52 million following a recent purchase.
• Casey's General Stores reported earnings of $2.63 per share for Q4, exceeding analysts' estimates by $0.69, along with a revenue increase of 10.9% year-over-year.
• The company announced a rise in its quarterly dividend from $0.50 to $0.57, reflecting confidence in its financial health, with the dividend yield currently at 0.4%.

LGT Fund Management Co Ltd. lifted its holdings in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 25.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,500 shares of the company's stock after buying an additional 700 shares during the period. LGT Fund Management Co Ltd.'s holdings in Casey's General Stores were worth $1,519,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc bought a new position in shares of Casey's General Stores in the 1st quarter worth $25,000. Global Financial Private Client LLC lifted its position 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 acquiring an additional 52 shares in the last quarter. Iron Horse Wealth Management LLC increased its stake 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 worth $40,000 after acquiring an additional 26 shares during the last quarter. Whipplewood Advisors LLC increased its stake in Casey's General Stores by 160.0% during the first quarter. Whipplewood Advisors LLC now owns 117 shares of the company's stock worth $51,000 after acquiring an additional 72 shares during the last quarter. Finally, Wayfinding Financial LLC purchased a new position in shares of Casey's General Stores during the first quarter worth $59,000. Institutional investors own 85.63% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on CASY. The Goldman Sachs Group upped their price objective on Casey's General Stores from $385.00 to $450.00 and gave the company a "neutral" rating in a research note on Wednesday, June 11th. Royal Bank Of Canada increased their target price on Casey's General Stores from $468.00 to $542.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 9th. KeyCorp increased their price target on Casey's General Stores from $550.00 to $575.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Stephens reiterated 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. Finally, BMO Capital Markets raised their target price on shares of Casey's General Stores from $450.00 to $515.00 and gave the stock a "market perform" rating in a report on Wednesday, June 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $467.33.

Insider Buying and Selling at Casey's General Stores

In related news, CEO Darren M. Rebelez sold 20,000 shares of the stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $507.83, for a total transaction of $10,156,600.00. Following the sale, the chief executive officer owned 89,840 shares in the company, valued at approximately $45,623,447.20. This represents a 18.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Katrina S. Lindsey sold 2,000 shares of the stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $506.07, for a total value of $1,012,140.00. Following the transaction, the insider directly owned 4,636 shares in the company, valued at $2,346,140.52. The trade was a 30.14% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,646 shares of company stock worth $22,136,614. Company insiders own 0.54% of the company's stock.

Casey's General Stores Stock Down 0.1%

CASY traded down $0.34 during trading on Friday, hitting $507.84. 194,944 shares of the company's stock were exchanged, compared to its average volume of 250,511. The business's 50 day moving average is $513.09 and its two-hundred day moving average is $460.21. The stock has a market cap of $18.88 billion, a P/E ratio of 34.69 and a beta of 0.69. The company has a quick ratio of 0.48, a current ratio of 0.92 and a debt-to-equity ratio of 0.69. Casey's General Stores, Inc. has a fifty-two week low of $350.52 and a fifty-two week high of $531.24.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its quarterly earnings results on Monday, June 9th. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $1.94 by $0.69. The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.95 billion. Casey's General Stores had a net margin of 3.43% and a return on equity of 16.28%. The business's revenue was up 10.9% compared to the same quarter last year. During the same period last year, the firm posted $2.34 earnings per share. As a group, equities analysts expect that Casey's General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey's General Stores Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be issued a dividend of $0.57 per share. This is a positive change from Casey's General Stores's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, August 1st. This represents a $2.28 annualized dividend and a dividend yield of 0.4%. Casey's General Stores's payout ratio 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.