Whittier Trust Co. of Nevada Inc. Purchases 491 Shares of Casey's General Stores, Inc. $CASY

Key Points

• Whittier Trust Co. of Nevada Inc. increased its stake in Casey's General Stores by 3.2%, acquiring an additional 491 shares, bringing its total holdings to 15,924 shares valued at approximately $8.12 million.
• Casey's recently reported a quarterly earnings per share (EPS) of $5.77, exceeding analysts' expectations by 75 cents, and its revenue reached $4.57 billion for the quarter.
• The company declared a quarterly dividend of $0.57 per share, with a dividend payout ratio of 14.63%, to be paid on November 14th, 2023.

Whittier Trust Co. of Nevada Inc. raised its position in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 3.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,924 shares of the company's stock after purchasing an additional 491 shares during the period. Whittier Trust Co. of Nevada Inc.'s holdings in Casey's General Stores were worth $8,125,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of CASY. Wellington Management Group LLP grew its holdings in Casey's General Stores by 190.6% during the first quarter. Wellington Management Group LLP now owns 1,244,311 shares of the company's stock valued at $540,081,000 after purchasing an additional 816,110 shares during the period. JPMorgan Chase & Co. grew its holdings in Casey's General Stores by 42.0% during the first quarter. JPMorgan Chase & Co. now owns 1,036,426 shares of the company's stock valued at $449,851,000 after purchasing an additional 306,628 shares during the period. Third Point LLC bought a new position in Casey's General Stores during the first quarter valued at $130,212,000. Nuveen LLC bought a new position in Casey's General Stores during the first quarter valued at $76,467,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Casey's General Stores by 51.5% during the first quarter. Bank of New York Mellon Corp now owns 515,603 shares of the company's stock worth $223,792,000 after acquiring an additional 175,372 shares in the last quarter. 85.63% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Casey's General Stores news, insider Chad Michael Frazell sold 3,487 shares of the firm's stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $555.40, for a total transaction of $1,936,679.80. Following the sale, the insider owned 7,993 shares in the company, valued at $4,439,312.20. This trade represents a 30.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.54% of the stock is owned by insiders.

Casey's General Stores Price Performance

NASDAQ:CASY opened at $564.40 on Tuesday. The firm has a market capitalization of $20.98 billion, a price-to-earnings ratio of 36.23 and a beta of 0.68. Casey's General Stores, Inc. has a 52-week low of $372.08 and a 52-week high of $572.18. The stock has a fifty day moving average of $535.05 and a 200 day moving average of $499.52. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.61 and a current ratio of 1.03.

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

Casey's General Stores Announces Dividend

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

Analyst Ratings Changes

A number of analysts recently issued reports on CASY shares. Evercore ISI boosted their price objective on Casey's General Stores from $560.00 to $580.00 and gave the company an "outperform" rating in a research note on Wednesday, September 10th. KeyCorp raised their target price on Casey's General Stores from $550.00 to $575.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Royal Bank Of Canada raised their target price on Casey's General Stores from $468.00 to $542.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 9th. BMO Capital Markets raised their target price on Casey's General Stores from $515.00 to $540.00 and gave the stock a "market perform" rating in a research note on Wednesday, September 10th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Casey's General Stores in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Casey's General Stores presently has an average rating of "Moderate Buy" and an average price target of $536.10.

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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