Perigon Wealth Management LLC Takes $537,000 Position in Casey’s General Stores, Inc. $CASY

Perigon Wealth Management LLC acquired a new stake in Casey’s General Stores, Inc. (NASDAQ:CASY) during the second quarter, Holdings Channel reports. The firm acquired 676 shares of the company’s stock, valued at approximately $537,000.

Other large investors have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its holdings in Casey’s General Stores by 179,938.2% in 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 buying an additional 2,657,687 shares during the period. Norges Bank bought a new stake in shares of Casey’s General Stores during the 4th quarter valued at $265,163,000. Bank of New York Mellon Corp bought a new position in Casey’s General Stores in the 2nd quarter worth about $281,011,000. Franklin Resources Inc. grew its holdings in Casey’s General Stores by 40.9% during the 4th quarter. Franklin Resources Inc. now owns 1,068,682 shares of the company’s stock valued at $590,671,000 after buying an additional 310,470 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of 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 buying an additional 300,249 shares in the last quarter. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Analyst Ratings Changes

CASY has been the subject of several analyst reports. Wells Fargo & Company raised 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. Capital One Financial began coverage on shares of Casey’s General Stores in a research note on Monday, June 22nd. They issued an “equal weight” rating and a $896.00 target price on the stock. Weiss Ratings lowered shares of Casey’s General Stores from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, July 21st. Northcoast Research upgraded Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $950.00 price objective on the stock in a research report on Monday, July 13th. Finally, BNP Paribas Exane reduced their price target on shares of Casey’s General Stores from $1,032.00 to $995.00 and set an “outperform” rating on the stock in a research report on Thursday, June 25th. Fourteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $944.20.

Insider Activity

In other news, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the business’s stock in a transaction that occurred on 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 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 position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Chad Michael Frazell sold 3,013 shares of Casey’s General Stores stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $787.49, for a total value of $2,372,707.37. Following the transaction, the insider owned 9,823 shares of the company’s stock, valued at $7,735,514.27. The trade was a 23.47% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 30,243 shares of company stock worth $24,421,877. 0.67% of the stock is currently owned by corporate insiders.

Casey’s General Stores Stock Performance

NASDAQ:CASY opened at $836.15 on Thursday. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. The firm’s fifty day simple moving average is $840.22 and its 200 day simple moving average is $773.90. The stock has a market cap of $30.95 billion, a P/E ratio of 43.64, a price-to-earnings-growth ratio of 2.56 and a beta of 0.61. Casey’s General Stores, Inc. has a twelve month low of $490.00 and a twelve month high of $927.85.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates of $3.31 by $1.06. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. The firm had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.33 billion. During the same quarter in the previous year, the firm posted $2.63 EPS. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, research analysts predict that Casey’s General Stores, Inc. will post 21.14 EPS for the current year.

Casey’s General Stores Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Saturday, August 1st were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.3%. This is a positive change 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 is currently 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.