Swiss National Bank Sells 1,100 Shares of Casey's General Stores, Inc. (NASDAQ:CASY)

Key Points

• The Swiss National Bank decreased its stake in Casey's General Stores by 1.5% during Q1, owning approximately $31.20 million worth of shares as of its latest SEC filing.
• Casey's reported $2.63 earnings per share for the latest quarter, exceeding analysts' expectations of $1.94, alongside revenue of $3.99 billion.
• The company announced an increase in its quarterly dividend from $0.50 to $0.57 per share, representing a yield of 0.4%.

Swiss National Bank lowered its holdings in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 1.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,887 shares of the company's stock after selling 1,100 shares during the period. Swiss National Bank owned about 0.19% of Casey's General Stores worth $31,202,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Natixis grew its stake in shares of Casey's General Stores by 21.9% in the 4th quarter. Natixis now owns 8,337 shares of the company's stock worth $3,303,000 after purchasing an additional 1,499 shares during the last quarter. Integrated Wealth Concepts LLC increased its position in shares of Casey's General Stores by 50.2% in the fourth quarter. Integrated Wealth Concepts LLC now owns 2,592 shares of the company's stock worth $1,027,000 after acquiring an additional 866 shares in the last quarter. Security National Bank increased its position in shares of Casey's General Stores by 9.7% in the first quarter. Security National Bank now owns 5,674 shares of the company's stock worth $2,463,000 after acquiring an additional 504 shares in the last quarter. Cornerstone Wealth Management LLC purchased a new position in shares of Casey's General Stores in the first quarter worth approximately $201,000. Finally, M&T Bank Corp increased its position in shares of Casey's General Stores by 39.6% in the first quarter. M&T Bank Corp now owns 2,515 shares of the company's stock worth $1,092,000 after acquiring an additional 713 shares in the last quarter. Institutional investors and hedge funds own 85.63% of the company's stock.

Insider Transactions at Casey's General Stores

In other Casey's General Stores news, Director Mike Spanos bought 200 shares of Casey's General Stores stock in a transaction on Monday, June 30th. The stock was purchased at an average cost of $503.18 per share, for a total transaction of $100,636.00. Following the completion of the purchase, the director directly owned 3,560 shares of the company's stock, valued at $1,791,320.80. The trade was a 5.95% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Darren M. Rebelez sold 20,000 shares of Casey's General Stores stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $507.83, for a total transaction of $10,156,600.00. Following the completion of the sale, the chief executive officer owned 89,840 shares of the company's stock, valued at $45,623,447.20. This trade represents a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,646 shares of company stock valued at $22,136,614. Insiders own 0.54% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group lifted their target price on shares of Casey's General Stores from $385.00 to $450.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 11th. KeyCorp lifted their target price on shares of Casey's General Stores from $550.00 to $575.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Royal Bank Of Canada lifted their target price on shares of 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. Wells Fargo & Company lifted their target price on shares of Casey's General Stores from $460.00 to $540.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 11th. Finally, Wall Street Zen upgraded shares of Casey's General Stores from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. One 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. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $467.33.

Casey's General Stores Stock Down 0.4%

NASDAQ CASY traded down $1.91 during trading on Friday, reaching $506.27. The company's stock had a trading volume of 97,026 shares, compared to its average volume of 352,210. 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 stock has a market capitalization of $18.82 billion, a PE ratio of 34.58 and a beta of 0.69. The business has a 50-day moving average price of $511.81 and a 200-day moving average price of $459.58. Casey's General Stores, Inc. has a 1-year low of $350.52 and a 1-year high of $531.24.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its earnings results on Monday, June 9th. The company reported $2.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.94 by $0.69. The firm had revenue of $3.99 billion during the quarter, compared to analysts' expectations of $3.95 billion. Casey's General Stores had a net margin of 3.43% and a return on equity of 16.28%. The company's revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.34 earnings per share. On average, research analysts forecast 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 firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 0.5%. This is a boost from Casey's General Stores's previous quarterly dividend of $0.50. The ex-dividend date is Friday, August 1st. Casey's General Stores's dividend payout ratio is presently 15.57%.

About Casey's General Stores

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.