707 Shares in Casey’s General Stores, Inc. (NASDAQ:CASY) Acquired by Argent Trust Co

Argent Trust Co acquired a new stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 707 shares of the company’s stock, valued at approximately $270,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Jump Financial LLC acquired a new position in shares of Casey’s General Stores in the fourth quarter worth $302,000. TrinityPoint Wealth LLC lifted its holdings in shares of Casey’s General Stores by 2.3% during the 4th quarter. TrinityPoint Wealth LLC now owns 2,807 shares of the company’s stock valued at $771,000 after buying an additional 63 shares during the last quarter. Norges Bank bought a new stake in shares of Casey’s General Stores in the 4th quarter valued at approximately $115,799,000. Coldstream Capital Management Inc. acquired a new position in Casey’s General Stores in the fourth quarter worth approximately $222,000. Finally, D.A. Davidson & CO. raised its position in Casey’s General Stores by 3.6% during the fourth quarter. D.A. Davidson & CO. now owns 1,733 shares of the company’s stock valued at $476,000 after acquiring an additional 61 shares in the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

Casey’s General Stores Stock Performance

NASDAQ CASY opened at $368.00 on Friday. The company’s fifty day moving average is $374.46 and its two-hundred day moving average is $346.94. The firm has a market capitalization of $13.66 billion, a price-to-earnings ratio of 27.40, a P/E/G ratio of 2.58 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.84 and a quick ratio of 0.44. Casey’s General Stores, Inc. has a 52-week low of $260.13 and a 52-week high of $401.07.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Wednesday, September 4th. The company reported $4.83 earnings per share for the quarter, topping the consensus estimate of $4.54 by $0.29. The company had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.15 billion. Casey’s General Stores had a return on equity of 17.07% and a net margin of 3.40%. Casey’s General Stores’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter last year, the firm earned $4.52 EPS. Equities research analysts forecast that Casey’s General Stores, Inc. will post 14.15 EPS for the current year.

Casey’s General Stores Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Friday, November 1st. Casey’s General Stores’s payout ratio is 14.89%.

Analysts Set New Price Targets

CASY has been the subject of several recent research reports. Benchmark reissued a “buy” rating and issued a $410.00 target price on shares of Casey’s General Stores in a research report on Tuesday, September 10th. Northcoast Research upgraded Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $410.00 target price on the stock in a report on Thursday, July 11th. StockNews.com downgraded Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 3rd. Royal Bank of Canada raised their price objective on Casey’s General Stores from $393.00 to $403.00 and gave the company a “sector perform” rating in a research note on Thursday, September 5th. Finally, JPMorgan Chase & Co. cut Casey’s General Stores from a “neutral” rating to an “underweight” rating and upped their target price for the stock from $300.00 to $337.00 in a research report on Thursday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $404.90.

Insider Activity

In related news, CEO Darren M. Rebelez sold 13,500 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $374.54, for a total value of $5,056,290.00. Following the completion of the transaction, the chief executive officer now owns 73,838 shares of the company’s stock, valued at $27,655,284.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Darren M. Rebelez sold 13,500 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $374.54, for a total value of $5,056,290.00. Following the sale, the chief executive officer now owns 73,838 shares of the company’s stock, valued at approximately $27,655,284.52. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mike Spanos acquired 267 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were bought at an average price of $376.18 per share, with a total value of $100,440.06. Following the completion of the purchase, the director now directly owns 2,594 shares of the company’s stock, valued at $975,810.92. The disclosure for this purchase can be found here. 0.47% of the stock is owned by company insiders.

About Casey’s General Stores

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. Its stores offer pizza, donuts, breakfast items, and sandwiches; and tobacco and nicotine products. The company's stores provide soft drinks, energy, water, sports drinks, juices, coffee, and tea and dairy products; beer, wine, and spirits; snacks, candy, packaged bakery, and other food items; ice, ice cream, meals, and appetizers; health and beauty aids, automotive products, electronic accessories, housewares, and pet supplies; and ATM, lotto/lottery, and prepaid cards.