MidFirst Bank Purchases Shares of 993 Casey’s General Stores, Inc. $CASY

MidFirst Bank acquired a new position in Casey’s General Stores, Inc. (NASDAQ:CASY) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 993 shares of the company’s stock, valued at approximately $549,000.

Several other hedge funds have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Casey’s General Stores by 179,938.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,659,164 shares of the company’s stock valued at $1,469,747,000 after purchasing an additional 2,657,687 shares in the last quarter. Norges Bank purchased a new stake in Casey’s General Stores during the fourth quarter valued at $265,163,000. Franklin Resources Inc. lifted its position in Casey’s General Stores by 40.9% during the fourth quarter. Franklin Resources Inc. now owns 1,068,682 shares of the company’s stock valued at $590,671,000 after purchasing an additional 310,470 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Casey’s General Stores by 175.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 471,536 shares of the company’s stock valued at $260,622,000 after purchasing an additional 300,249 shares during the last quarter. Finally, Corient Private Wealth LLC grew its stake in shares of Casey’s General Stores by 115.9% in the 4th quarter. Corient Private Wealth LLC now owns 423,666 shares of the company’s stock worth $234,164,000 after buying an additional 227,403 shares in the last quarter. 85.63% of the stock is owned by hedge funds and other institutional investors.

Casey’s General Stores Stock Performance

CASY stock opened at $842.25 on Friday. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. The business’s fifty day simple moving average is $812.00 and its two-hundred day simple moving average is $695.95. Casey’s General Stores, Inc. has a twelve month low of $490.00 and a twelve month high of $927.85. The firm has a market cap of $31.13 billion, a price-to-earnings ratio of 43.96, a PEG ratio of 2.55 and a beta of 0.61.

Casey’s General Stores (NASDAQ:CASY) last issued its earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.31 by $1.06. The firm had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.33 billion. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. The business’s revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.63 earnings per share. Analysts predict that Casey’s General Stores, Inc. will post 20.9 earnings per share for the current year.

Casey’s General Stores Increases Dividend

The business 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 is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, July 31st. This represents a $2.60 annualized dividend and a yield of 0.3%. Casey’s General Stores’s dividend payout ratio is presently 11.90%.

Analyst Upgrades and Downgrades

CASY has been the topic of a number of research reports. Weiss Ratings restated a “buy (b)” rating on shares of Casey’s General Stores in a report on Friday, March 27th. Zacks Research lowered Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 5th. Wolfe Research reissued an “outperform” rating and set a $1,069.00 price objective on shares of Casey’s General Stores in a research note on Thursday, June 11th. Morgan Stanley upgraded Casey’s General Stores to a “buy” rating in a research report on Wednesday, June 10th. Finally, William Blair assumed coverage on Casey’s General Stores in a research note on Wednesday, May 20th. They issued an “outperform” rating for the company. Eleven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $925.25.

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.