Casey’s General Stores, Inc. $CASY Shares Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA boosted its stake in Casey’s General Stores, Inc. (NASDAQ:CASY) by 148.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,882 shares of the company’s stock after acquiring an additional 8,292 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Casey’s General Stores were worth $10,096,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Foster Dykema Cabot & Partners LLC acquired a new position in shares of Casey’s General Stores during the third quarter worth $25,000. True Wealth Design LLC grew its holdings in Casey’s General Stores by 350.0% during the 4th quarter. True Wealth Design LLC now owns 54 shares of the company’s stock valued at $30,000 after purchasing an additional 42 shares in the last quarter. Central Pacific Bank Trust Division grew its holdings in Casey’s General Stores by 52.8% during the 4th quarter. Central Pacific Bank Trust Division now owns 55 shares of the company’s stock valued at $30,000 after purchasing an additional 19 shares in the last quarter. Vermillion & White Wealth Management Group LLC purchased a new stake in Casey’s General Stores during the 3rd quarter worth $35,000. Finally, ORG Partners LLC increased its stake in Casey’s General Stores by 47.6% during the 4th quarter. ORG Partners LLC now owns 62 shares of the company’s stock worth $34,000 after buying an additional 20 shares during the period. Institutional investors and hedge funds own 85.63% of the company’s stock.

Casey’s General Stores Stock Performance

CASY opened at $797.42 on Friday. Casey’s General Stores, Inc. has a 12-month low of $490.00 and a 12-month high of $927.85. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.60. The stock has a market capitalization of $29.51 billion, a PE ratio of 41.62, a P/E/G ratio of 2.40 and a beta of 0.62. The firm’s fifty day moving average price is $820.92 and its 200 day moving average price is $712.84.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, topping the consensus estimate of $3.31 by $1.06. The company had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.33 billion. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period last year, the business earned $2.63 EPS. As a group, research analysts expect that Casey’s General Stores, Inc. will post 21.05 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 given a dividend of $0.65 per share. The ex-dividend date of this dividend is 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 dividend yield of 0.3%. Casey’s General Stores’s dividend payout ratio is 11.90%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CASY. Jefferies Financial Group upped their price objective on shares of Casey’s General Stores from $700.00 to $780.00 and gave the company a “buy” rating in a research report on Tuesday, March 10th. Wall Street Zen raised Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Wolfe Research reiterated an “outperform” rating and issued a $1,069.00 price target on shares of Casey’s General Stores in a research note on Thursday, June 11th. BNP Paribas Exane reduced their price target on Casey’s General Stores from $1,032.00 to $995.00 and set an “outperform” rating for the company in a report on Thursday, June 25th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Casey’s General Stores in a research note on Wednesday, June 24th. Thirteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $939.29.

Insider Buying and Selling

In other news, Director Mike Spanos acquired 256 shares of the business’s stock in a transaction on Friday, June 26th. The shares were purchased at an average price of $778.81 per share, for a total transaction of $199,375.36. Following the completion of the purchase, the director directly owned 4,758 shares of the company’s stock, valued at $3,705,577.98. This represents a 5.69% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Chad Michael Frazell sold 3,013 shares of the company’s stock in a transaction that occurred 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 sale, the insider owned 9,823 shares in the company, valued at $7,735,514.27. The trade was a 23.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.54% of the company’s stock.

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.