International Assets Investment Management LLC Buys 19,370 Shares of Casey's General Stores, Inc. $CASY

Key Points

• International Assets Investment Management increased its Casey’s General Stores position by 3,074.6%, buying 19,370 additional shares for a total of 20,000 shares valued at approximately $12.2 million. Institutional investors collectively own 85.63% of the company.
• Casey’s reported quarterly EPS of $7.37, beating estimates of $6.78, while revenue rose 24.3% year over year to $5.68 billion. The company declared a quarterly dividend of $0.65 per share, equivalent to a 0.4% yield.
• Analyst sentiment remains positive overall, with a “Moderate Buy” consensus and an average price target of $835.38, although several firms recently lowered their targets. The stock opened at $680.19, well below its 52-week high of $927.85.

International Assets Investment Management LLC lifted its position in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 3,074.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,000 shares of the company's stock after purchasing an additional 19,370 shares during the quarter. International Assets Investment Management LLC owned 0.05% of Casey's General Stores worth $12,169,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Kathmere Capital Management LLC lifted its stake in shares of Casey's General Stores by 3.5% in the 1st quarter. Kathmere Capital Management LLC now owns 387 shares of the company's stock valued at $282,000 after purchasing an additional 13 shares during the period. Lincoln Capital LLC increased its holdings in Casey's General Stores by 4.0% in the second quarter. Lincoln Capital LLC now owns 366 shares of the company's stock valued at $291,000 after buying an additional 14 shares in the last quarter. Jag Capital Management LLC increased its holdings in Casey's General Stores by 1.0% in the first quarter. Jag Capital Management LLC now owns 1,753 shares of the company's stock valued at $1,276,000 after buying an additional 18 shares in the last quarter. Anchor Investment Management LLC increased its holdings in Casey's General Stores by 72.0% in the second quarter. Anchor Investment Management LLC now owns 43 shares of the company's stock valued at $34,000 after buying an additional 18 shares in the last quarter. Finally, Renasant Bank raised its position in shares of Casey's General Stores by 5.7% in the second quarter. Renasant Bank now owns 369 shares of the company's stock worth $293,000 after acquiring an additional 20 shares during the period. 85.63% of the stock is owned by hedge funds and other institutional investors.

Casey's General Stores Stock Performance

NASDAQ:CASY opened at $680.19 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.61 and a current ratio of 1.02. The company has a fifty day moving average of $672.65 and a two-hundred day moving average of $739.73. The stock has a market capitalization of $25.14 billion, a PE ratio of 32.76, a P/E/G 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.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its quarterly earnings data on Tuesday, September 8th. The company reported $7.37 earnings per share (EPS) for the quarter, beating 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 business had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.56 billion. During the same period last year, the firm posted $5.77 earnings per share. The company's revenue was up 24.3% compared to the same quarter last year. As a group, research analysts forecast that Casey's General Stores, Inc. will post 21.61 earnings per share for the current fiscal year.

Casey's General Stores Announces Dividend

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

Analyst Upgrades and Downgrades

CASY has been the topic of several recent analyst reports. Wells Fargo & Company lowered their target price on shares of Casey's General Stores from $960.00 to $750.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 9th. JPMorgan Chase & Co. cut their price target on Casey's General Stores from $975.00 to $833.00 and set a "neutral" rating for the company in a research note on Thursday, September 3rd. UBS Group reduced their price target on Casey's General Stores from $925.00 to $720.00 and set a "neutral" rating for the company in a report on Thursday, September 10th. Evercore reiterated an "outperform" rating and set a $775.00 price target on shares of Casey's General Stores in a research report on Friday, September 11th. Finally, Northcoast Research raised Casey's General Stores from a "neutral" rating to a "buy" rating and set a $950.00 price objective on the stock in a report on Monday, July 13th. Sixteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Casey's General Stores currently has an average rating of "Moderate Buy" and a consensus 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.

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