Casey’s General Stores, Inc. $CASY Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lifted its holdings in Casey’s General Stores, Inc. (NASDAQ:CASY) by 148.3% during the first quarter, HoldingsChannel reports. The institutional investor owned 13,882 shares of the company’s stock after purchasing an additional 8,292 shares during the period. Pictet Asset Management Holding SA’s holdings in Casey’s General Stores were worth $10,096,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew 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 buying an additional 2,657,687 shares during the last quarter. Franklin Resources Inc. raised its stake 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 worth $590,671,000 after acquiring an additional 310,470 shares during the period. Geode Capital Management LLC lifted its holdings in Casey’s General Stores by 7.4% in the fourth quarter. Geode Capital Management LLC now owns 760,438 shares of the company’s stock worth $420,416,000 after acquiring an additional 52,250 shares during the last quarter. Invesco Ltd. boosted its stake in Casey’s General Stores by 12.6% in the fourth quarter. Invesco Ltd. now owns 572,152 shares of the company’s stock valued at $316,234,000 after acquiring an additional 64,154 shares during the period. Finally, Norges Bank acquired a new position in Casey’s General Stores in the fourth quarter valued at approximately $265,163,000. 85.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Stephens set a $975.00 target price on Casey’s General Stores and gave the company an “overweight” rating in a report on Friday, June 12th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $1,000.00 price objective on shares of Casey’s General Stores in a research report on Monday, June 15th. Evercore restated an “outperform” rating and set a $990.00 price objective on shares of Casey’s General Stores in a research note on Friday, June 12th. Wells Fargo & Company increased their target price on Casey’s General Stores from $910.00 to $960.00 and gave the stock an “overweight” rating in a research report on Thursday, June 11th. Finally, 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. Thirteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $939.29.

Casey’s General Stores Price Performance

Shares of NASDAQ:CASY opened at $797.42 on Friday. The firm’s 50 day moving average is $820.92 and its two-hundred day moving average is $712.84. Casey’s General Stores, Inc. has a 52 week low of $490.00 and a 52 week high of $927.85. The firm has a market capitalization of $29.51 billion, a P/E ratio of 41.62, a PEG ratio of 2.40 and a beta of 0.62. 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 (NASDAQ:CASY) last issued its quarterly earnings data 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. The business had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.33 billion. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.The business’s revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.63 earnings per share. Analysts anticipate that Casey’s General Stores, Inc. will post 21.05 earnings per share for the current year.

Casey’s General Stores Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Saturday, August 1st will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Friday, July 31st. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.57. Casey’s General Stores’s dividend payout ratio (DPR) is presently 11.90%.

Insider Buying and Selling at Casey’s General Stores

In other Casey’s General Stores news, Director Mike Spanos purchased 256 shares of Casey’s General Stores stock in a transaction on Friday, June 26th. The stock was bought at an average price of $778.81 per share, for a total transaction of $199,375.36. Following the transaction, the director owned 4,758 shares of the company’s stock, valued at $3,705,577.98. The trade was a 5.69% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 value of $1,600,000.00. Following the completion of the transaction, the insider directly owned 6,668 shares of the company’s stock, valued at approximately $5,334,400. The trade was a 23.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.54% of the stock is owned by company insiders.

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.