Zions Bancorporation National Association UT Invests $3.31 Million in Casey's General Stores, Inc. (NASDAQ:CASY)

Key Points

• Zions Bancorporation has made a new investment in Casey's General Stores, Inc., purchasing 7,636 shares worth approximately $3.31 million.
• Analysts have raised price targets for Casey's General Stores, with KeyCorp setting a new target of $575.00, reflecting a positive outlook on the stock.
• Casey's General Stores has increased its quarterly dividend to $0.57 per share, representing a 0.4% dividend yield and demonstrating continued financial robustness.

Zions Bancorporation National Association UT bought a new stake in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 7,636 shares of the company's stock, valued at approximately $3,314,000.

A number of other hedge funds have also recently modified their holdings of CASY. Versant Capital Management Inc bought a new position in shares of Casey's General Stores during the 1st quarter valued at approximately $25,000. Global Financial Private Client LLC boosted its stake in Casey's General Stores by 325.0% in the 1st quarter. Global Financial Private Client LLC now owns 68 shares of the company's stock worth $30,000 after purchasing an additional 52 shares during the period. Iron Horse Wealth Management LLC boosted its stake in Casey's General Stores by 40.0% in the 1st quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company's stock worth $40,000 after purchasing an additional 26 shares during the period. Whipplewood Advisors LLC boosted its stake in Casey's General Stores by 160.0% in the 1st quarter. Whipplewood Advisors LLC now owns 117 shares of the company's stock worth $51,000 after purchasing an additional 72 shares during the period. Finally, Wayfinding Financial LLC bought a new position in Casey's General Stores in the 1st quarter worth approximately $59,000. Institutional investors own 85.63% of the company's stock.

Casey's General Stores Stock Performance

Casey's General Stores stock traded up $0.69 during mid-day trading on Friday, hitting $518.97. 209,420 shares of the company's stock traded hands, compared to its average volume of 258,051. Casey's General Stores, Inc. has a one year low of $350.52 and a one year high of $531.24. The company has a market cap of $19.30 billion, a PE ratio of 35.45 and a beta of 0.69. The firm has a 50 day moving average price of $506.09 and a 200 day moving average price of $457.42. The company has a quick ratio of 0.48, a current ratio of 0.92 and a debt-to-equity ratio of 0.69.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its earnings results on Monday, June 9th. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.94 by $0.69. The business had revenue of $3.99 billion for the quarter, compared to analysts' expectations of $3.95 billion. Casey's General Stores had a return on equity of 16.28% and a net margin of 3.43%. The company's quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.34 EPS. On average, equities analysts forecast that Casey's General Stores, Inc. will post 13.94 EPS for the current year.

Casey's General Stores Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be paid a $0.57 dividend. The ex-dividend date is Friday, August 1st. This is a boost from Casey's General Stores's previous quarterly dividend of $0.50. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.4%. Casey's General Stores's dividend payout ratio is presently 15.57%.

Insiders Place Their Bets

In other news, insider Thomas P. Brennan, Jr. sold 6,600 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $506.03, for a total value of $3,339,798.00. Following the transaction, the insider directly owned 2,100 shares of the company's stock, valued at $1,062,663. The trade was a 75.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Stephen P. Bramlage, Jr. sold 8,478 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $509.21, for a total value of $4,317,082.38. Following the completion of the transaction, the chief financial officer directly owned 26,754 shares in the company, valued at $13,623,404.34. The trade was a 24.06% 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 valued at $22,136,614 in the last ninety days. Company insiders own 0.54% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CASY shares. KeyCorp increased their price target on Casey's General Stores from $550.00 to $575.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Stephens reissued 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. The Goldman Sachs Group increased 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 increased their price target on 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, Royal Bank Of Canada increased their price target on 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Casey's General Stores presently has a consensus rating of "Moderate Buy" and a consensus target price of $467.33.

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.