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

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

A number of other large investors have 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 in the 3rd quarter valued at approximately $25,000. Central Pacific Bank Trust Division boosted its position in shares of 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 worth $30,000 after acquiring an additional 19 shares in the last quarter. True Wealth Design LLC increased its stake in Casey’s General Stores by 350.0% in the fourth quarter. True Wealth Design LLC now owns 54 shares of the company’s stock valued at $30,000 after acquiring an additional 42 shares during the last quarter. ORG Partners LLC increased its stake 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. Finally, Vermillion & White Wealth Management Group LLC acquired a new position in Casey’s General Stores during the third quarter valued at approximately $35,000. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Casey’s General Stores

In other news, Director Mike Spanos purchased 256 shares of Casey’s General Stores stock in a transaction dated Friday, June 26th. The shares were bought at an average cost of $778.81 per share, for a total transaction of $199,375.36. Following the completion of the acquisition, the director owned 4,758 shares in the company, valued at approximately $3,705,577.98. This trade represents a 5.69% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.54% of the company’s stock.

Casey’s General Stores Stock Performance

NASDAQ CASY opened at $780.24 on Tuesday. The firm’s fifty day moving average price is $819.20 and its two-hundred day moving average price is $706.89. The stock has a market cap of $28.87 billion, a PE ratio of 40.72, a PEG ratio of 2.34 and a beta of 0.61. Casey’s General Stores, Inc. has a fifty-two week low of $490.00 and a fifty-two week high of $927.85. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 1.01.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $3.31 by $1.06. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.The company had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.33 billion. During the same period in the prior year, the company earned $2.63 EPS. Casey’s General Stores’s revenue was up 14.5% compared to the same quarter last year. On average, equities 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 company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Saturday, August 1st will be paid 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 dividend on an annualized basis and a dividend yield of 0.3%. Casey’s General Stores’s payout ratio is 13.57%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CASY. Deutsche Bank Aktiengesellschaft restated 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. Jefferies Financial Group lifted their price target on Casey’s General Stores from $700.00 to $780.00 and gave the company a “buy” rating in a research note on Tuesday, March 10th. Zacks Research cut Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Wolfe Research restated an “outperform” rating and set a $1,069.00 price objective on shares of Casey’s General Stores in a research report on Thursday, June 11th. Finally, Royal Bank Of Canada raised their price objective on Casey’s General Stores from $794.00 to $850.00 and gave the company a “sector perform” rating in a research note on Thursday. Thirteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $939.29.

Casey’s General Stores Profile

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.