Hsbc Holdings PLC Invests $221,000 in Casey's General Stores, Inc. $CASY

Key Points

• Hsbc Holdings PLC has acquired a new position in Casey's General Stores, investing approximately $221,000 for 509 shares during the 1st quarter.
• Several institutional investors have significantly increased their holdings in Casey's General Stores, with Wellington Management Group raising its position by 190.6%.
• Casey's General Stores reported a strong Q4, with earnings per share of $2.63, beating estimates and reflecting a 10.9% year-over-year revenue growth.

Hsbc Holdings PLC purchased a new position in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 509 shares of the company's stock, valued at approximately $221,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CASY. Captrust Financial Advisors boosted its position in shares of Casey's General Stores by 12.5% during the fourth quarter. Captrust Financial Advisors now owns 4,042 shares of the company's stock worth $1,602,000 after purchasing an additional 448 shares in the last quarter. BOKF NA boosted its position in shares of Casey's General Stores by 3,508.8% during the fourth quarter. BOKF NA now owns 4,114 shares of the company's stock worth $1,588,000 after purchasing an additional 4,000 shares in the last quarter. Cetera Investment Advisers boosted its position in shares of Casey's General Stores by 2.1% during the fourth quarter. Cetera Investment Advisers now owns 17,604 shares of the company's stock worth $6,975,000 after purchasing an additional 355 shares in the last quarter. Fiduciary Trust Co bought a new position in shares of Casey's General Stores during the fourth quarter worth $210,000. Finally, Ethic Inc. boosted its position in shares of Casey's General Stores by 28.2% during the fourth quarter. Ethic Inc. now owns 2,175 shares of the company's stock worth $862,000 after purchasing an additional 479 shares in the last quarter. 85.63% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CASY has been the topic of a number of recent analyst reports. Stephens reissued an "overweight" rating and set a $490.00 price target on shares of Casey's General Stores in a research report on Tuesday, June 10th. Royal Bank Of Canada lifted their price target on shares of Casey's General Stores from $468.00 to $542.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 9th. KeyCorp raised their price objective on shares of Casey's General Stores from $550.00 to $575.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Wells Fargo & Company raised their price objective on shares of Casey's General Stores from $460.00 to $540.00 and gave the stock an "overweight" rating in a report on Wednesday, June 11th. Finally, Wall Street Zen upgraded shares of Casey's General Stores from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Eight research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Casey's General Stores presently has a consensus rating of "Moderate Buy" and a consensus target price of $467.33.

Insider Transactions at Casey's General Stores

In other Casey's General Stores news, CEO Darren M. Rebelez sold 20,000 shares of Casey's General Stores stock in a transaction 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. The trade was a 18.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Katrina S. Lindsey sold 2,000 shares of Casey's General Stores stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $506.07, for a total transaction of $1,012,140.00. Following the completion of the sale, the insider owned 4,636 shares in the company, valued at $2,346,140.52. The trade was a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety 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 Up 3.1%

CASY stock traded up $15.86 during midday trading on Monday, hitting $521.50. The company's stock had a trading volume of 1,222,629 shares, compared to its average volume of 216,103. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.92 and a quick ratio of 0.48. Casey's General Stores, Inc. has a twelve month low of $362.42 and a twelve month high of $531.24. The company's fifty day moving average price is $513.60 and its 200 day moving average price is $469.20. The stock has a market capitalization of $19.39 billion, a P/E ratio of 35.62 and a beta of 0.66.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its quarterly earnings results on Monday, September 8th. The company reported $5.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.01 by $0.76. Casey's General Stores had a net margin of 3.43% and a return on equity of 16.28%. During the same period last year, the company posted $4.83 EPS. The firm's revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, equities research analysts predict that Casey's General Stores, Inc. will post 13.94 EPS for the current year.

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.