Commerce Bank Takes $11.48 Million Position in Casey’s General Stores, Inc. $CASY

Commerce Bank acquired a new stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 14,448 shares of the company’s stock, valued at approximately $11,483,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CASY. Bell Investment Advisors Inc bought a new position in Casey’s General Stores in the 2nd quarter valued at $33,000. Whipplewood Advisors LLC purchased a new position in shares of Casey’s General Stores during the 1st quarter valued at $33,000. RMG Wealth Management LLC increased its holdings 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 period. Johnson Financial Group Inc. bought a new position in shares of Casey’s General Stores in the second quarter worth $55,000. Finally, Western Pacific Wealth Management LP purchased a new stake in shares of Casey’s General Stores in the first quarter worth $52,000. Institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Price Performance

CASY opened at $835.74 on Monday. The stock has a market cap of $30.93 billion, a PE ratio of 43.62, a P/E/G ratio of 2.86 and a beta of 0.61. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. Casey’s General Stores, Inc. has a 52 week low of $490.00 and a 52 week high of $927.85. The business’s fifty day simple moving average is $837.28 and its 200 day simple moving average is $776.94.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.31 by $1.06. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.The firm had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.33 billion. During the same quarter in the previous year, the company posted $2.63 earnings per share. The company’s revenue was up 14.5% compared to the same quarter last year. As a group, research analysts expect that Casey’s General Stores, Inc. will post 21.11 earnings per share for the current fiscal year.

Casey’s General Stores Increases Dividend

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

Insider Buying and Selling

In related news, CEO Darren M. Rebelez sold 19,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $801.46, for a total value of $15,227,740.00. Following the completion of the sale, the chief executive officer owned 89,174 shares in the company, valued at $71,469,394.04. The trade was a 17.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Katrina S. Lindsey sold 2,000 shares of the company’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 sale, the insider directly owned 6,668 shares of the company’s stock, valued at approximately $5,334,400. This represents a 23.07% 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 worth $24,421,877 over the last ninety days. Corporate insiders own 0.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CASY. Wall Street Zen raised Casey’s General Stores from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. William Blair assumed coverage on Casey’s General Stores in a research note on Wednesday, May 20th. They issued an “outperform” rating on the stock. Weiss Ratings cut Casey’s General Stores from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, July 21st. UBS Group lifted their price target on Casey’s General Stores from $805.00 to $945.00 and gave the company a “neutral” rating in a research report on Thursday, June 11th. Finally, The Goldman Sachs Group boosted their price objective on Casey’s General Stores from $695.00 to $795.00 and gave the stock a “neutral” rating in a report on Thursday, June 25th. Fourteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $944.20.

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.