TD Asset Management Inc Has $59.55 Million Position in Casey's General Stores, Inc. (NASDAQ:CASY)

Key Points

• TD Asset Management Inc increased its stake in Casey's General Stores by 1.3%, owning a total of 137,200 shares worth approximately $59.55 million.
• Casey's General Stores recently reported quarterly earnings of $2.63 EPS, surpassing analysts' estimates and reflecting a 10.9% year-over-year revenue growth.
• The company announced a quarterly dividend of $0.57, an increase from the previous dividend of $0.50, with a payout ratio currently at 13.66%.

TD Asset Management Inc boosted its holdings in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 1.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 137,200 shares of the company's stock after acquiring an additional 1,800 shares during the quarter. TD Asset Management Inc owned about 0.37% of Casey's General Stores worth $59,550,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Flagship Harbor Advisors LLC grew its stake in shares of Casey's General Stores by 4.1% in the 1st quarter. Flagship Harbor Advisors LLC now owns 590 shares of the company's stock valued at $256,000 after buying an additional 23 shares in the last quarter. HighPoint Advisor Group LLC increased its stake in shares of Casey's General Stores by 1.7% in the fourth quarter. HighPoint Advisor Group LLC now owns 1,468 shares of the company's stock valued at $628,000 after buying an additional 25 shares in the last quarter. Burns J W & Co. Inc. NY boosted its holdings in Casey's General Stores by 2.1% in the first quarter. Burns J W & Co. Inc. NY now owns 1,204 shares of the company's stock valued at $522,000 after acquiring an additional 25 shares during the last quarter. Sunbelt Securities Inc. boosted its holdings in Casey's General Stores by 1.4% in the first quarter. Sunbelt Securities Inc. now owns 1,870 shares of the company's stock valued at $812,000 after acquiring an additional 26 shares during the last quarter. Finally, Iron Horse Wealth Management LLC boosted its holdings in Casey's General Stores by 40.0% during the first quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company's stock worth $40,000 after buying an additional 26 shares during the last quarter. 85.63% of the stock is currently owned by institutional investors.

Casey's General Stores Stock Performance

CASY traded down $3.08 on Tuesday, reaching $521.96. The stock had a trading volume of 254,187 shares, compared to its average volume of 365,048. Casey's General Stores, Inc. has a 12-month low of $350.52 and a 12-month high of $531.24. 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 business's 50-day moving average price is $492.78 and its two-hundred day moving average price is $449.57. The company has a market cap of $19.41 billion, a P/E ratio of 35.65 and a beta of 0.69.

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 for the quarter, beating the consensus estimate of $1.94 by $0.69. Casey's General Stores had a net margin of 3.43% and a return on equity of 16.28%. The company had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.95 billion. During the same period in the previous year, the business posted $2.34 EPS. Casey's General Stores's revenue was up 10.9% on a year-over-year basis. Sell-side analysts forecast that Casey's General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey's General Stores Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be paid a dividend of $0.57 per share. This is a positive change from Casey's General Stores's previous quarterly dividend of $0.50. This represents a $2.28 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Friday, August 1st. Casey's General Stores's dividend payout ratio (DPR) is currently 15.57%.

Insider Activity at Casey's General Stores

In related news, insider Chad Michael Frazell sold 4,808 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $503.97, for a total transaction of $2,423,087.76. Following the completion of the transaction, the insider owned 11,480 shares of the company's stock, valued at approximately $5,785,575.60. This represents a 29.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Darren M. Rebelez sold 20,000 shares of the company's stock in a transaction 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 transaction, 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. Insiders sold a total of 43,646 shares of company stock worth $22,136,614 in the last three months. Company insiders own 0.56% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. The Goldman Sachs Group boosted their price target on 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. Wells Fargo & Company upped their target price on 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 set a $575.00 price target on Casey's General Stores and gave the company an "overweight" rating in a research report on Friday. Wall Street Zen raised Casey's General Stores from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Finally, Stephens restated an "overweight" rating and set a $490.00 price target on shares of Casey's General Stores in a research report on Tuesday, June 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $467.33.

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.