Deutsche Bank AG Invests $92.59 Million in Casey’s General Stores, Inc. $CASY

Deutsche Bank AG purchased a new stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 116,497 shares of the company’s stock, valued at approximately $92,591,000.

Other institutional investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its position in shares of 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 acquiring an additional 2,657,687 shares during the last quarter. Norges Bank purchased a new stake in shares of Casey’s General Stores during the 4th quarter valued at about $265,163,000. Bank of New York Mellon Corp purchased a new stake in Casey’s General Stores during the second quarter valued at approximately $281,011,000. Franklin Resources Inc. lifted its stake in shares of 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 valued at $590,671,000 after purchasing an additional 310,470 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of 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 purchasing an additional 300,249 shares during the period. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Stock Performance

Shares of CASY stock opened at $828.38 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59. Casey’s General Stores, Inc. has a 12-month low of $490.00 and a 12-month high of $927.85. The company has a market capitalization of $30.66 billion, a P/E ratio of 43.23, a P/E/G ratio of 2.80 and a beta of 0.61. The business’s 50 day moving average is $838.47 and its two-hundred day moving average is $775.47.

Casey’s General Stores (NASDAQ:CASY) last posted its 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 company had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.33 billion. During the same quarter last year, the firm earned $2.63 earnings per share. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. Analysts expect that Casey’s General Stores, Inc. will post 21.11 EPS for the current fiscal year.

Casey’s General Stores Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Saturday, August 1st were given a $0.65 dividend. 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 dividend yield of 0.3%. The ex-dividend date was Friday, July 31st. Casey’s General Stores’s dividend payout ratio (DPR) is currently 13.57%.

Insider Buying and Selling

In other Casey’s General Stores news, Director Allison M. Wing sold 530 shares of the business’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $837.58, for a total transaction of $443,917.40. Following the completion of the sale, the director directly owned 3,042 shares in the company, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Katrina S. Lindsey sold 2,000 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $800.00, for a total transaction of $1,600,000.00. Following the sale, the insider directly owned 6,668 shares in the company, valued at $5,334,400. This trade represents a 23.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 30,243 shares of company stock worth $24,421,877 over the last ninety days. Insiders own 0.67% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CASY shares. Wells Fargo & Company upped their price target on shares of Casey’s General Stores from $910.00 to $960.00 and gave the company an “overweight” rating in a report on Thursday, June 11th. BMO Capital Markets upgraded shares of Casey’s General Stores from a “market perform” rating to an “outperform” rating and set a $950.00 price objective for the company in a report on Monday, June 29th. Zacks Research cut shares of Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 5th. William Blair assumed coverage on shares of Casey’s General Stores in a research note on Wednesday, May 20th. They set an “outperform” rating for the company. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $913.00 price objective on shares of Casey’s General Stores in a research note on Wednesday, July 29th. Fourteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Casey’s General Stores currently has a consensus rating of “Moderate Buy” and an average price target of $944.20.

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.