Sanctuary Advisors LLC Boosts Stake in Casey’s General Stores, Inc. $CASY

Sanctuary Advisors LLC raised its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 5.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,026 shares of the company’s stock after acquiring an additional 1,217 shares during the quarter. Sanctuary Advisors LLC’s holdings in Casey’s General Stores were worth $16,032,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its stake 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 worth $1,469,747,000 after purchasing an additional 2,657,687 shares during the last quarter. Norges Bank purchased a new position in Casey’s General Stores in the fourth quarter valued at about $265,163,000. Franklin Resources Inc. grew its stake in 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 during the last quarter. Goldman Sachs Group Inc. raised its holdings in Casey’s General Stores by 175.3% in the fourth 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 in the last quarter. Finally, Corient Private Wealth LLC raised its holdings in Casey’s General Stores by 115.9% in the fourth quarter. Corient Private Wealth LLC now owns 423,666 shares of the company’s stock worth $234,164,000 after purchasing an additional 227,403 shares in the last quarter. 85.63% of the stock is owned by institutional investors.

Casey’s General Stores Price Performance

Shares of NASDAQ CASY opened at $827.04 on Friday. Casey’s General Stores, Inc. has a fifty-two week low of $490.00 and a fifty-two week high of $927.85. The company has a market cap of $30.61 billion, a PE ratio of 43.16, a P/E/G ratio of 2.42 and a beta of 0.62. 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 has a 50-day simple moving average of $822.56 and a two-hundred day simple moving average of $730.75.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.31 by $1.06. The firm had revenue of $4.57 billion for 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 revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.63 earnings per share. As a group, equities analysts expect that Casey’s General Stores, Inc. will post 21.14 EPS for the current fiscal year.

Casey’s General Stores Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Saturday, August 1st will be issued 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 dividend payout ratio is presently 11.90%.

Analyst Upgrades and Downgrades

CASY has been the topic of a number of recent analyst reports. Evercore restated an “outperform” rating and issued a $990.00 price target on shares of Casey’s General Stores in a report on Friday, June 12th. The Goldman Sachs Group increased their target price on shares of Casey’s General Stores from $695.00 to $795.00 and gave the company a “neutral” rating in a research report on Thursday, June 25th. UBS Group raised their target price on shares of 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. Wolfe Research reaffirmed an “outperform” rating and issued a $1,069.00 price target on shares of Casey’s General Stores in a report on Thursday, June 11th. Finally, Weiss Ratings raised Casey’s General Stores from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday, July 8th. Fourteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $940.00.

Insider Transactions at Casey’s General Stores

In related news, insider Katrina S. Lindsey sold 2,000 shares of the company’s stock in a transaction that occurred 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 sale, the insider owned 6,668 shares in the company, valued at $5,334,400. This represents a 23.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the company’s stock in a transaction on 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 completion of the sale, the chief financial officer directly owned 29,677 shares in the company, valued at $24,874,074.32. This trade represents a 16.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 30,243 shares of company stock worth $24,421,877 over the last 90 days. Insiders own 0.54% of the company’s stock.

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.