Hsbc Holdings PLC Acquires New Stake in Casey’s General Stores, Inc. $CASY

Hsbc Holdings PLC bought a new position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,684 shares of the company’s stock, valued at approximately $2,051,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Foster Dykema Cabot & Partners LLC bought a new stake in shares of Casey’s General Stores in the 3rd quarter valued at about $25,000. True Wealth Design LLC raised its position in shares of Casey’s General Stores by 350.0% during the fourth quarter. True Wealth Design LLC now owns 54 shares of the company’s stock worth $30,000 after acquiring an additional 42 shares during the last quarter. Central Pacific Bank Trust Division lifted its stake in shares of Casey’s General Stores by 52.8% in the fourth quarter. Central Pacific Bank Trust Division now owns 55 shares of the company’s stock worth $30,000 after acquiring an additional 19 shares during the period. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Casey’s General Stores in the third quarter worth approximately $35,000. Finally, ORG Partners LLC boosted its holdings in Casey’s General Stores by 47.6% in the fourth quarter. ORG Partners LLC now owns 62 shares of the company’s stock valued at $34,000 after acquiring an additional 20 shares during the last quarter. 85.63% of the stock is owned by institutional investors and hedge funds.

Casey’s General Stores Stock Up 0.2%

Shares of NASDAQ CASY opened at $780.24 on Tuesday. The firm has a market cap of $28.87 billion, a PE ratio of 40.72, a P/E/G ratio of 2.34 and a beta of 0.61. Casey’s General Stores, Inc. has a 12-month low of $490.00 and a 12-month high of $927.85. The company’s fifty day simple moving average is $819.20 and its 200 day simple moving average is $706.89. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, beating the consensus estimate of $3.31 by $1.06. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. The firm had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.33 billion. During the same period in the previous year, the firm posted $2.63 earnings per share. The business’s revenue was up 14.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Casey’s General Stores, Inc. will post 21.05 earnings per share for the current fiscal year.

Casey’s General Stores Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Saturday, August 1st will be paid a $0.65 dividend. 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 dividend payout ratio (DPR) is 13.57%.

Insider Activity at Casey’s General Stores

In other news, Director Mike Spanos bought 256 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The stock was acquired at an average cost of $778.81 per share, with a total value of $199,375.36. Following the transaction, the director directly owned 4,758 shares of the company’s stock, valued at approximately $3,705,577.98. This represents a 5.69% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CASY. 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 for the company in a research report on Monday. BNP Paribas Exane reduced their price objective on shares of Casey’s General Stores from $1,032.00 to $995.00 and set an “outperform” rating on the stock in a research note on Thursday, June 25th. Stephens set a $975.00 price objective on shares of Casey’s General Stores and gave the company an “overweight” rating in a research note on Friday, June 12th. UBS Group increased their price objective on shares of Casey’s General Stores from $805.00 to $945.00 and gave the stock a “neutral” rating in a research report on Thursday, June 11th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $1,000.00 target price on shares of Casey’s General Stores in a research note on Monday, June 15th. Thirteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $939.29.

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.