Perigon Wealth Management LLC Acquires New Shares in Casey’s General Stores, Inc. $CASY

Perigon Wealth Management LLC bought a new stake in Casey’s General Stores, Inc. (NASDAQ:CASY) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 676 shares of the company’s stock, valued at approximately $537,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CASY. Northwestern Mutual Wealth Management Co. increased its position in Casey’s General Stores by 179,938.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,659,164 shares of the company’s stock worth $1,469,747,000 after purchasing an additional 2,657,687 shares in the last quarter. Norges Bank bought a new position in shares of Casey’s General Stores in the 4th quarter valued at $265,163,000. Bank of New York Mellon Corp acquired a new stake in shares of Casey’s General Stores during the 2nd quarter valued at $281,011,000. Franklin Resources Inc. grew its position in Casey’s General Stores by 40.9% during the 4th quarter. Franklin Resources Inc. now owns 1,068,682 shares of the company’s stock worth $590,671,000 after acquiring an additional 310,470 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Casey’s General Stores by 175.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 471,536 shares of the company’s stock worth $260,622,000 after acquiring an additional 300,249 shares during the last quarter. Institutional investors own 85.63% of the company’s stock.

Insider Buying and Selling at Casey’s General Stores

In other Casey’s General Stores news, CEO Darren M. Rebelez sold 19,000 shares of the firm’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $801.46, for a total transaction of $15,227,740.00. Following the transaction, the chief executive officer directly owned 89,174 shares in the company, valued at approximately $71,469,394.04. This trade represents a 17.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $838.16, for a total transaction of $4,777,512.00. Following the completion of the sale, the chief financial officer owned 29,677 shares of the company’s stock, valued at approximately $24,874,074.32. This represents a 16.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 30,243 shares of company stock valued at $24,421,877 in the last three months. Insiders own 0.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. JPMorgan Chase & Co. lifted their price target on Casey’s General Stores from $719.00 to $975.00 and gave the company a “neutral” rating in a research note on Friday, June 12th. William Blair initiated coverage on shares of Casey’s General Stores in a report on Wednesday, May 20th. They set an “outperform” rating on the stock. KeyCorp increased their price objective on Casey’s General Stores from $950.00 to $970.00 and gave the company an “overweight” rating in a report on Thursday, June 11th. The Goldman Sachs Group upped their price target on Casey’s General Stores from $695.00 to $795.00 and gave the company a “neutral” rating in a research report on Thursday, June 25th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $913.00 target price on shares of Casey’s General Stores in a research report on Wednesday, July 29th. Fourteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Casey’s General Stores has a consensus rating of “Moderate Buy” and a consensus price target of $944.20.

Casey’s General Stores Trading Down 2.2%

Shares of Casey’s General Stores stock opened at $836.15 on Thursday. The stock has a market capitalization of $30.95 billion, a PE ratio of 43.64, a price-to-earnings-growth ratio of 2.56 and a beta of 0.61. Casey’s General Stores, Inc. has a 52 week low of $490.00 and a 52 week high of $927.85. The stock has a 50 day moving average price of $840.22 and a two-hundred day moving average price of $773.90. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 1.01.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly 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 business had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.33 billion. During the same quarter last year, the firm posted $2.63 EPS. Casey’s General Stores’s revenue was up 14.5% compared to the same quarter last year. As a group, equities analysts anticipate that Casey’s General Stores, Inc. will post 21.14 earnings per share for the current fiscal year.

Casey’s General Stores Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Saturday, August 1st were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, July 31st. This is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.57. This represents a $2.60 annualized dividend and a dividend yield of 0.3%. Casey’s General Stores’s payout ratio is presently 13.57%.

Casey’s General Stores 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.