Royal Bank of Canada Has $36.04 Million Stake in Casey's General Stores, Inc. $CASY

Key Points

• The Royal Bank of Canada reduced its holdings in Casey's General Stores by 0.9%, now owning approximately 83,040 shares worth $36.04 million.
• Casey's General Stores reported earnings of $2.63 per share for the latest quarter, exceeding estimates by $0.69, with a revenue of $3.99 billion, which also surpassed forecasts.
• Insiders have recently sold a total of 43,646 shares of the company's stock, valued at over $22 million, indicating significant insider trading activity.

Royal Bank of Canada decreased its holdings in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 0.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 83,040 shares of the company's stock after selling 729 shares during the quarter. Royal Bank of Canada owned about 0.22% of Casey's General Stores worth $36,043,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CASY. Captrust Financial Advisors boosted its stake in Casey's General Stores by 12.5% during the 4th quarter. Captrust Financial Advisors now owns 4,042 shares of the company's stock valued at $1,602,000 after purchasing an additional 448 shares during the period. Cetera Investment Advisers boosted its stake in Casey's General Stores by 2.1% during the 4th quarter. Cetera Investment Advisers now owns 17,604 shares of the company's stock valued at $6,975,000 after purchasing an additional 355 shares during the period. Fiduciary Trust Co bought a new stake in Casey's General Stores during the 4th quarter valued at approximately $210,000. Ethic Inc. raised its holdings in Casey's General Stores by 28.2% in the 4th quarter. Ethic Inc. now owns 2,175 shares of the company's stock valued at $862,000 after acquiring an additional 479 shares in the last quarter. Finally, Focus Partners Wealth raised its holdings in Casey's General Stores by 6.6% in the 4th quarter. Focus Partners Wealth now owns 18,951 shares of the company's stock valued at $7,509,000 after acquiring an additional 1,167 shares in the last quarter. Institutional investors own 85.63% of the company's stock.

Insider Activity

In related news, insider Chad Michael Frazell sold 4,808 shares of the firm's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $503.97, for a total transaction of $2,423,087.76. Following the completion of the sale, the insider directly owned 11,480 shares of the company's stock, valued at $5,785,575.60. This trade represents a 29.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Stephen P. Bramlage, Jr. sold 760 shares of the firm's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $507.56, for a total value of $385,745.60. Following the sale, the chief financial officer directly owned 25,994 shares of the company's stock, valued at $13,193,514.64. This represents a 2.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 42,646 shares of company stock worth $21,634,454. 0.54% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Jefferies Financial Group upped their price target on Casey's General Stores from $575.00 to $600.00 and gave the company a "buy" rating in a report on Tuesday. BMO Capital Markets upped their price target on Casey's General Stores from $515.00 to $540.00 and gave the company a "market perform" rating in a report on Wednesday. Stephens reaffirmed an "overweight" rating and issued a $530.00 price target on shares of Casey's General Stores in a report on Tuesday. Evercore ISI upped their price target on Casey's General Stores from $560.00 to $580.00 and gave the company an "outperform" rating in a report on Wednesday. Finally, Royal Bank Of Canada upped their price target on Casey's General Stores from $468.00 to $542.00 and gave the company a "sector perform" rating in a report on Wednesday, July 9th. Eight investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $505.25.

Casey's General Stores Price Performance

Shares of CASY traded down $0.10 during mid-day trading on Friday, reaching $553.89. The company had a trading volume of 315,102 shares, compared to its average volume of 359,081. Casey's General Stores, Inc. has a twelve month low of $362.42 and a twelve month high of $559.37. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.03 and a quick ratio of 0.48. The company's 50-day moving average is $516.25 and its 200-day moving average is $472.05. The company has a market capitalization of $20.59 billion, a P/E ratio of 35.55 and a beta of 0.66.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its earnings results on Monday, September 8th. The company reported $5.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.02 by $0.75. Casey's General Stores had a return on equity of 16.73% and a net margin of 3.54%.The business had revenue of $4.57 billion during the quarter, compared to analysts' expectations of $4.47 billion. During the same period in the prior year, the firm posted $4.83 EPS. Casey's General Stores's quarterly revenue was up 11.5% compared to the same quarter last year. On average, equities analysts anticipate that Casey's General Stores, Inc. will post 13.94 EPS for the current year.

Casey's General Stores Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Saturday, November 1st will be issued a $0.57 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.4%. Casey's General Stores's dividend payout ratio is presently 14.63%.

Casey's General Stores Company 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.