Moody National Bank Trust Division Makes New Investment in Casey’s General Stores, Inc. $CASY

Moody National Bank Trust Division acquired a new position in Casey’s General Stores, Inc. (NASDAQ:CASY) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,013 shares of the company’s stock, valued at approximately $805,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC grew its position 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 valued at $420,416,000 after acquiring an additional 52,250 shares in the last quarter. Burns J W & Co. Inc. NY lifted its position in shares of Casey’s General Stores by 103.5% during the first quarter. Burns J W & Co. Inc. NY now owns 2,448 shares of the company’s stock worth $1,782,000 after purchasing an additional 1,245 shares in the last quarter. North Dakota State Investment Board acquired a new position in shares of Casey’s General Stores during the fourth quarter worth $720,000. Jackson Creek Investment Advisors LLC purchased a new position in shares of Casey’s General Stores in the fourth quarter valued at $1,338,000. Finally, Teachers Retirement System of The State of Kentucky boosted its stake in shares of Casey’s General Stores by 52.0% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 17,079 shares of the company’s stock valued at $12,431,000 after purchasing an additional 5,846 shares during the period. 85.63% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Casey’s General Stores

In related news, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the business’s stock in a transaction dated Wednesday, July 8th. The stock was 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 $24,874,074.32. The trade was a 16.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Allison M. Wing sold 530 shares of the company’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $837.58, for a total value of $443,917.40. Following the sale, the director owned 3,042 shares in the company, valued at $2,547,918.36. The trade was a 14.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 30,243 shares of company stock valued at $24,421,877. Corporate insiders own 0.67% of the company’s stock.

Casey’s General Stores Stock Up 0.3%

Shares of NASDAQ:CASY opened at $852.86 on Thursday. The firm has a market cap of $31.56 billion, a PE ratio of 44.51, a price-to-earnings-growth ratio of 2.55 and a beta of 0.61. The company has a fifty day simple moving average of $826.68 and a 200 day simple moving average of $758.39. 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 12-month low of $490.00 and a 12-month high of $927.85.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, beating analysts’ consensus estimates 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 firm’s revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.63 EPS. On average, equities research 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 business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Saturday, August 1st will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is 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 annualized dividend and a dividend yield of 0.3%. Casey’s General Stores’s dividend payout ratio is 13.57%.

Analysts Set New Price Targets

CASY has been the topic of several analyst reports. Stephens set a $975.00 price target on shares of Casey’s General Stores and gave the stock an “overweight” rating in a research note on Friday, June 12th. BNP Paribas Exane decreased their price objective on shares of Casey’s General Stores from $1,032.00 to $995.00 and set an “outperform” rating for the company in a research report on Thursday, June 25th. Northcoast Research upgraded Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $950.00 target price for the company in a research note on Monday, July 13th. BMO Capital Markets raised Casey’s General Stores from a “market perform” rating to an “outperform” rating and set a $950.00 target price on the stock in a research report on Monday, June 29th. Finally, Morgan Stanley upgraded Casey’s General Stores to a “buy” rating in a research note on Wednesday, June 10th. Fourteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $944.20.

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.