Federated Hermes Inc. Grows Position in Casey’s General Stores, Inc. (NASDAQ:CASY)

Federated Hermes Inc. raised its stake in Casey’s General Stores, Inc. (NASDAQ:CASY) by 6.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,275 shares of the company’s stock after acquiring an additional 273 shares during the quarter. Federated Hermes Inc.’s holdings in Casey’s General Stores were worth $1,631,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Meeder Asset Management Inc. lifted its holdings in Casey’s General Stores by 70.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 9,085 shares of the company’s stock valued at $3,466,000 after purchasing an additional 3,750 shares in the last quarter. Oppenheimer & Co. Inc. lifted its stake in shares of Casey’s General Stores by 0.3% during the second quarter. Oppenheimer & Co. Inc. now owns 12,769 shares of the company’s stock valued at $4,872,000 after buying an additional 37 shares during the period. Trueblood Wealth Management LLC boosted its position in Casey’s General Stores by 8.3% during the second quarter. Trueblood Wealth Management LLC now owns 1,424 shares of the company’s stock worth $543,000 after acquiring an additional 109 shares during the last quarter. American Century Companies Inc. grew its stake in Casey’s General Stores by 189.1% in the 2nd quarter. American Century Companies Inc. now owns 132,375 shares of the company’s stock worth $50,509,000 after acquiring an additional 86,582 shares during the period. Finally, Mitchell Sinkler & Starr PA raised its holdings in Casey’s General Stores by 27.5% in the 2nd quarter. Mitchell Sinkler & Starr PA now owns 1,390 shares of the company’s stock valued at $526,000 after acquiring an additional 300 shares during the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

Insider Buying and Selling at Casey’s General Stores

In other news, Director Mike Spanos bought 267 shares of Casey’s General Stores stock in a transaction dated Wednesday, September 18th. The shares were acquired at an average cost of $376.18 per share, with a total value of $100,440.06. Following the completion of the transaction, the director now owns 2,594 shares in the company, valued at approximately $975,810.92. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Thomas P. Brennan, Jr. sold 3,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $380.24, for a total transaction of $1,140,720.00. Following the completion of the sale, the insider now directly owns 9,044 shares in the company, valued at $3,438,890.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mike Spanos purchased 267 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was acquired at an average price of $376.18 per share, for a total transaction of $100,440.06. Following the purchase, the director now owns 2,594 shares of the company’s stock, valued at approximately $975,810.92. The disclosure for this purchase can be found here. 0.47% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CASY. JPMorgan Chase & Co. downgraded Casey’s General Stores from a “neutral” rating to an “underweight” rating and lifted their price objective for the company from $300.00 to $337.00 in a research report on Thursday. BMO Capital Markets upped their price objective on shares of Casey’s General Stores from $305.00 to $400.00 and gave the company a “market perform” rating in a research note on Thursday, June 13th. Evercore ISI raised their target price on shares of Casey’s General Stores from $410.00 to $435.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Wells Fargo & Company boosted their target price on shares of Casey’s General Stores from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Finally, Northcoast Research raised shares of Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $410.00 price target on the stock in a research note on Thursday, July 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $404.90.

Casey’s General Stores Price Performance

Casey’s General Stores stock opened at $368.00 on Friday. The firm has a fifty day moving average of $374.46 and a 200-day moving average of $346.94. Casey’s General Stores, Inc. has a 52-week low of $260.13 and a 52-week high of $401.07. The company has a quick ratio of 0.44, a current ratio of 0.84 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $13.66 billion, a P/E ratio of 27.40, a PEG ratio of 2.58 and a beta of 0.80.

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

Casey’s General Stores Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.54%. The ex-dividend date is Friday, November 1st. Casey’s General Stores’s dividend payout ratio (DPR) is presently 14.89%.

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.