Casey's General Stores, Inc. $CASY Stock Purchased by Vontobel Holding Ltd.

Key Points

• Vontobel Holding increased its Casey’s General Stores stake by 21.7% in the third quarter, bringing its holdings to 140,458 shares worth approximately $85.5 million. Institutional investors collectively own 85.63% of the company.
• Casey’s reported quarterly EPS of $7.37, exceeding estimates by $0.59, while revenue rose 24.3% year over year to $5.68 billion. The company also declared a quarterly dividend of $0.65 per share, yielding 0.4% annually.
• CASY shares recently traded at $689.22, up 2.3%, while analysts maintained a “Moderate Buy” consensus with an average price target of $835.38.

Vontobel Holding Ltd. grew its stake in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 21.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 140,458 shares of the company's stock after acquiring an additional 25,009 shares during the quarter. Vontobel Holding Ltd. owned about 0.38% of Casey's General Stores worth $85,463,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CASY. BlackRock Inc. acquired a new stake in shares of Casey's General Stores in the second quarter worth $2,759,895,000. Bank of America Corp DE acquired a new position in shares of Casey's General Stores during the 2nd quarter valued at $281,872,000. Bank of New York Mellon Corp acquired a new position in shares of Casey's General Stores during the 2nd quarter valued at $281,011,000. Jupiter Topco LLC acquired a new position in shares of Casey's General Stores during the 2nd quarter valued at $246,982,000. Finally, Principal Financial Group Inc. boosted its position in Casey's General Stores by 2.1% during the 1st quarter. Principal Financial Group Inc. now owns 252,374 shares of the company's stock worth $183,693,000 after purchasing an additional 5,294 shares during the period. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Casey's General Stores Stock Up 2.3%

CASY traded up $15.59 during trading hours on Friday, reaching $689.22. 546,278 shares of the stock traded hands, compared to its average volume of 599,177. The firm's fifty day simple moving average is $701.72 and its two-hundred day simple moving average is $774.35. The company has a market cap of $25.47 billion, a price-to-earnings ratio of 33.20, a PEG ratio of 2.20 and a beta of 0.59. Casey's General Stores, Inc. has a fifty-two week low of $497.38 and a fifty-two week high of $927.85. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 0.61.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its quarterly earnings results on Tuesday, September 8th. The company reported $7.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.78 by $0.59. Casey's General Stores had a net margin of 4.14% and a return on equity of 19.68%. The firm had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.56 billion. During the same quarter in the previous year, the firm posted $5.77 EPS. The firm's quarterly revenue was up 24.3% on a year-over-year basis. As a group, analysts forecast that Casey's General Stores, Inc. will post 21.43 earnings per share for the current fiscal year.

Casey's General Stores Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Sunday, November 1st will be paid a dividend of $0.65 per share. The ex-dividend date is Friday, October 30th. This represents a $2.60 annualized dividend and a dividend yield of 0.4%. Casey's General Stores's dividend payout ratio (DPR) is currently 12.52%.

Analyst Upgrades and Downgrades

CASY has been the topic of several research reports. Wells Fargo & Company cut their price objective on Casey's General Stores from $960.00 to $750.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 9th. Royal Bank Of Canada raised Casey's General Stores from a "sector perform" rating to an "outperform" rating and decreased their target price for the stock from $910.00 to $825.00 in a research report on Thursday. Raymond James Financial upgraded Casey's General Stores from a "market perform" rating to an "outperform" rating and set a $750.00 target price on the stock in a report on Thursday, September 10th. Capital One Financial started coverage on Casey's General Stores in a report on Monday, June 22nd. They set an "equal weight" rating and a $896.00 target price on the stock. Finally, KeyCorp reduced their price target on Casey's General Stores from $970.00 to $780.00 and set an "overweight" rating on the stock in a research report on Thursday, September 10th. Sixteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $835.38.

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.