Casey’s General Stores, Inc. $CASY Stock Holdings Boosted by Liberty One Investment Management LLC

Liberty One Investment Management LLC increased its position in Casey’s General Stores, Inc. (NASDAQ:CASY) by 7.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,706 shares of the company’s stock after acquiring an additional 2,213 shares during the period. Casey’s General Stores makes up 2.5% of Liberty One Investment Management LLC’s portfolio, making the stock its 15th biggest position. Liberty One Investment Management LLC’s holdings in Casey’s General Stores were worth $23,806,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its stake 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 valued at $1,469,747,000 after purchasing an additional 2,657,687 shares during the period. Norges Bank acquired a new position in shares of Casey’s General Stores during the fourth quarter worth approximately $265,163,000. Franklin Resources Inc. grew its holdings in Casey’s General Stores by 40.9% in the 4th quarter. Franklin Resources Inc. now owns 1,068,682 shares of the company’s stock worth $590,671,000 after buying an additional 310,470 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Casey’s General Stores by 175.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 471,536 shares of the company’s stock worth $260,622,000 after buying an additional 300,249 shares in the last quarter. Finally, Corient Private Wealth LLC grew its holdings in 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 currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CASY has been the topic of several recent analyst reports. BMO Capital Markets raised Casey’s General Stores from a “market perform” rating to an “outperform” rating and set a $950.00 target price on the stock in a research note on Monday, June 29th. Wall Street Zen raised Casey’s General Stores from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. JPMorgan Chase & Co. raised their price target on Casey’s General Stores from $719.00 to $975.00 and gave the company a “neutral” rating in a report on Friday, June 12th. Wells Fargo & Company lifted their price objective on shares of Casey’s General Stores from $910.00 to $960.00 and gave the company an “overweight” rating in a research note on Thursday, June 11th. Finally, William Blair assumed coverage on shares of Casey’s General Stores in a report on Wednesday, May 20th. They issued an “outperform” rating for the company. Fourteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $940.00.

Insider Activity

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 transaction of $443,917.40. Following the transaction, the director directly owned 3,042 shares of the company’s stock, valued at $2,547,918.36. The trade was a 14.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chad Michael Frazell sold 3,013 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $787.49, for a total transaction of $2,372,707.37. Following the completion of the sale, the insider owned 9,823 shares in the company, valued at approximately $7,735,514.27. This trade represents a 23.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 30,243 shares of company stock valued at $24,421,877 over the last quarter. Insiders own 0.54% of the company’s stock.

Casey’s General Stores Price Performance

Shares of NASDAQ:CASY opened at $875.25 on Friday. The stock has a market cap 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 debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.60. Casey’s General Stores, Inc. has a 12 month low of $490.00 and a 12 month high of $927.85. The stock’s 50 day moving average price is $821.49 and its 200 day moving average price is $741.49.

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, beating analysts’ consensus estimates 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 period last year, the company posted $2.63 EPS. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. Equities research 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 company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Saturday, August 1st will be paid a dividend of $0.65 per share. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.57. This represents a $2.60 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Friday, July 31st. Casey’s General Stores’s dividend payout ratio (DPR) is 11.90%.

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.