Casey's General Stores, Inc. $CASY Holdings Boosted by Foster Group Inc.

Key Points

• Foster Group Inc. increased its stake in Casey's General Stores by 9.2%, owning 7,813 shares valued at approximately $3.99 million as reported in a recent SEC filing.
• Casey's General Stores reported a quarterly earnings per share (EPS) of $5.77, exceeding analysts' expectations of $5.02, and demonstrated a revenue growth of 11.5% year-over-year to $4.57 billion.
• The company announced a quarterly dividend of $0.57 per share, with the ex-dividend date set for October 31, representing an annualized yield of 0.4%.

Foster Group Inc. raised its stake in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 9.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,813 shares of the company's stock after acquiring an additional 660 shares during the period. Foster Group Inc.'s holdings in Casey's General Stores were worth $3,987,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CASY. Wellington Management Group LLP grew 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 buying an additional 816,110 shares during the last quarter. GAMMA Investing LLC lifted its stake in Casey's General Stores by 54,448.8% in the first quarter. GAMMA Investing LLC now owns 543,852 shares of the company's stock valued at $236,054,000 after buying an additional 542,855 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Casey's General Stores by 42.0% during the first quarter. JPMorgan Chase & Co. now owns 1,036,426 shares of the company's stock valued at $449,851,000 after acquiring an additional 306,628 shares during the period. Third Point LLC bought a new position in shares of Casey's General Stores during the first quarter worth about $130,212,000. Finally, Nuveen LLC acquired a new stake in shares of Casey's General Stores in the 1st quarter worth about $76,467,000. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Casey's General Stores Price Performance

NASDAQ CASY opened at $546.89 on Monday. 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, Inc. has a 1 year low of $362.42 and a 1 year high of $571.57. The company has a market cap of $20.33 billion, a PE ratio of 35.10 and a beta of 0.66. The stock's 50-day moving average price is $519.47 and its two-hundred day moving average price is $477.99.

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

Casey's General Stores Announces Dividend

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

Wall Street Analyst Weigh In

CASY has been the subject of a number of analyst reports. Royal Bank Of Canada boosted their target price on shares of Casey's General Stores from $468.00 to $542.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 9th. Jefferies Financial Group boosted their price objective on Casey's General Stores from $575.00 to $600.00 and gave the stock a "buy" rating in a research report on Tuesday, September 9th. Wall Street Zen upgraded Casey's General Stores from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. KeyCorp lifted their target price on Casey's General Stores from $550.00 to $575.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Finally, Stephens reissued 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 equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $520.55.

Insiders Place Their Bets

In other news, CFO Stephen P. Bramlage, Jr. sold 760 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $507.56, for a total value of $385,745.60. Following the completion of the sale, the chief financial officer owned 25,994 shares in the company, valued at $13,193,514.64. This represents a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mike Spanos bought 200 shares of the firm's stock in a transaction dated Monday, June 30th. The stock was acquired at an average cost of $503.18 per share, with a total value of $100,636.00. Following the transaction, the director owned 3,560 shares of the company's stock, valued at $1,791,320.80. This trade represents a 5.95% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.54% of the stock is owned by corporate insiders.

Casey's General Stores 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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