Northwestern Mutual Wealth Management Co. Takes Position in Casey’s General Stores, Inc. $CASY

Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,018 shares of the company’s stock, valued at approximately $809,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC grew its position in shares of Casey’s General Stores by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 760,438 shares of the company’s stock worth $420,416,000 after acquiring an additional 52,250 shares during the last quarter. Burns J W & Co. Inc. NY lifted its position in Casey’s General Stores by 103.5% in the 1st quarter. Burns J W & Co. Inc. NY now owns 2,448 shares of the company’s stock valued at $1,782,000 after purchasing an additional 1,245 shares during the last quarter. North Dakota State Investment Board bought a new stake in Casey’s General Stores in the 4th quarter valued at about $720,000. Jackson Creek Investment Advisors LLC acquired a new position in Casey’s General Stores during the 4th quarter valued at about $1,338,000. Finally, Teachers Retirement System of The State of Kentucky boosted its stake in Casey’s General Stores by 52.0% during the 1st 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. Institutional investors and hedge funds own 85.63% of the company’s stock.

Casey’s General Stores Stock Down 3.4%

Casey’s General Stores stock opened at $824.92 on Wednesday. Casey’s General Stores, Inc. has a 52 week low of $490.00 and a 52 week high of $927.85. The stock has a market cap of $30.53 billion, a price-to-earnings ratio of 43.05, a PEG ratio of 2.92 and a beta of 0.61. The company’s 50-day moving average price is $836.11 and its two-hundred day moving average price is $779.69. 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 earnings per share for the quarter, topping analysts’ consensus estimates of $3.31 by $1.06. The company had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.33 billion. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.63 EPS. On average, analysts expect that Casey’s General Stores, Inc. will post 21.11 EPS for the current fiscal year.

Casey’s General Stores Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Saturday, August 1st were given 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 payout ratio is currently 13.57%.

Insider Activity

In other Casey’s General Stores news, insider Chad Michael Frazell sold 3,013 shares of the stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $787.49, for a total transaction of $2,372,707.37. Following the completion of the transaction, the insider directly owned 9,823 shares of the company’s stock, valued at approximately $7,735,514.27. This trade represents a 23.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of Casey’s General Stores stock in a transaction 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 transaction, the chief financial officer owned 29,677 shares in the company, valued at approximately $24,874,074.32. This trade represents a 16.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 30,243 shares of company stock worth $24,421,877 in the last quarter. 0.67% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on CASY. Wall Street Zen upgraded shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. William Blair assumed coverage on Casey’s General Stores in a research report on Wednesday, May 20th. They set an “outperform” rating for the company. Stephens set a $975.00 price objective on Casey’s General Stores and gave the stock an “overweight” rating in a report on Friday, June 12th. Capital One Financial began coverage on Casey’s General Stores in a research report on Monday, June 22nd. They issued an “equal weight” rating and a $896.00 target price on the stock. Finally, JPMorgan Chase & Co. lifted their target price on Casey’s General Stores from $719.00 to $975.00 and gave the company a “neutral” rating in a research note on Friday, June 12th. Fourteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.