40,350 Shares in Casey's General Stores, Inc. $CASY Purchased by TrinityBridge Ltd

Key Points

• TrinityBridge Ltd acquired 40,350 Casey’s General Stores shares in the third quarter, valued at approximately $24.6 million, representing about 0.11% of the company.
• Casey’s reported quarterly earnings of $7.37 per share and revenue of $5.68 billion, beating analyst expectations; revenue rose 24.3% year over year.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $835.38. The company also announced a $0.65 quarterly dividend per share.

TrinityBridge Ltd acquired a new stake in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 40,350 shares of the company's stock, valued at approximately $24,559,000. TrinityBridge Ltd owned approximately 0.11% of Casey's General Stores at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of research analysts have issued reports on CASY shares. BMO Capital Markets set a $810.00 target price on Casey's General Stores in a research report on Thursday, September 10th. Weiss Ratings reissued a "buy (b)" rating on shares of Casey's General Stores in a report on Monday, October 19th. JPMorgan Chase & Co. reduced their price target on shares of Casey's General Stores from $975.00 to $833.00 and set a "neutral" rating on the stock in a research note on Thursday, September 3rd. Evercore restated an "outperform" rating and issued a $775.00 price target on shares of Casey's General Stores in a research note on Friday, September 11th. Finally, Wall Street Zen lowered shares of Casey's General Stores from a "buy" rating to a "hold" rating in a report on Saturday, September 12th. Sixteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $835.38.

Casey's General Stores Stock Performance

Shares of CASY opened at $665.39 on Wednesday. The firm has a market cap of $24.59 billion, a PE ratio of 32.05, a PEG ratio of 2.16 and a beta of 0.59. Casey's General Stores, Inc. has a 1 year low of $511.32 and a 1 year high of $927.85. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 0.61. The stock's fifty day moving average price is $665.52 and its two-hundred day moving average price is $740.30.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its earnings results on Tuesday, September 8th. The company reported $7.37 earnings per share for the quarter, topping analysts' consensus estimates of $6.78 by $0.59. Casey's General Stores had a net margin of 4.14% and a return on equity of 19.68%. The firm had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.56 billion. During the same quarter last year, the business earned $5.77 earnings per share. The company's quarterly revenue was up 24.3% on a year-over-year basis. On average, equities research analysts forecast that Casey's General Stores, Inc. will post 21.61 EPS for the current year.

Casey's General Stores Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Sunday, November 1st will be issued a dividend of $0.65 per share. 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 payout ratio is presently 12.52%.

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.

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