abrdn plc Invests $30.54 Million in Casey’s General Stores, Inc. (NASDAQ:CASY)

abrdn plc acquired a new stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 81,280 shares of the company’s stock, valued at approximately $30,538,000. abrdn plc owned about 0.22% of Casey’s General Stores as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. J.W. Cole Advisors Inc. acquired a new stake in shares of Casey’s General Stores during the 3rd quarter worth approximately $201,000. State of Alaska Department of Revenue grew its stake in Casey’s General Stores by 2.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 13,461 shares of the company’s stock worth $5,056,000 after buying an additional 290 shares during the last quarter. Smith Salley Wealth Management lifted its stake in Casey’s General Stores by 4.6% in the third quarter. Smith Salley Wealth Management now owns 29,235 shares of the company’s stock valued at $10,984,000 after buying an additional 1,278 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of Casey’s General Stores by 15.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 8,911 shares of the company’s stock valued at $3,321,000 after acquiring an additional 1,194 shares during the period. Finally, Covenant Partners LLC grew its position in shares of Casey’s General Stores by 5.3% during the third quarter. Covenant Partners LLC now owns 791 shares of the company’s stock worth $297,000 after acquiring an additional 40 shares during the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

Casey’s General Stores Stock Performance

Shares of CASY opened at $398.31 on Thursday. The company has a 50-day moving average of $377.61 and a two-hundred day moving average of $362.04. The stock has a market cap of $14.78 billion, a price-to-earnings ratio of 28.99 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 one year low of $266.56 and a one year high of $401.17.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Wednesday, September 4th. The company reported $4.83 EPS for the quarter, topping analysts’ consensus estimates of $4.54 by $0.29. The firm had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.15 billion. Casey’s General Stores had a net margin of 3.40% and a return on equity of 17.07%. The company’s revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the business posted $4.52 EPS. On average, equities research analysts expect that Casey’s General Stores, Inc. will post 14.01 earnings per share for the current year.

Casey’s General Stores Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend is Friday, November 1st. Casey’s General Stores’s dividend payout ratio is currently 14.56%.

Analysts Set New Price Targets

Several brokerages recently weighed in on CASY. Benchmark reissued a “buy” rating and set a $410.00 target price on shares of Casey’s General Stores in a research note on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft boosted their price objective on Casey’s General Stores from $420.00 to $444.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Royal Bank of Canada raised their target price on Casey’s General Stores from $393.00 to $403.00 and gave the company a “sector perform” rating in a research report on Thursday, September 5th. Wells Fargo & Company boosted their price target on Casey’s General Stores from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Finally, StockNews.com lowered Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Casey’s General Stores currently has a consensus rating of “Moderate Buy” and an average price target of $408.09.

Insiders Place Their Bets

In related news, Director Mike Spanos acquired 267 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were purchased 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 in the company, valued at $975,810.92. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Casey’s General Stores news, insider Thomas P. Brennan, Jr. sold 3,000 shares of the company’s stock in a transaction that occurred on 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 owns 9,044 shares of the company’s stock, valued at $3,438,890.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mike Spanos acquired 267 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were purchased at an average cost of $376.18 per share, with a total value of $100,440.06. Following the completion of the acquisition, the director now owns 2,594 shares in the company, valued at $975,810.92. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.56% of the company’s stock.

Casey’s General Stores Company Profile

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.