Casey’s General Stores, Inc. $CASY Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. increased its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 2.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 252,374 shares of the company’s stock after buying an additional 5,294 shares during the period. Principal Financial Group Inc.’s holdings in Casey’s General Stores were worth $183,693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in shares of Casey’s General Stores by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 760,438 shares of the company’s stock worth $420,416,000 after purchasing an additional 52,250 shares during the last quarter. North Dakota State Investment Board acquired a new stake in Casey’s General Stores in the 4th quarter worth about $720,000. Burns J W & Co. Inc. NY increased its stake in Casey’s General Stores by 103.5% during the 1st quarter. Burns J W & Co. Inc. NY now owns 2,448 shares of the company’s stock worth $1,782,000 after buying an additional 1,245 shares in the last quarter. Jackson Creek Investment Advisors LLC purchased a new stake in Casey’s General Stores during the 4th quarter worth approximately $1,338,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Casey’s General Stores by 2.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 140,491 shares of the company’s stock valued at $77,651,000 after acquiring an additional 3,553 shares during the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

Insider Buying and Selling at Casey’s General Stores

In related news, insider Katrina S. Lindsey sold 2,000 shares of the firm’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $800.00, for a total transaction of $1,600,000.00. Following the completion of the sale, the insider directly owned 6,668 shares in the company, valued at approximately $5,334,400. This trade represents a 23.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Allison M. Wing sold 530 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $837.58, for a total transaction of $443,917.40. Following the sale, the director owned 3,042 shares of the company’s stock, valued at approximately $2,547,918.36. The trade was a 14.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 30,243 shares of company stock worth $24,421,877. Corporate insiders own 0.54% of the company’s stock.

Casey’s General Stores Price Performance

NASDAQ:CASY opened at $847.19 on Wednesday. Casey’s General Stores, Inc. has a one year low of $490.00 and a one year high of $927.85. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 1.01. The stock has a market cap of $31.35 billion, a PE ratio of 44.22, a P/E/G ratio of 2.58 and a beta of 0.62. The stock has a 50 day moving average price of $824.04 and a 200 day moving average price of $727.24.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, topping 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 return on equity of 18.73% and a net margin of 4.07%.The firm’s revenue was up 14.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.63 earnings per share. Equities research analysts expect 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 issued a dividend of $0.65 per share. The ex-dividend date is Friday, July 31st. This represents a $2.60 annualized dividend and a dividend yield of 0.3%. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.57. Casey’s General Stores’s payout ratio is presently 11.90%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group raised their target price on Casey’s General Stores from $695.00 to $795.00 and gave the company a “neutral” rating in a research report on Thursday, June 25th. William Blair began coverage on Casey’s General Stores in a research note on Wednesday, May 20th. They issued an “outperform” rating for the company. Wells Fargo & Company raised their price objective on Casey’s General Stores from $910.00 to $960.00 and gave the company an “overweight” rating in a report on Thursday, June 11th. BMO Capital Markets raised shares of 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 note on Monday, June 29th. Finally, Stephens set a $975.00 target price on shares of Casey’s General Stores and gave the stock an “overweight” rating in a report on Friday, June 12th. Fourteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $940.00.

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.