Janney Montgomery Scott LLC Has $9.65 Million Stock Holdings in Casey's General Stores, Inc. $CASY

Key Points

• Janney Montgomery Scott LLC increased its holdings in Casey's General Stores by 255%, now owning approximately $9.65 million worth of stock.
• Insider Chad Michael Frazell sold 3,487 shares of Casey's stock for nearly $1.94 million, representing a 30.37% reduction in their stake.
• Casey’s recent earnings report showed an earnings per share of $5.77, exceeding analysts' expectations, with revenue of $4.57 billion, marking an 11.5% year-over-year increase.

Janney Montgomery Scott LLC boosted its position in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 255.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,920 shares of the company's stock after buying an additional 13,591 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.05% of Casey's General Stores worth $9,654,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Wellington Management Group LLP raised its position in shares of Casey's General Stores by 190.6% during the 1st quarter. Wellington Management Group LLP now owns 1,244,311 shares of the company's stock valued at $540,081,000 after acquiring an additional 816,110 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Casey's General Stores by 42.0% during the 1st quarter. JPMorgan Chase & Co. now owns 1,036,426 shares of the company's stock worth $449,851,000 after buying an additional 306,628 shares during the last quarter. Raymond James Financial Inc. lifted its stake in Casey's General Stores by 8.9% in the 1st quarter. Raymond James Financial Inc. now owns 649,815 shares of the company's stock valued at $282,045,000 after purchasing an additional 52,939 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Casey's General Stores by 51.5% in the 1st quarter. Bank of New York Mellon Corp now owns 515,603 shares of the company's stock valued at $223,792,000 after purchasing an additional 175,372 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Casey's General Stores by 0.6% in the 1st quarter. Northern Trust Corp now owns 334,445 shares of the company's stock valued at $145,163,000 after acquiring an additional 1,941 shares during the period. Institutional investors own 85.63% of the company's stock.

Insider Transactions at Casey's General Stores

In other Casey's General Stores news, insider Chad Michael Frazell sold 3,487 shares of the firm's stock in a transaction on Monday, September 29th. The shares were sold at an average price of $555.40, for a total value of $1,936,679.80. Following the sale, the insider owned 7,993 shares of the company's stock, valued at $4,439,312.20. This trade represents a 30.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.54% of the stock is currently owned by company insiders.

Casey's General Stores Stock Performance

NASDAQ CASY opened at $567.48 on Friday. The company's 50 day simple moving average is $526.40 and its two-hundred day simple moving average is $488.70. The stock has a market capitalization of $21.10 billion, a PE ratio of 36.42 and a beta of 0.68. Casey's General Stores, Inc. has a 1 year low of $366.00 and a 1 year high of $571.57. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.03 and a quick ratio of 0.61.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its quarterly earnings results on Monday, September 8th. The company reported $5.77 EPS for the quarter, topping analysts' consensus estimates of $5.02 by $0.75. The firm had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.47 billion. Casey's General Stores had a net margin of 3.54% and a return on equity of 16.73%. The business's revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.83 EPS. Analysts predict that Casey's General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey's General Stores Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Saturday, November 1st will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Friday, October 31st. Casey's General Stores's dividend payout ratio (DPR) is 14.63%.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Wall Street Zen raised shares of Casey's General Stores from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Evercore ISI lifted their price target on shares of Casey's General Stores from $560.00 to $580.00 and gave the stock an "outperform" rating in a report on Wednesday, September 10th. The Goldman Sachs Group boosted their target price 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. BMO Capital Markets upped their price objective on shares of Casey's General Stores from $515.00 to $540.00 and gave the company a "market perform" rating in a report on Wednesday, September 10th. Finally, KeyCorp boosted their target price on shares of Casey's General Stores from $550.00 to $575.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Eight 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, the stock has an average rating of "Moderate Buy" and a consensus price target of $529.10.

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.

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