Casey's General Stores, Inc. $CASY is JLB & Associates Inc.'s 9th Largest Position

Key Points

• JLB & Associates Inc. increased its stake in Casey's General Stores by 4.1%, making it the firm's 9th largest position, holding approximately $23.88 million in the company.
• Several analysts have raised their price targets for Casey's General Stores, with Wells Fargo & Company now targeting $580, signaling an "overweight" outlook for the stock.
• The company reported $5.77 earnings per share for the last quarter, exceeding expectations and showing a revenue increase of 11.5% year-over-year.

JLB & Associates Inc. lifted its holdings in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 4.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 46,797 shares of the company's stock after buying an additional 1,823 shares during the period. Casey's General Stores makes up approximately 3.3% of JLB & Associates Inc.'s holdings, making the stock its 9th largest position. JLB & Associates Inc. owned approximately 0.13% of Casey's General Stores worth $23,879,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc acquired a new stake in Casey's General Stores during the 1st quarter worth approximately $25,000. Summit Securities Group LLC acquired a new stake in shares of Casey's General Stores during the first quarter worth $32,000. Iron Horse Wealth Management LLC lifted its holdings in shares of Casey's General Stores by 40.0% during the first quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company's stock worth $40,000 after purchasing an additional 26 shares during the period. WPG Advisers LLC purchased a new position in Casey's General Stores in the 1st quarter valued at $47,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in Casey's General Stores by 242.9% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 96 shares of the company's stock valued at $49,000 after buying an additional 68 shares during the period. Institutional investors and hedge funds own 85.63% of the company's stock.

Wall Street Analyst Weigh In

CASY has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on shares of Casey's General Stores from $540.00 to $580.00 and gave the company an "overweight" rating in a report on Monday, September 8th. Evercore ISI raised their price objective on shares of Casey's General Stores from $560.00 to $580.00 and gave the company an "outperform" rating in a research report on Wednesday, September 10th. Jefferies Financial Group boosted their target price 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. KeyCorp raised their price target on Casey's General Stores from $550.00 to $575.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Finally, Royal Bank Of Canada lifted their price target on 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. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $529.10.

Insider Buying and Selling

In related news, CFO Stephen P. Bramlage, Jr. sold 760 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $507.56, for a total transaction of $385,745.60. Following the transaction, the chief financial officer directly owned 25,994 shares in the company, valued at approximately $13,193,514.64. This represents a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.54% of the company's stock.

Casey's General Stores Trading Up 2.4%

NASDAQ:CASY opened at $560.94 on Tuesday. Casey's General Stores, Inc. has a 52-week low of $363.00 and a 52-week high of $571.57. The company has a quick ratio of 0.61, a current ratio of 1.03 and a debt-to-equity ratio of 0.65. The stock has a fifty day simple moving average of $523.36 and a 200-day simple moving average of $484.67. The company has a market capitalization of $20.86 billion, a PE ratio of 36.00 and a beta of 0.66.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its earnings results on Monday, September 8th. The company reported $5.77 earnings per share for the quarter, beating the consensus estimate of $5.02 by $0.75. The firm had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.47 billion. Casey's General Stores had a net margin of 3.54% and a return on equity of 16.73%. The firm's revenue for the quarter was up 11.5% on a year-over-year basis. During the same period last year, the firm posted $4.83 EPS. On average, equities research analysts expect that Casey's General Stores, Inc. will post 13.94 earnings per share 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 14th. Stockholders of record on Saturday, November 1st will be given a $0.57 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.4%. Casey's General Stores's payout ratio is currently 14.63%.

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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