YHB Investment Advisors Inc. Boosts Stock Position in Casey's General Stores, Inc. $CASY

Key Points

• YHB Investment Advisors Inc. raised its stake in Casey's General Stores by 31.3%, holding shares worth approximately $1.3 million after acquiring additional shares in the second quarter.
• Institutional investors own 85.63% of the company, with significant increases in holdings reported by Wellington Management Group LLP and others during the first quarter.
• Casey's General Stores announced a quarterly dividend of $0.57, representing an annualized dividend yield of 0.4%, to be paid on November 14th.

YHB Investment Advisors Inc. lifted its stake in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 31.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,546 shares of the company's stock after acquiring an additional 607 shares during the quarter. YHB Investment Advisors Inc.'s holdings in Casey's General Stores were worth $1,299,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Wellington Management Group LLP lifted its stake in Casey's General Stores by 190.6% in the first quarter. Wellington Management Group LLP now owns 1,244,311 shares of the company's stock worth $540,081,000 after acquiring an additional 816,110 shares during the period. GAMMA Investing LLC boosted its position in Casey's General Stores by 54,448.8% during the first quarter. GAMMA Investing LLC now owns 543,852 shares of the company's stock valued at $236,054,000 after purchasing an additional 542,855 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Casey's General Stores by 42.0% in the first quarter. JPMorgan Chase & Co. now owns 1,036,426 shares of the company's stock valued at $449,851,000 after purchasing an additional 306,628 shares during the last quarter. Third Point LLC bought a new position in Casey's General Stores in the first quarter worth about $130,212,000. Finally, Nuveen LLC purchased a new stake in shares of Casey's General Stores during the first quarter valued at about $76,467,000. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Casey's General Stores

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. The Goldman Sachs Group upped their price objective on shares of Casey's General Stores from $450.00 to $490.00 and gave the company a "neutral" rating in a report on Wednesday, September 10th. Evercore ISI boosted their price objective on Casey's General Stores from $560.00 to $580.00 and gave the company an "outperform" rating in a report on Wednesday, September 10th. Royal Bank Of Canada upped their target price on shares of Casey's General Stores from $468.00 to $542.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 9th. Wells Fargo & Company boosted their price target on shares of Casey's General Stores from $540.00 to $580.00 and gave the stock an "overweight" rating in a research report on Monday, September 8th. Finally, Wall Street Zen raised shares of Casey's General Stores from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $520.55.

Casey's General Stores Trading Down 0.1%

Shares of Casey's General Stores stock traded down $0.37 during mid-day trading on Monday, hitting $546.73. The stock had a trading volume of 140,928 shares, compared to its average volume of 359,487. The firm has a market cap of $20.33 billion, a P/E ratio of 35.10 and a beta of 0.66. 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 firm has a 50-day moving average of $519.47 and a two-hundred day moving average of $477.99. Casey's General Stores, Inc. has a 12-month low of $363.00 and a 12-month high of $571.57.

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 (EPS) for the quarter, topping the consensus estimate of $5.02 by $0.75. The company had revenue of $4.57 billion during the quarter, compared to analysts' expectations of $4.47 billion. Casey's General Stores had a return on equity of 16.73% and a net margin of 3.54%.The firm's quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the firm earned $4.83 earnings per share. Sell-side analysts forecast that Casey's General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey's General Stores Dividend Announcement

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