Union Heritage Capital LLC Makes New Investment in Casey’s General Stores, Inc. $CASY

Union Heritage Capital LLC bought a new stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,930 shares of the company’s stock, valued at approximately $2,860,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in CASY. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Casey’s General Stores by 179,938.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,659,164 shares of the company’s stock valued at $1,469,747,000 after acquiring an additional 2,657,687 shares during the last quarter. Norges Bank acquired a new stake in Casey’s General Stores in the 4th quarter worth approximately $265,163,000. Franklin Resources Inc. lifted its holdings in Casey’s General Stores by 40.9% in the 4th quarter. Franklin Resources Inc. now owns 1,068,682 shares of the company’s stock worth $590,671,000 after purchasing an additional 310,470 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Casey’s General Stores by 175.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 471,536 shares of the company’s stock worth $260,622,000 after purchasing an additional 300,249 shares during the period. Finally, Corient Private Wealth LLC boosted its position in Casey’s General Stores by 115.9% during the fourth quarter. Corient Private Wealth LLC now owns 423,666 shares of the company’s stock worth $234,164,000 after purchasing an additional 227,403 shares during the period. Institutional investors and hedge funds own 85.63% of the company’s stock.

Insider Activity at Casey’s General Stores

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 transaction of $4,777,512.00. Following the sale, the chief financial officer directly owned 29,677 shares in the company, valued at approximately $24,874,074.32. The trade was a 16.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Chad Michael Frazell sold 3,013 shares of the company’s 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 completion of 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 30,243 shares of company stock worth $24,421,877 in the last three months. Company insiders own 0.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CASY. Capital One Financial began coverage on shares of Casey’s General Stores in a research report on Monday, June 22nd. They issued an “equal weight” rating and a $896.00 price target on the stock. Weiss Ratings downgraded shares of Casey’s General Stores from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, July 21st. Morgan Stanley upgraded shares of Casey’s General Stores to a “buy” rating in a research note on Wednesday, June 10th. Wall Street Zen upgraded shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Finally, Stephens set a $975.00 target price on shares of Casey’s General Stores and gave the stock an “overweight” rating in a research 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 target price of $944.20.

Casey’s General Stores Stock Up 0.0%

Shares of CASY opened at $867.50 on Friday. 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 company has a 50-day simple moving average of $822.86 and a 200-day simple moving average of $751.53. Casey’s General Stores, Inc. has a 52 week low of $490.00 and a 52 week high of $927.85. The firm has a market capitalization of $32.11 billion, a P/E ratio of 45.28, a P/E/G ratio of 2.60 and a beta of 0.62.

Casey’s General Stores (NASDAQ:CASY) last released its 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. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.The business had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.33 billion. During the same period last year, the business earned $2.63 earnings per share. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. On average, equities research analysts expect that Casey’s General Stores, Inc. will post 21.14 earnings per share for the current year.

Casey’s General Stores Increases Dividend

The company also recently disclosed 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. This represents a $2.60 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, July 31st. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.57. Casey’s General Stores’s payout ratio is 11.90%.

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.