Danske Bank A S Invests $17.48 Million in Casey’s General Stores, Inc. $CASY

Danske Bank A S bought a new stake in Casey’s General Stores, Inc. (NASDAQ:CASY) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 22,000 shares of the company’s stock, valued at approximately $17,485,000. Danske Bank A S owned about 0.06% of Casey’s General Stores at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Kathmere Capital Management LLC lifted its position in Casey’s General Stores by 3.5% in the first quarter. Kathmere Capital Management LLC now owns 387 shares of the company’s stock valued at $282,000 after acquiring an additional 13 shares during the last quarter. Pinnacle Bancorp Inc. increased its position in Casey’s General Stores by 4.8% in the 1st quarter. Pinnacle Bancorp Inc. now owns 303 shares of the company’s stock valued at $221,000 after acquiring an additional 14 shares during the period. Lincoln Capital LLC raised its stake in Casey’s General Stores by 4.0% during the 2nd quarter. Lincoln Capital LLC now owns 366 shares of the company’s stock valued at $291,000 after acquiring an additional 14 shares during the last quarter. Menard Financial Group LLC raised its stake in Casey’s General Stores by 1.2% during the 4th quarter. Menard Financial Group LLC now owns 1,267 shares of the company’s stock valued at $700,000 after acquiring an additional 15 shares during the last quarter. Finally, Cibc World Market Inc. lifted its position in Casey’s General Stores by 0.3% during the 4th quarter. Cibc World Market Inc. now owns 5,136 shares of the company’s stock worth $2,839,000 after acquiring an additional 16 shares during the period. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Insider Transactions at Casey’s General Stores

In other news, Director Allison M. Wing sold 530 shares of the company’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $837.58, for a total transaction of $443,917.40. Following the transaction, the director directly owned 3,042 shares of the company’s stock, valued at $2,547,918.36. This represents a 14.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Katrina S. Lindsey sold 2,000 shares of the 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 transaction, the insider directly owned 6,668 shares of the company’s stock, valued at approximately $5,334,400. This trade represents a 23.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 30,243 shares of company stock valued at $24,421,877 in the last three months. Insiders own 0.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CASY. Wall Street Zen raised Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. William Blair initiated coverage on Casey’s General Stores in a report on Wednesday, May 20th. They set an “outperform” rating for the company. Morgan Stanley upgraded shares of Casey’s General Stores to a “buy” rating in a research report on Wednesday, June 10th. UBS Group boosted their price objective on shares of Casey’s General Stores from $805.00 to $945.00 and gave the company a “neutral” rating in a research note on Thursday, June 11th. Finally, Northcoast Research upgraded shares of Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $950.00 price objective for the company in a research report on Monday, July 13th. Fourteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $944.20.

Casey’s General Stores Stock Performance

NASDAQ CASY opened at $828.38 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average is $838.47 and its two-hundred day moving average is $775.47. Casey’s General Stores, Inc. has a 12-month low of $490.00 and a 12-month high of $927.85. The stock has a market capitalization of $30.66 billion, a price-to-earnings ratio of 43.23, a PEG ratio of 2.80 and a beta of 0.61.

Casey’s General Stores (NASDAQ:CASY) last issued its earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.31 by $1.06. The business had revenue of $4.57 billion during 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 company’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.63 EPS. Research analysts expect that Casey’s General Stores, Inc. will post 21.11 EPS for the current year.

Casey’s General Stores Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Saturday, August 1st were given a $0.65 dividend. The ex-dividend date was Friday, July 31st. This is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.57. This represents a $2.60 annualized dividend and a yield of 0.3%. Casey’s General Stores’s dividend payout ratio (DPR) 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.