Casey’s General Stores, Inc. $CASY Shares Sold by Trust Point Inc.

Trust Point Inc. decreased its position in Casey’s General Stores, Inc. (NASDAQ:CASY) by 65.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 401 shares of the company’s stock after selling 757 shares during the period. Trust Point Inc.’s holdings in Casey’s General Stores were worth $319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC acquired a new position in shares of Casey’s General Stores in the first quarter valued at about $33,000. RMG Wealth Management LLC raised its stake in shares of Casey’s General Stores by 250.0% in the first quarter. RMG Wealth Management LLC now owns 56 shares of the company’s stock worth $41,000 after purchasing an additional 40 shares during the last quarter. Western Pacific Wealth Management LP acquired a new stake in shares of Casey’s General Stores during the first quarter worth about $52,000. Larson Financial Group LLC lifted its holdings in shares of Casey’s General Stores by 252.4% during the fourth quarter. Larson Financial Group LLC now owns 74 shares of the company’s stock worth $41,000 after purchasing an additional 53 shares during the period. Finally, Elyxium Wealth LLC purchased a new stake in Casey’s General Stores in the fourth quarter valued at approximately $43,000. Institutional investors and hedge funds own 85.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CASY. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $913.00 price target on shares of Casey’s General Stores in a report on Wednesday, July 29th. Evercore restated an “outperform” rating and set a $990.00 price objective on shares of Casey’s General Stores in a research note on Friday, June 12th. BNP Paribas Exane dropped their price objective on shares of Casey’s General Stores from $1,032.00 to $995.00 and set an “outperform” rating on the stock in a report on Thursday, June 25th. KeyCorp increased their price objective on shares of Casey’s General Stores from $950.00 to $970.00 and gave the stock an “overweight” rating in a research note on Thursday, June 11th. Finally, Stephens set a $975.00 target price on shares of Casey’s General Stores and gave the stock an “overweight” rating in a report on Friday, June 12th. Fourteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $944.20.

Insiders Place Their Bets

In related news, Director Allison M. Wing sold 530 shares of Casey’s General Stores stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $837.58, for a total value of $443,917.40. Following the completion of the transaction, the director owned 3,042 shares in the company, valued at $2,547,918.36. The trade was a 14.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chad Michael Frazell sold 3,013 shares of the company’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $787.49, for a total value of $2,372,707.37. Following the completion of the transaction, the insider directly owned 9,823 shares of the company’s stock, valued at $7,735,514.27. The trade was a 23.47% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 30,243 shares of company stock valued at $24,421,877. Insiders own 0.67% of the company’s stock.

Casey’s General Stores Price Performance

Shares of NASDAQ CASY opened at $833.95 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.60. The stock has a market capitalization of $30.86 billion, a price-to-earnings ratio of 43.53, a PEG ratio of 2.50 and a beta of 0.61. The firm’s 50 day simple moving average is $829.04 and its 200-day simple moving average is $761.10. Casey’s General Stores, Inc. has a 12 month low of $490.00 and a 12 month high of $927.85.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.31 by $1.06. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. The firm had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.33 billion. During the same period in the previous year, the business posted $2.63 EPS. The business’s revenue was up 14.5% compared to the same quarter last year. Analysts expect that Casey’s General Stores, Inc. will post 21.14 EPS for the current year.

Casey’s General Stores Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Saturday, August 1st will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.3%. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, July 31st. Casey’s General Stores’s payout ratio is currently 13.57%.

About Casey’s General Stores

Casey’s General Stores, Inc (NASDAQ: CASY) is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.