111 Capital Raises Stock Holdings in Casey's General Stores, Inc. $CASY

Key Points

• 111 Capital increased its stake in Casey's General Stores by 198.1% during the second quarter, now holding 2,832 shares valued at approximately $1.45 million.
• Casey's General Stores reported earnings per share of $5.77 for the most recent quarter, exceeding analysts' expectations of $5.02, with revenues of $4.57 billion.
• The company declared a quarterly dividend of $0.57 per share, with the payment scheduled for November 14th, representing an annualized yield of 0.4%.

111 Capital lifted its stake in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 198.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,832 shares of the company's stock after buying an additional 1,882 shares during the quarter. 111 Capital's holdings in Casey's General Stores were worth $1,445,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in CASY. Wellington Management Group LLP raised its stake in Casey's General Stores by 190.6% during the 1st quarter. Wellington Management Group LLP now owns 1,244,311 shares of the company's stock worth $540,081,000 after acquiring an additional 816,110 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Casey's General Stores by 42.0% in the first quarter. JPMorgan Chase & Co. now owns 1,036,426 shares of the company's stock worth $449,851,000 after purchasing an additional 306,628 shares in the last quarter. Third Point LLC purchased a new stake in shares of Casey's General Stores in the first quarter worth $130,212,000. Nuveen LLC bought a new stake in shares of Casey's General Stores during the 1st quarter valued at $76,467,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Casey's General Stores by 51.5% during the 1st quarter. Bank of New York Mellon Corp now owns 515,603 shares of the company's stock valued at $223,792,000 after buying an additional 175,372 shares in the last quarter. 85.63% of the stock is currently owned by institutional investors.

Casey's General Stores Price Performance

NASDAQ:CASY opened at $567.48 on Friday. The business's 50-day moving average is $526.40 and its 200 day moving average is $488.11. Casey's General Stores, Inc. has a 12 month low of $366.00 and a 12 month high of $571.57. The company has a market capitalization of $21.10 billion, a P/E ratio of 36.42 and a beta of 0.68. The company has a current ratio of 1.03, a quick ratio of 0.61 and a debt-to-equity ratio of 0.65.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its quarterly earnings results on Monday, September 8th. The company reported $5.77 earnings per share for the quarter, beating the consensus estimate of $5.02 by $0.75. The business had revenue of $4.57 billion during the quarter, compared to analysts' expectations of $4.47 billion. Casey's General Stores had a return on equity of 16.73% and a net margin of 3.54%.The firm's revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter last year, the business posted $4.83 EPS. On average, equities research analysts forecast that Casey's General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey's General Stores Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Saturday, November 1st will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a $2.28 dividend on an annualized basis and a yield of 0.4%. Casey's General Stores's dividend payout ratio is presently 14.63%.

Insider Buying and Selling

In other Casey's General Stores news, insider Chad Michael Frazell sold 3,487 shares of Casey's General Stores stock in a transaction on Monday, September 29th. The shares were sold at an average price of $555.40, for a total value of $1,936,679.80. Following the completion of the transaction, the insider directly owned 7,993 shares of the company's stock, valued at $4,439,312.20. This trade represents a 30.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.54% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CASY shares. KeyCorp upped their target price on shares of Casey's General Stores from $550.00 to $575.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. The Goldman Sachs Group upped their price objective on Casey's General Stores from $450.00 to $490.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 10th. Wells Fargo & Company increased their target price on Casey's General Stores from $540.00 to $580.00 and gave the stock an "overweight" rating in a research report on Monday, September 8th. Jefferies Financial Group lifted their target price on Casey's General Stores from $575.00 to $600.00 and gave the company a "buy" rating in a research note on Tuesday, September 9th. Finally, Stephens restated an "overweight" rating and issued a $530.00 price target on shares of Casey's General Stores in a research note on Tuesday, September 9th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Casey's General Stores presently has a consensus rating of "Moderate Buy" and a consensus target price of $529.10.

Casey's General Stores Company Profile

Casey's General Stores, Inc engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.

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