Capstone Investment Advisors LLC Invests $2.09 Million in Casey's General Stores, Inc. $CASY

Capstone Investment Advisors LLC acquired a new stake in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,624 shares of the company's stock, valued at approximately $2,086,000.

A number of other large investors have also modified their holdings of CASY. Geode Capital Management LLC raised its holdings in shares of Casey's General Stores by 7.4% in the 4th quarter. Geode Capital Management LLC now owns 760,438 shares of the company's stock worth $420,416,000 after buying an additional 52,250 shares in the last quarter. Daiichi Life Insurance Co. Ltd. bought a new position in shares of Casey's General Stores during the 2nd quarter worth approximately $1,222,000. Burns J W & Co. Inc. NY boosted its stake in Casey's General Stores by 103.5% in the 1st quarter. Burns J W & Co. Inc. NY now owns 2,448 shares of the company's stock valued at $1,782,000 after buying an additional 1,245 shares in the last quarter. North Dakota State Investment Board acquired a new stake in Casey's General Stores in the 4th quarter valued at $720,000. Finally, Teachers Retirement System of The State of Kentucky grew its position in Casey's General Stores by 52.0% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 17,079 shares of the company's stock valued at $12,431,000 after acquiring an additional 5,846 shares during the period. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CASY has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their target price 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. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $1,000.00 price objective on shares of Casey's General Stores in a research note on Monday, June 15th. The Goldman Sachs Group lifted their target price on shares of Casey's General Stores from $695.00 to $795.00 and gave the company a "neutral" rating in a research note on Thursday, June 25th. Stephens set a $975.00 price target on Casey's General Stores and gave the stock an "overweight" rating in a research report on Friday, June 12th. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $913.00 price target on shares of Casey's General Stores in a report on Wednesday, July 29th. Fourteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $942.87.

Casey's General Stores Stock Down 5.4%

Shares of NASDAQ CASY opened at $763.38 on Friday. The stock has a market cap of $28.25 billion, a P/E ratio of 39.84, a P/E/G ratio of 2.76 and a beta of 0.61. The firm has a 50 day moving average price of $833.65 and a 200 day moving average price of $781.50. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 1.01. 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 quarterly earnings results on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, topping analysts' consensus estimates of $3.31 by $1.06. The company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.33 billion. Casey's General Stores had a return on equity of 18.73% and a net margin of 4.07%.Casey's General Stores's revenue was up 14.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.63 earnings per share. Analysts expect that Casey's General Stores, Inc. will post 21.11 EPS for the current year.

Casey's General Stores Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Saturday, August 1st were given a dividend of $0.65 per share. This is a positive change from Casey's General Stores's previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Friday, July 31st. This represents a $2.60 annualized dividend and a dividend yield of 0.3%. Casey's General Stores's payout ratio is presently 13.57%.

Insider Activity

In other news, Director Allison M. Wing sold 530 shares of the stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $837.58, for a total value of $443,917.40. Following the transaction, the director directly owned 3,042 shares of the company's stock, valued at $2,547,918.36. This represents a 14.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Darren M. Rebelez sold 19,000 shares of the company's stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $801.46, for a total value of $15,227,740.00. Following the completion of the transaction, the chief executive officer directly owned 89,174 shares in the company, valued at $71,469,394.04. The trade was a 17.56% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 30,243 shares of company stock worth $24,421,877. Corporate insiders own 0.67% of the company's stock.

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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