Nykredit A S Takes $11.47 Million Position in Casey's General Stores, Inc. $CASY

Key Points

• Nykredit A/S acquired a new $11.47 million stake in Casey’s General Stores during the second quarter, purchasing 14,432 shares. Institutional investors collectively own 85.63% of the company.
• Analysts maintain a generally positive outlook, with 15 Buy ratings and six Holds, producing a “Moderate Buy” consensus and an average price target of $840.69.
• Casey’s exceeded quarterly expectations, reporting $7.37 in EPS and $5.68 billion in revenue, while revenue grew 24.3% year over year. The company also declared a quarterly dividend of $0.65 per share.

Nykredit A S acquired a new stake in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 14,432 shares of the company's stock, valued at approximately $11,470,000.

A number of other institutional investors also recently bought and sold shares of CASY. Fiduciary Financial Advisors purchased a new position in shares of Casey's General Stores in the second quarter worth $26,000. Whipplewood Advisors LLC purchased a new stake in shares of Casey's General Stores during the first quarter valued at $33,000. Bell Investment Advisors Inc purchased a new stake in shares of Casey's General Stores during the second quarter valued at $33,000. Caitlin John LLC acquired a new position in shares of Casey's General Stores in the 2nd quarter valued at $35,000. Finally, Larson Financial Group LLC increased its position in shares of Casey's General Stores by 252.4% in the 4th quarter. Larson Financial Group LLC now owns 74 shares of the company's stock valued at $41,000 after acquiring an additional 53 shares during the period. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Casey's General Stores

In related news, CEO Darren Rebelez sold 19,000 shares of the business's stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $801.46, for a total value of $15,227,740.00. Following the completion of the sale, the chief executive officer owned 89,174 shares of the company's stock, valued at approximately $71,469,394.04. The trade was a 17.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Chad Frazell sold 3,013 shares of the company's stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $787.49, for a total transaction of $2,372,707.37. Following the transaction, the insider 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. The disclosure for this sale is available in the SEC filing. Insiders have sold 30,243 shares of company stock worth $24,421,877 in the last ninety days. Company insiders own 0.67% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Wolfe Research reaffirmed an "outperform" rating and set a $1,069.00 price target on shares of Casey's General Stores in a research report on Thursday, June 11th. JPMorgan Chase & Co. reduced their price objective on Casey's General Stores from $975.00 to $833.00 and set a "neutral" rating for the company in a research note on Thursday, September 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $933.00 target price on shares of Casey's General Stores in a report on Thursday, September 10th. Wells Fargo & Company dropped their target price on Casey's General Stores from $960.00 to $750.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 9th. Finally, William Blair reissued an "outperform" rating on shares of Casey's General Stores in a research report on Wednesday. Fifteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $840.69.

Casey's General Stores Stock Down 0.0%

CASY stock opened at $597.36 on Monday. Casey's General Stores, Inc. has a one year low of $497.38 and a one year high of $927.85. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.61 and a current ratio of 1.02. The firm's fifty day moving average is $793.42 and its 200 day moving average is $783.02. The firm has a market cap of $22.08 billion, a PE ratio of 28.77, a P/E/G ratio of 1.95 and a beta of 0.59.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its earnings results on Tuesday, September 8th. The company reported $7.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.78 by $0.59. Casey's General Stores had a net margin of 4.14% and a return on equity of 19.68%. The business had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.56 billion. During the same period in the prior year, the company posted $5.77 EPS. The company's revenue for the quarter was up 24.3% on a year-over-year basis. On average, research analysts forecast that Casey's General Stores, Inc. will post 21.4 EPS for the current year.

Casey's General Stores Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Sunday, November 1st will be paid a $0.65 dividend. The ex-dividend date of this dividend is Friday, October 30th. This represents a $2.60 dividend on an annualized basis and a yield of 0.4%. Casey's General Stores's dividend payout ratio (DPR) is currently 12.52%.

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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