Hsbc Holdings PLC Purchases 5,417 Shares of Casey’s General Stores, Inc. $CASY

Hsbc Holdings PLC increased its position in Casey’s General Stores, Inc. (NASDAQ:CASY) by 147.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,101 shares of the company’s stock after buying an additional 5,417 shares during the quarter. Hsbc Holdings PLC’s holdings in Casey’s General Stores were worth $6,613,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Kathmere Capital Management LLC boosted its position in Casey’s General Stores by 3.5% during the 1st quarter. Kathmere Capital Management LLC now owns 387 shares of the company’s stock valued at $282,000 after buying an additional 13 shares during the period. Pinnacle Bancorp Inc. grew its holdings in Casey’s General Stores by 4.8% in the 1st quarter. Pinnacle Bancorp Inc. now owns 303 shares of the company’s stock worth $221,000 after acquiring an additional 14 shares during the last quarter. Menard Financial Group LLC increased its position in shares of Casey’s General Stores by 1.2% in the fourth quarter. Menard Financial Group LLC now owns 1,267 shares of the company’s stock valued at $700,000 after acquiring an additional 15 shares during the period. Cibc World Market Inc. increased its position in shares of Casey’s General Stores by 0.3% in the fourth quarter. Cibc World Market Inc. now owns 5,136 shares of the company’s stock valued at $2,839,000 after acquiring an additional 16 shares during the period. Finally, FSB Premier Wealth Management Inc. raised its stake in shares of Casey’s General Stores by 0.8% during the fourth quarter. FSB Premier Wealth Management Inc. now owns 2,338 shares of the company’s stock valued at $1,292,000 after acquiring an additional 18 shares during the last quarter. 85.63% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Casey’s General Stores

In other news, insider Katrina S. Lindsey sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $800.00, for a total value of $1,600,000.00. Following the completion of the transaction, the insider owned 6,668 shares in the company, valued at $5,334,400. This trade represents a 23.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Darren M. Rebelez sold 19,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $801.46, for a total value of $15,227,740.00. Following the completion of the transaction, the chief executive officer owned 89,174 shares of the company’s stock, valued at approximately $71,469,394.04. The trade was a 17.56% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 30,243 shares of company stock worth $24,421,877. 0.54% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CASY has been the topic of several recent analyst reports. Royal Bank Of Canada raised their target price on Casey’s General Stores from $794.00 to $850.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 25th. KeyCorp upped their price target on Casey’s General Stores from $950.00 to $970.00 and gave the company an “overweight” rating in a research report on Thursday, June 11th. Wolfe Research reiterated an “outperform” rating and issued a $1,069.00 price objective on shares of Casey’s General Stores in a report on Thursday, June 11th. Capital One Financial began coverage on Casey’s General Stores in a research report on Monday, June 22nd. They issued an “equal weight” rating and a $896.00 price objective on the stock. Finally, Wall Street Zen raised Casey’s General Stores from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Fourteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Casey’s General Stores currently has a consensus rating of “Moderate Buy” and an average price target of $940.00.

Casey’s General Stores Trading Up 2.2%

Shares of CASY opened at $875.25 on Friday. The firm’s 50-day moving average price is $821.49 and its 200-day moving average price is $741.49. The firm has a market capitalization of $32.39 billion, a price-to-earnings ratio of 45.68, a PEG ratio of 2.57 and a beta of 0.62. The company has a current ratio of 1.01, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59. Casey’s General Stores, Inc. has a 1-year low of $490.00 and a 1-year high of $927.85.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.33 billion. During the same period in the prior year, the firm earned $2.63 earnings per share. Casey’s General Stores’s revenue was up 14.5% on a year-over-year basis. Sell-side analysts anticipate 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 announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Saturday, August 1st will be issued a dividend of $0.65 per share. This is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, July 31st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.3%. Casey’s General Stores’s dividend payout ratio (DPR) is currently 11.90%.

Casey’s General Stores Company Profile

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.