Danske Bank A S Takes $17.48 Million Position in Casey’s General Stores, Inc. $CASY

Danske Bank A S purchased a new position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 22,000 shares of the company’s stock, valued at approximately $17,485,000.

Several other institutional investors and hedge funds have also made changes to their positions in CASY. BlackRock Inc. acquired a new stake in Casey’s General Stores in the 2nd quarter valued at about $2,759,895,000. Northwestern Mutual Wealth Management Co. raised its position in Casey’s General Stores by 179,938.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,659,164 shares of the company’s stock worth $1,469,747,000 after acquiring an additional 2,657,687 shares during the last quarter. Norges Bank acquired a new position in Casey’s General Stores during the fourth quarter worth about $265,163,000. Bank of New York Mellon Corp purchased a new stake in shares of Casey’s General Stores in the second quarter valued at about $281,011,000. Finally, Franklin Resources Inc. lifted its holdings in shares of Casey’s General Stores by 40.9% in the fourth 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 in the last quarter. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CASY shares. Stephens set a $975.00 price target on shares of Casey’s General Stores and gave the company an “overweight” rating in a research report on Friday, June 12th. KeyCorp lifted their price objective on Casey’s General Stores from $950.00 to $970.00 and gave the stock an “overweight” rating in a research report on Thursday, June 11th. Weiss Ratings lowered Casey’s General Stores from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, July 21st. Evercore reiterated an “outperform” rating and set a $990.00 target price on shares of Casey’s General Stores in a report on Friday, June 12th. Finally, Zacks Research downgraded Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 5th. 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $944.20.

Insider Activity

In other Casey’s General Stores news, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of Casey’s General Stores stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $838.16, for a total value of $4,777,512.00. Following the completion of the sale, the chief financial officer directly 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Katrina S. Lindsey sold 2,000 shares of the business’s stock in a transaction on Monday, June 29th. The shares were 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 owned 6,668 shares of the company’s stock, valued at $5,334,400. This trade represents a 23.07% 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 valued at $24,421,877 in the last 90 days. Insiders own 0.67% of the company’s stock.

Casey’s General Stores Price Performance

NASDAQ:CASY opened at $828.38 on Friday. Casey’s General Stores, Inc. has a 12-month low of $490.00 and a 12-month high of $927.85. The firm has a market cap of $30.66 billion, a price-to-earnings ratio of 43.23, a price-to-earnings-growth ratio of 2.80 and a beta of 0.61. The company’s 50-day moving average is $838.47 and its two-hundred day moving average is $775.47. 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 results on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 4.07% and a return on equity of 18.73%. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.63 earnings per share. Research analysts expect that Casey’s General Stores, Inc. will post 21.11 EPS for the current year.

Casey’s General Stores Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Saturday, August 1st were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.3%. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.57. The ex-dividend date was Friday, July 31st. Casey’s General Stores’s dividend payout ratio (DPR) is 13.57%.

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.