US Bancorp DE Has $2.60 Million Holdings in Casey's General Stores, Inc. $CASY

Key Points

• US Bancorp DE reduced their stake in Casey's General Stores by 18.7%, holding approximately $2.60 million in shares at the end of the second quarter.
• Several analysts have raised their price targets for Casey's General Stores, with KeyCorp setting a new target of $575 and Wells Fargo at $580.
• The company reported a quarterly earnings per share of $5.77, exceeding expectations and indicating an 11.5% increase in revenue compared to the previous year.

US Bancorp DE lowered its position in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 18.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,090 shares of the company's stock after selling 1,170 shares during the quarter. US Bancorp DE's holdings in Casey's General Stores were worth $2,598,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Valmark Advisers Inc. boosted its position in Casey's General Stores by 0.5% during the second quarter. Valmark Advisers Inc. now owns 4,404 shares of the company's stock valued at $2,247,000 after purchasing an additional 21 shares during the last quarter. Independent Solutions Wealth Management LLC boosted its holdings in shares of Casey's General Stores by 2.6% in the 2nd quarter. Independent Solutions Wealth Management LLC now owns 5,317 shares of the company's stock valued at $2,713,000 after buying an additional 135 shares during the last quarter. Trueblood Wealth Management LLC boosted its holdings in shares of Casey's General Stores by 7.1% in the 2nd quarter. Trueblood Wealth Management LLC now owns 2,310 shares of the company's stock valued at $1,179,000 after buying an additional 154 shares during the last quarter. Knights of Columbus Asset Advisors LLC boosted its holdings in shares of Casey's General Stores by 7.6% in the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 8,749 shares of the company's stock valued at $4,464,000 after buying an additional 618 shares during the last quarter. Finally, JSF Financial LLC lifted its stake in Casey's General Stores by 10.1% in the second quarter. JSF Financial LLC now owns 2,546 shares of the company's stock valued at $1,299,000 after acquiring an additional 234 shares during the last quarter. Institutional investors and hedge funds own 85.63% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CASY shares. KeyCorp raised their target price on shares of Casey's General Stores from $550.00 to $575.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Wells Fargo & Company raised their price objective on Casey's General Stores from $540.00 to $580.00 and gave the company an "overweight" rating in a research report on Monday, September 8th. Royal Bank Of Canada raised their price objective on Casey's General Stores from $468.00 to $542.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 9th. Jefferies Financial Group raised their price objective on Casey's General Stores from $575.00 to $600.00 and gave the company a "buy" rating in a research report on Tuesday, September 9th. Finally, BMO Capital Markets raised 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, September 10th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Casey's General Stores currently has a consensus rating of "Moderate Buy" and a consensus target price of $533.10.

Casey's General Stores Price Performance

Shares of Casey's General Stores stock opened at $561.19 on Wednesday. The company has a quick ratio of 0.61, a current ratio of 1.03 and a debt-to-equity ratio of 0.65. Casey's General Stores, Inc. has a twelve month low of $372.08 and a twelve month high of $572.18. The company has a 50-day simple moving average of $531.41 and a two-hundred day simple moving average of $495.55. The stock has a market capitalization of $20.87 billion, a price-to-earnings ratio of 36.02 and a beta of 0.68.

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

Casey's General Stores Dividend Announcement

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

Insider Transactions at Casey's General Stores

In other Casey's General Stores news, insider Chad Michael Frazell sold 3,487 shares of the company's stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $555.40, for a total value of $1,936,679.80. Following the completion of the transaction, the insider directly owned 7,993 shares in the company, valued at approximately $4,439,312.20. This represents a 30.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.54% of the company's stock.

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.

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