Hsbc Holdings PLC Purchases 5,417 Shares of Casey’s General Stores, Inc. $CASY

Hsbc Holdings PLC grew its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 147.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,101 shares of the company’s stock after purchasing an additional 5,417 shares during the period. Hsbc Holdings PLC’s holdings in Casey’s General Stores were worth $6,613,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Whipplewood Advisors LLC bought a new stake in Casey’s General Stores during the first quarter valued at $33,000. ORG Partners LLC increased its stake in Casey’s General Stores by 47.6% in the 4th quarter. ORG Partners LLC now owns 62 shares of the company’s stock worth $34,000 after acquiring an additional 20 shares during the last quarter. Larson Financial Group LLC increased its stake in Casey’s General Stores by 252.4% in the 4th quarter. Larson Financial Group LLC now owns 74 shares of the company’s stock worth $41,000 after acquiring an additional 53 shares during the last quarter. Elyxium Wealth LLC purchased a new stake in shares of Casey’s General Stores in the 4th quarter valued at about $43,000. Finally, Osterweis Capital Management Inc. purchased a new stake in shares of Casey’s General Stores in the 2nd quarter valued at about $45,000. Institutional investors own 85.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CASY shares. KeyCorp boosted their price objective on Casey’s General Stores from $950.00 to $970.00 and gave the stock an “overweight” rating in a report on Thursday, June 11th. Royal Bank Of Canada raised their target price on shares of Casey’s General Stores from $794.00 to $850.00 and gave the company a “sector perform” rating in a research note on Thursday, June 25th. Capital One Financial started coverage on shares of Casey’s General Stores in a research report on Monday, June 22nd. They set an “equal weight” rating and a $896.00 target price for the company. BMO Capital Markets raised shares of Casey’s General Stores from a “market perform” rating to an “outperform” rating and set a $950.00 price target for the company in a research note on Monday, June 29th. Finally, UBS Group increased their price target on shares of Casey’s General Stores from $805.00 to $945.00 and gave the stock a “neutral” rating in a report on Thursday, June 11th. Fourteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Casey’s General Stores currently has a consensus rating of “Moderate Buy” and an average target price of $940.00.

Insider Buying and Selling

In other Casey’s General Stores news, CEO Darren M. Rebelez sold 19,000 shares of the business’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $801.46, for a total value of $15,227,740.00. Following the completion of the sale, the chief executive officer directly owned 89,174 shares of the company’s stock, valued at $71,469,394.04. The trade was a 17.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the company’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $838.16, for a total transaction of $4,777,512.00. Following the sale, the chief financial officer owned 29,677 shares of the company’s stock, valued at approximately $24,874,074.32. The trade was a 16.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 30,243 shares of company stock worth $24,421,877 in the last ninety days. 0.54% of the stock is currently owned by insiders.

Casey’s General Stores Stock 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 P/E/G ratio of 2.57 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, Inc. has a 1-year low of $490.00 and a 1-year high of $927.85. The stock’s 50-day moving average is $821.49 and its 200 day moving average is $741.49.

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, 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 business had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.33 billion. During the same quarter in the prior year, the firm earned $2.63 earnings per share. Casey’s General Stores’s revenue for the quarter was up 14.5% on a year-over-year basis. On average, sell-side analysts anticipate that Casey’s General Stores, Inc. will post 21.14 EPS for the current fiscal year.

Casey’s General Stores Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Saturday, August 1st will be paid 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 dividend on an annualized basis and a dividend yield of 0.3%. Casey’s General Stores’s dividend payout ratio is currently 11.90%.

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.