Commerce Bank Purchases Shares of 14,448 Casey’s General Stores, Inc. $CASY

Commerce Bank acquired a new stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) during the second quarter, Holdings Channel reports. The fund acquired 14,448 shares of the company’s stock, valued at approximately $11,483,000.

Several other large investors have also recently modified their holdings of the stock. Kathmere Capital Management LLC lifted its stake in shares of Casey’s General Stores by 3.5% in the 1st quarter. Kathmere Capital Management LLC now owns 387 shares of the company’s stock valued at $282,000 after acquiring an additional 13 shares during the last quarter. Pinnacle Bancorp Inc. grew its position in Casey’s General Stores by 4.8% during the 1st quarter. Pinnacle Bancorp Inc. now owns 303 shares of the company’s stock worth $221,000 after acquiring an additional 14 shares during the last quarter. Lincoln Capital LLC increased its stake in Casey’s General Stores by 4.0% in the 2nd quarter. Lincoln Capital LLC now owns 366 shares of the company’s stock worth $291,000 after purchasing an additional 14 shares during the period. Menard Financial Group LLC increased its stake in Casey’s General Stores by 1.2% in the 4th quarter. Menard Financial Group LLC now owns 1,267 shares of the company’s stock worth $700,000 after purchasing an additional 15 shares during the period. Finally, Cibc World Market Inc. increased its stake in Casey’s General Stores by 0.3% in the 4th quarter. Cibc World Market Inc. now owns 5,136 shares of the company’s stock worth $2,839,000 after purchasing an additional 16 shares during the period. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Insider Buying and Selling

In other Casey’s General Stores news, CEO Darren M. Rebelez sold 19,000 shares of the company’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 transaction, the chief executive officer directly owned 89,174 shares in the company, valued at approximately $71,469,394.04. This represents a 17.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Katrina S. Lindsey sold 2,000 shares of the company’s 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 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 SEC filing for this sale provides additional information. Insiders have sold a total of 30,243 shares of company stock valued at $24,421,877 over the last three months. Insiders own 0.67% of the company’s stock.

Wall Street Analyst Weigh In

CASY has been the subject of a number of analyst reports. Stephens set a $975.00 price objective on Casey’s General Stores and gave the company an “overweight” rating in a research note on Friday, June 12th. Zacks Research downgraded shares of Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. 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. Northcoast Research raised shares of Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $950.00 price target for the company in a research report on Monday, July 13th. Finally, Wolfe Research reissued an “outperform” rating and set a $1,069.00 price target on shares of Casey’s General Stores in a research report on Thursday, June 11th. Fourteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Casey’s General Stores currently has an average rating of “Moderate Buy” and an average target price of $944.20.

Casey’s General Stores Stock Performance

CASY opened at $835.74 on Monday. The business has a 50 day simple moving average of $837.28 and a two-hundred day simple moving average of $776.94. The firm has a market capitalization of $30.93 billion, a price-to-earnings ratio of 43.62, a PEG ratio of 2.86 and a beta of 0.61. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.60. Casey’s General Stores, Inc. has a one year low of $490.00 and a one year high of $927.85.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.33 billion. During the same period last year, the company earned $2.63 EPS. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. Analysts predict that Casey’s General Stores, Inc. will post 21.11 EPS for the current year.

Casey’s General Stores Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Saturday, August 1st were paid a $0.65 dividend. The ex-dividend date of this dividend was Friday, July 31st. This is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.57. This represents a $2.60 dividend on an annualized basis and a yield of 0.3%. Casey’s General Stores’s payout ratio is 13.57%.

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.