Natixis Advisors LLC Has $24.65 Million Stock Position in Casey's General Stores, Inc. (NASDAQ:CASY)

Key Points

• Natixis Advisors LLC increased its stake in Casey's General Stores by 2.3%, owning 0.15% of the company, which is valued at approximately $24.65 million.
• A variety of institutional investors, such as Pictet Asset Management and Alliancebernstein, have significantly boosted their holdings in Casey's General Stores during the last quarter.
• Casey's General Stores announced a quarterly dividend increase to $0.57 per share, up from $0.50, reflecting a commitment to shareholder returns.

Natixis Advisors LLC increased its holdings in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 2.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 56,798 shares of the company's stock after purchasing an additional 1,287 shares during the period. Natixis Advisors LLC owned approximately 0.15% of Casey's General Stores worth $24,653,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CASY. Versant Capital Management Inc acquired a new position in shares of Casey's General Stores in the 1st quarter worth approximately $25,000. Global Financial Private Client LLC boosted its holdings in shares of Casey's General Stores by 325.0% in the 1st quarter. Global Financial Private Client LLC now owns 68 shares of the company's stock worth $30,000 after acquiring an additional 52 shares in the last quarter. Iron Horse Wealth Management LLC increased its position in Casey's General Stores by 40.0% in the 1st quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company's stock valued at $40,000 after acquiring an additional 26 shares in the last quarter. Whipplewood Advisors LLC increased its position in Casey's General Stores by 160.0% in the 1st quarter. Whipplewood Advisors LLC now owns 117 shares of the company's stock valued at $51,000 after acquiring an additional 72 shares in the last quarter. Finally, Wayfinding Financial LLC acquired a new stake in Casey's General Stores in the 1st quarter valued at about $59,000. Institutional investors and hedge funds own 85.63% of the company's stock.

Insiders Place Their Bets

In related news, insider Chad Michael Frazell sold 4,808 shares of Casey's General Stores stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $503.97, for a total value of $2,423,087.76. Following the sale, the insider owned 11,480 shares of the company's stock, valued at approximately $5,785,575.60. The trade was a 29.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mike Spanos bought 200 shares of the stock in a transaction that occurred on Monday, June 30th. The stock was bought at an average cost of $503.18 per share, for a total transaction of $100,636.00. Following the transaction, the director owned 3,560 shares of the company's stock, valued at $1,791,320.80. The trade was a 5.95% increase in their position. The disclosure for this purchase can be found here. Insiders have sold 43,646 shares of company stock valued at $22,136,614 in the last quarter. 0.54% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

Casey's General Stores Stock Up 1.2%

Shares of NASDAQ CASY traded up $6.08 during mid-day trading on Wednesday, reaching $520.83. 118,279 shares of the company's stock were exchanged, compared to its average volume of 358,971. The company has a current ratio of 0.92, a quick ratio of 0.48 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $19.36 billion, a price-to-earnings ratio of 35.57 and a beta of 0.69. The business has a fifty day simple moving average of $501.50 and a 200 day simple moving average of $454.55. Casey's General Stores, Inc. has a twelve month low of $350.52 and a twelve month high of $531.24.

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. The company had revenue of $3.99 billion during the quarter, compared to analysts' expectations of $3.95 billion. Casey's General Stores had a return on equity of 16.28% and a net margin of 3.43%. Casey's General Stores's revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.34 earnings per share. As a group, equities analysts expect 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 will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be given a $0.57 dividend. This is an increase from Casey's General Stores's previous quarterly dividend of $0.50. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, August 1st. Casey's General Stores's dividend payout ratio (DPR) is presently 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.