Trust Co. of Oklahoma Purchases New Stake in Casey's General Stores, Inc. $CASY

Key Points

• Trust Co. of Oklahoma acquired a stake in Casey's General Stores worth approximately $396,000, purchasing 777 shares during the 2nd quarter.
• Analysts have raised their price targets for Casey's General Stores, with Jefferies increasing their target to $600.00 and BMO Capital Markets to $540.00, reflecting a strong market sentiment.
• Casey's announced a quarterly dividend of $0.57 per share, set to pay out on November 14th, representing a 0.4% yield on an annualized basis.

Trust Co. of Oklahoma acquired a new position in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 777 shares of the company's stock, valued at approximately $396,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Versant Capital Management Inc purchased a new stake in shares of Casey's General Stores during the 1st quarter worth approximately $25,000. Global Financial Private Client LLC grew its holdings in Casey's General Stores by 325.0% during the first quarter. Global Financial Private Client LLC now owns 68 shares of the company's stock valued at $30,000 after purchasing an additional 52 shares during the period. Summit Securities Group LLC purchased a new stake in Casey's General Stores in the first quarter worth $32,000. Iron Horse Wealth Management LLC increased its position in Casey's General Stores by 40.0% in 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. Finally, WPG Advisers LLC purchased a new position in shares of Casey's General Stores during the 1st quarter valued at $47,000. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Casey's General Stores news, Director Mike Spanos purchased 200 shares of the company's stock in a transaction dated Monday, June 30th. The stock was purchased at an average price of $503.18 per share, for a total transaction of $100,636.00. Following the transaction, the director owned 3,560 shares in the company, valued at $1,791,320.80. The trade was a 5.95% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Darren M. Rebelez sold 20,000 shares of the business's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $507.83, for a total value of $10,156,600.00. Following the transaction, the chief executive officer directly owned 89,840 shares of the company's stock, valued at $45,623,447.20. The trade was a 18.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,646 shares of company stock valued at $21,634,454 in the last ninety days. 0.54% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CASY. Jefferies Financial Group lifted their price objective on Casey's General Stores from $575.00 to $600.00 and gave the stock a "buy" rating in a report on Tuesday, September 9th. BMO Capital Markets lifted their target price on shares of Casey's General Stores from $515.00 to $540.00 and gave the stock a "market perform" rating in a research note on Wednesday. KeyCorp boosted their price target on shares of Casey's General Stores from $550.00 to $575.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Stephens reaffirmed an "overweight" rating and issued a $530.00 price objective on shares of Casey's General Stores in a report on Tuesday, September 9th. Finally, Royal Bank Of Canada lifted their price objective on shares of Casey's General Stores from $468.00 to $542.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 9th. Eight equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $505.25.

Casey's General Stores Trading Down 0.0%

Shares of Casey's General Stores stock opened at $553.89 on Friday. The company's 50-day moving average price is $516.25 and its 200-day moving average price is $472.43. The company has a current ratio of 1.03, a quick ratio of 0.48 and a debt-to-equity ratio of 0.65. Casey's General Stores, Inc. has a 12-month low of $362.42 and a 12-month high of $559.37. The company has a market cap of $20.59 billion, a price-to-earnings ratio of 35.55 and a beta of 0.66.

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

Casey's General Stores Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Saturday, November 1st will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Friday, October 31st. Casey's General Stores's dividend payout ratio (DPR) is 14.63%.

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.

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