JPMorgan Chase & Co. grew its stake in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 42.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,036,426 shares of the company's stock after acquiring an additional 306,628 shares during the quarter. JPMorgan Chase & Co. owned about 2.79% of Casey's General Stores worth $449,851,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. GAMMA Investing LLC grew its holdings in shares of Casey's General Stores by 54,448.8% during the 1st quarter. GAMMA Investing LLC now owns 543,852 shares of the company's stock worth $236,054,000 after purchasing an additional 542,855 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Casey's General Stores by 51.5% during the 1st quarter. Bank of New York Mellon Corp now owns 515,603 shares of the company's stock worth $223,792,000 after purchasing an additional 175,372 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Casey's General Stores by 699.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 126,845 shares of the company's stock worth $55,056,000 after purchasing an additional 110,982 shares during the period. Freestone Grove Partners LP purchased a new stake in shares of Casey's General Stores during the 4th quarter worth about $24,985,000. Finally, Northern Trust Corp grew its holdings in shares of Casey's General Stores by 21.5% during the 4th quarter. Northern Trust Corp now owns 332,504 shares of the company's stock worth $131,748,000 after purchasing an additional 58,844 shares during the period. Institutional investors and hedge funds own 85.63% of the company's stock.
Insider Buying and Selling at Casey's General Stores
In other news, Director Mike Spanos purchased 200 shares of the company's stock in a transaction that occurred on Monday, June 30th. The shares were 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 in the company, valued at approximately $1,791,320.80. The trade was a 5.95% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Darren M. Rebelez sold 20,000 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $507.83, for a total value of $10,156,600.00. Following the sale, the chief executive officer directly owned 89,840 shares in the company, valued at approximately $45,623,447.20. This represents a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,646 shares of company stock worth $22,136,614. 0.54% of the stock is owned by insiders.
Casey's General Stores Stock Down 0.1%
Shares of CASY traded down $0.34 during trading on Friday, reaching $507.84. The company's stock had a trading volume of 194,944 shares, compared to its average volume of 250,511. The company has a fifty day moving average of $513.09 and a two-hundred day moving average of $460.21. Casey's General Stores, Inc. has a twelve month low of $350.52 and a twelve month high of $531.24. The company has a market cap of $18.88 billion, a price-to-earnings ratio of 34.69 and a beta of 0.69. The company has a quick ratio of 0.48, a current ratio of 0.92 and a debt-to-equity ratio of 0.69.
Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its earnings results on Monday, June 9th. The company reported $2.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.94 by $0.69. Casey's General Stores had a return on equity of 16.28% and a net margin of 3.43%. The company had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.95 billion. During the same period in the prior year, the company posted $2.34 EPS. Casey's General Stores's quarterly revenue was up 10.9% on a year-over-year basis. On average, sell-side analysts predict that Casey's General Stores, Inc. will post 13.94 EPS for the current fiscal year.
Casey's General Stores Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were given a dividend of $0.57 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $2.28 annualized dividend and a dividend yield of 0.4%. This is an increase from Casey's General Stores's previous quarterly dividend of $0.50. Casey's General Stores's dividend payout ratio is currently 15.57%.
Wall Street Analysts Forecast Growth
CASY has been the subject of a number of research reports. Stephens reiterated an "overweight" rating and set a $490.00 target price on shares of Casey's General Stores in a report on Tuesday, June 10th. BMO Capital Markets boosted their target price on Casey's General Stores from $450.00 to $515.00 and gave the stock a "market perform" rating in a report on Wednesday, June 11th. Royal Bank Of Canada boosted their target price on 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. Wall Street Zen upgraded Casey's General Stores from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Finally, The Goldman Sachs Group upped their price target on Casey's General Stores from $385.00 to $450.00 and gave the stock a "neutral" rating in a report on Wednesday, June 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $467.33.
Check Out Our Latest Stock Report on CASY
Casey's General Stores Company Profile
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Free Report)
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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