OMERS ADMINISTRATION Corp Takes $2.05 Million Position in Casey's General Stores, Inc. $CASY

Key Points

• OMERS Administration Corp. acquired 2,578 Casey’s General Stores shares worth approximately $2.05 million during the second quarter. Institutional investors collectively own 85.63% of the company.
• Casey’s reported stronger-than-expected quarterly results, with EPS of $4.37 versus the $3.31 consensus estimate and revenue of $4.57 billion, up 14.5% year over year.
• The company raised its quarterly dividend to $0.65 per share from $0.57, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $944.20.

OMERS ADMINISTRATION Corp acquired a new position in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,578 shares of the company's stock, valued at approximately $2,049,000.

Several other institutional investors have also bought and sold shares of the stock. Bell Investment Advisors Inc acquired a new stake in shares of Casey's General Stores in the 2nd quarter worth approximately $33,000. Whipplewood Advisors LLC acquired a new position in shares of Casey's General Stores during the first quarter valued at approximately $33,000. RMG Wealth Management LLC raised its holdings in Casey's General Stores by 250.0% during the first quarter. RMG Wealth Management LLC now owns 56 shares of the company's stock worth $41,000 after purchasing an additional 40 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in Casey's General Stores in the second quarter worth approximately $55,000. Finally, Western Pacific Wealth Management LP acquired a new stake in Casey's General Stores in the first quarter worth approximately $52,000. Institutional investors and hedge funds own 85.63% of the company's stock.

Insider Buying and Selling at Casey's General Stores

In related news, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the company's stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $838.16, for a total value of $4,777,512.00. Following the completion of the sale, the chief financial officer owned 29,677 shares in the company, valued at approximately $24,874,074.32. This represents a 16.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Darren M. Rebelez sold 19,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $801.46, for a total transaction of $15,227,740.00. Following the completion of the transaction, the chief executive officer directly owned 89,174 shares of the company's stock, valued at $71,469,394.04. This represents a 17.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 30,243 shares of company stock valued at $24,421,877 over the last three months. 0.67% of the stock is owned by insiders.

Casey's General Stores Trading Down 2.2%

NASDAQ:CASY opened at $807.12 on Thursday. The stock has a fifty day simple moving average of $835.23 and a 200 day simple moving average of $780.78. The firm has a market capitalization of $29.87 billion, a price-to-earnings ratio of 42.13, a price-to-earnings-growth ratio of 2.82 and a beta of 0.61. Casey's General Stores, Inc. has a 1-year low of $490.00 and a 1-year high of $927.85. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.33 billion. During the same quarter in the previous year, the company earned $2.63 EPS. The business's revenue for the quarter was up 14.5% compared to the same quarter last year. 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 company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Saturday, August 1st were issued a dividend of $0.65 per share. This is an increase 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%. The ex-dividend date was Friday, July 31st. Casey's General Stores's dividend payout ratio (DPR) is presently 13.57%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Royal Bank Of Canada reiterated a "sector perform" rating and set a $913.00 price target on shares of Casey's General Stores in a research report on Wednesday, July 29th. UBS Group raised their target price on Casey's General Stores from $805.00 to $945.00 and gave the company a "neutral" rating in a research note on Thursday, June 11th. BNP Paribas Exane reduced their price objective on shares of Casey's General Stores from $1,032.00 to $995.00 and set an "outperform" rating for the company in a research report on Thursday, June 25th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $1,000.00 price objective on shares of Casey's General Stores in a research note on Monday, June 15th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Casey's General Stores from $719.00 to $975.00 and gave the stock a "neutral" rating in a report on Friday, June 12th. Fourteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, Casey's General Stores currently has a consensus rating of "Moderate Buy" and an average target price 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.

Want to see what other hedge funds are holding CASY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Casey's General Stores, Inc. (NASDAQ:CASY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source