Norges Bank Makes New Investment in Casey’s General Stores, Inc. $CASY

Norges Bank bought a new position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 479,750 shares of the company’s stock, valued at approximately $265,163,000. Norges Bank owned approximately 1.29% of Casey’s General Stores as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Eurizon Capital SGR S.p.A. acquired a new position in shares of Casey’s General Stores during the fourth quarter valued at about $1,111,000. Basepoint Wealth LLC acquired a new stake in Casey’s General Stores in the fourth quarter valued at approximately $172,000. SBI Okasan Asset Management Co.Ltd. acquired a new stake in Casey’s General Stores in the fourth quarter valued at approximately $1,191,000. Moors & Cabot Inc. grew its stake in Casey’s General Stores by 0.7% in the fourth quarter. Moors & Cabot Inc. now owns 10,634 shares of the company’s stock valued at $5,878,000 after acquiring an additional 76 shares during the period. Finally, Intech Investment Management LLC grew its stake in Casey’s General Stores by 57.9% in the fourth quarter. Intech Investment Management LLC now owns 18,800 shares of the company’s stock valued at $10,391,000 after acquiring an additional 6,894 shares during the period. 85.63% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Mike Spanos bought 300 shares of the stock in a transaction on Friday, March 13th. The shares were purchased at an average cost of $665.43 per share, for a total transaction of $199,629.00. Following the completion of the purchase, the director directly owned 4,499 shares in the company, valued at $2,993,769.57. This represents a 7.14% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Katrina S. Lindsey sold 200 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $683.04, for a total value of $136,608.00. Following the completion of the sale, the insider owned 4,039 shares in the company, valued at approximately $2,758,798.56. The trade was a 4.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.54% of the company’s stock.

Casey’s General Stores Stock Up 1.2%

Shares of NASDAQ:CASY opened at $754.21 on Wednesday. The business’s 50 day moving average is $782.11 and its 200 day moving average is $669.99. The stock has a market cap of $27.88 billion, a price-to-earnings ratio of 43.30, a PEG ratio of 2.06 and a beta of 0.61. Casey’s General Stores, Inc. has a 12-month low of $433.16 and a 12-month high of $901.00. The company has a quick ratio of 0.64, a current ratio of 1.04 and a debt-to-equity ratio of 0.61.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Monday, March 9th. The company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $2.94 by $0.55. The business had revenue of $3.92 billion for the quarter, compared to analyst estimates of $4.08 billion. Casey’s General Stores had a return on equity of 17.56% and a net margin of 3.83%.Casey’s General Stores’s quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the company posted $2.33 earnings per share. On average, sell-side analysts forecast that Casey’s General Stores, Inc. will post 18.19 earnings per share for the current fiscal year.

Casey’s General Stores Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Friday, May 1st. Casey’s General Stores’s dividend payout ratio (DPR) is 13.09%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. KeyCorp raised their price objective on Casey’s General Stores from $830.00 to $860.00 and gave the company an “overweight” rating in a research note on Friday, April 24th. Jefferies Financial Group raised their price objective on Casey’s General Stores from $700.00 to $780.00 and gave the company a “buy” rating in a research note on Tuesday, March 10th. William Blair assumed coverage on Casey’s General Stores in a research note on Wednesday, May 20th. They issued an “outperform” rating for the company. JPMorgan Chase & Co. assumed coverage on Casey’s General Stores in a research note on Thursday, March 26th. They issued a “neutral” rating and a $719.00 price objective for the company. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $700.00 price objective on shares of Casey’s General Stores in a research note on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $752.36.

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.