4,274 Shares in Casey's General Stores, Inc. $CASY Purchased by GSA Capital Partners LLP

Key Points

• GSA Capital Partners purchased 4,274 Casey’s General Stores shares worth approximately $3.4 million in the second quarter. Institutional investors and hedge funds collectively own 85.63% of the company.
• Analysts maintain a favorable outlook, with 14 Buy ratings and six Holds, an overall “Moderate Buy” consensus, and an average price target of $944.20.
• Casey’s reported stronger-than-expected quarterly results, including $4.37 in EPS and $4.57 billion in revenue, while raising its quarterly dividend to $0.65 per share. Shares opened at $846.45, down 0.9%.

GSA Capital Partners LLP purchased a new stake in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,274 shares of the company's stock, valued at approximately $3,397,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kathmere Capital Management LLC increased its holdings in shares of Casey's General Stores by 3.5% during the first quarter. Kathmere Capital Management LLC now owns 387 shares of the company's stock worth $282,000 after buying an additional 13 shares in the last quarter. Pinnacle Bancorp Inc. boosted its holdings in shares of Casey's General Stores by 4.8% in the 1st quarter. Pinnacle Bancorp Inc. now owns 303 shares of the company's stock worth $221,000 after acquiring an additional 14 shares in the last quarter. Lincoln Capital LLC grew its position in Casey's General Stores by 4.0% during the 2nd quarter. Lincoln Capital LLC now owns 366 shares of the company's stock worth $291,000 after acquiring an additional 14 shares during the last quarter. Menard Financial Group LLC increased its holdings in Casey's General Stores by 1.2% during the 4th quarter. Menard Financial Group LLC now owns 1,267 shares of the company's stock valued at $700,000 after purchasing an additional 15 shares in the last quarter. Finally, Cibc World Market Inc. increased its holdings in Casey's General Stores by 0.3% during the 4th quarter. Cibc World Market Inc. now owns 5,136 shares of the company's stock valued at $2,839,000 after purchasing an additional 16 shares in the last quarter. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the firm's stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $838.16, for a total value of $4,777,512.00. Following the transaction, the chief financial officer owned 29,677 shares of the company's stock, valued at approximately $24,874,074.32. This trade represents a 16.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Katrina S. Lindsey sold 2,000 shares of Casey's General Stores stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $800.00, for a total transaction of $1,600,000.00. Following the sale, the insider owned 6,668 shares of the company's stock, valued at approximately $5,334,400. This represents a 23.07% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 30,243 shares of company stock worth $24,421,877. Corporate insiders own 0.67% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on CASY shares. KeyCorp lifted their price objective on Casey's General Stores from $950.00 to $970.00 and gave the company an "overweight" rating in a research report on Thursday, June 11th. Evercore restated an "outperform" rating and issued a $990.00 target price on shares of Casey's General Stores in a research note on Friday, June 12th. William Blair initiated coverage on Casey's General Stores in a report on Wednesday, May 20th. They issued an "outperform" rating for the company. JPMorgan Chase & Co. upped their price target on shares of Casey's General Stores from $719.00 to $975.00 and gave the stock a "neutral" rating in a research report on Friday, June 12th. Finally, Capital One Financial initiated coverage on shares of Casey's General Stores in a report on Monday, June 22nd. They set an "equal weight" rating and a $896.00 price objective on the stock. Fourteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $944.20.

Casey's General Stores Stock Down 0.9%

Shares of CASY opened at $846.45 on Friday. The firm has a market capitalization of $31.33 billion, a price-to-earnings ratio of 44.18, a PEG ratio of 2.54 and a beta of 0.61. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 1.01. The business's fifty day moving average price is $837.57 and its two-hundred day moving average price is $767.79. Casey's General Stores, Inc. has a 52 week low of $490.00 and a 52 week high of $927.85.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its earnings results on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, beating the consensus estimate 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 last year, the firm earned $2.63 EPS. The business's revenue for the quarter was up 14.5% on a year-over-year basis. On average, analysts predict that Casey's General Stores, Inc. will post 21.14 earnings per share for the current year.

Casey's General Stores Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Saturday, August 1st were given a $0.65 dividend. The ex-dividend date was 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 yield of 0.3%. Casey's General Stores's dividend payout ratio is 13.57%.

About Casey's General Stores

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source