16,710 Casey's General Stores, Inc. $CASY Shares Acquired by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Casey’s General Stores stake by 85.4% in the third quarter, acquiring 16,710 additional shares for a total holding valued at approximately $22.1 million. Institutional investors and hedge funds collectively own 85.63% of the company.
• Casey’s exceeded quarterly expectations, reporting $7.37 in EPS versus the $6.78 consensus estimate and $5.68 billion in revenue, up 24.3% year over year.
• The company declared a quarterly dividend of $0.65 per share, equivalent to a $2.60 annualized payout and a 0.4% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $835.38.

Assenagon Asset Management S.A. grew its position in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 85.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,272 shares of the company's stock after acquiring an additional 16,710 shares during the period. Assenagon Asset Management S.A. owned about 0.10% of Casey's General Stores worth $22,070,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Casey's General Stores in the second quarter valued at approximately $2,759,895,000. Bank of America Corp DE acquired a new stake in Casey's General Stores in the second quarter valued at $281,872,000. Bank of New York Mellon Corp acquired a new stake in Casey's General Stores in the second quarter valued at $281,011,000. Jupiter Topco LLC acquired a new stake in Casey's General Stores in the second quarter valued at $246,982,000. Finally, Corient Private Wealth LP purchased a new stake in shares of Casey's General Stores during the 2nd quarter worth $164,376,000. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Casey's General Stores Stock Performance

CASY opened at $689.22 on Monday. Casey's General Stores, Inc. has a 1-year low of $497.38 and a 1-year high of $927.85. The stock has a market cap of $25.47 billion, a P/E ratio of 33.20, a P/E/G ratio of 2.25 and a beta of 0.59. The stock's 50 day simple moving average is $701.72 and its 200 day simple moving average is $774.84. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 0.61.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its quarterly earnings data on Tuesday, September 8th. The company reported $7.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.78 by $0.59. The firm had revenue of $5.68 billion during the quarter, compared to analysts' expectations of $5.56 billion. Casey's General Stores had a return on equity of 19.68% and a net margin of 4.14%. Casey's General Stores's revenue was up 24.3% on a year-over-year basis. During the same period in the previous year, the firm posted $5.77 earnings per share. As a group, equities analysts anticipate that Casey's General Stores, Inc. will post 21.43 EPS for the current fiscal year.

Casey's General Stores Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Sunday, November 1st will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Friday, October 30th. Casey's General Stores's dividend payout ratio is presently 12.52%.

Wall Street Analyst Weigh In

CASY has been the topic of a number of recent analyst reports. BNP Paribas Exane lowered their price target on shares of Casey's General Stores from $1,032.00 to $995.00 and set an "outperform" rating on the stock in a research note on Thursday, June 25th. Wells Fargo & Company cut their price target on shares of Casey's General Stores from $960.00 to $750.00 and set an "overweight" rating for the company in a report on Wednesday, September 9th. UBS Group reduced their price objective on shares of Casey's General Stores from $925.00 to $720.00 and set a "neutral" rating for the company in a research note on Thursday, September 10th. Evercore reiterated an "outperform" rating and issued a $775.00 price objective on shares of Casey's General Stores in a research note on Friday, September 11th. Finally, Wall Street Zen downgraded shares of Casey's General Stores from a "buy" rating to a "hold" rating in a report on Saturday, September 12th. Sixteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $835.38.

Casey's General Stores Company 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.

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