Royal Bank of Canada Reduces Stock Holdings in Casey’s General Stores, Inc. $CASY

Royal Bank of Canada reduced its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 10.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 78,043 shares of the company’s stock after selling 8,813 shares during the period. Royal Bank of Canada’s holdings in Casey’s General Stores were worth $56,805,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in CASY. NewEdge Advisors LLC raised its stake in Casey’s General Stores by 6.4% in the 1st quarter. NewEdge Advisors LLC now owns 1,871 shares of the company’s stock valued at $812,000 after purchasing an additional 113 shares during the last quarter. Geneos Wealth Management Inc. increased its position in Casey’s General Stores by 129.6% during the first quarter. Geneos Wealth Management Inc. now owns 186 shares of the company’s stock worth $81,000 after purchasing an additional 105 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Casey’s General Stores by 431.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company’s stock worth $111,000 after buying an additional 177 shares during the period. Amundi purchased a new position in shares of Casey’s General Stores in the 2nd quarter worth about $338,000. Finally, Jump Financial LLC raised its holdings in Casey’s General Stores by 42.6% in the second quarter. Jump Financial LLC now owns 968 shares of the company’s stock valued at $494,000 after buying an additional 289 shares during the period. 85.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CASY has been the topic of several research reports. Wolfe Research reissued an “outperform” rating and issued a $1,069.00 price objective on shares of Casey’s General Stores in a research report on Thursday, June 11th. Evercore reaffirmed an “outperform” rating and issued a $990.00 price target on shares of Casey’s General Stores in a report on Friday, June 12th. UBS Group upped their price objective on Casey’s General Stores from $805.00 to $945.00 and gave the company a “neutral” rating in a research note on Thursday, June 11th. William Blair began coverage on shares of Casey’s General Stores in a report on Wednesday, May 20th. They set an “outperform” rating on the stock. Finally, The Goldman Sachs Group upped their price objective on Casey’s General Stores from $695.00 to $795.00 and gave the stock a “neutral” rating in a research note on Thursday, June 25th. Fourteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $944.20.

Insider Activity at Casey’s General Stores

In other Casey’s General Stores news, Director Allison M. Wing sold 530 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $837.58, for a total value of $443,917.40. Following the completion of the transaction, the director directly owned 3,042 shares in the company, valued at $2,547,918.36. This trade represents a 14.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $838.16, for a total transaction of $4,777,512.00. Following the completion of the transaction, the chief financial officer directly owned 29,677 shares of the company’s stock, valued at $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. In the last ninety days, insiders sold 30,243 shares of company stock valued at $24,421,877. Corporate insiders own 0.67% of the company’s stock.

Casey’s General Stores Stock Up 0.4%

Shares of CASY stock opened at $871.00 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 1.01. The business’s fifty day moving average is $823.78 and its 200-day moving average is $752.36. Casey’s General Stores, Inc. has a 1 year low of $490.00 and a 1 year high of $927.85. The stock has a market cap of $32.24 billion, a PE ratio of 45.46, a price-to-earnings-growth ratio of 2.61 and a beta of 0.62.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, beating 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 company earned $2.63 EPS. Casey’s General Stores’s revenue was up 14.5% on a year-over-year basis. Equities analysts expect 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 will be paid on Friday, August 14th. Stockholders of record on Saturday, August 1st will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.3%. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, July 31st. Casey’s General Stores’s payout ratio is presently 11.90%.

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.