Jefferies Financial Group Inc. Makes New Investment in Casey's General Stores, Inc. $CASY

Jefferies Financial Group Inc. acquired a new stake in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 19,016 shares of the company's stock, valued at approximately $15,114,000. Jefferies Financial Group Inc. owned approximately 0.05% of Casey's General Stores at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Casey's General Stores during the 2nd quarter valued at about $2,759,895,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Casey's General Stores by 179,938.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,659,164 shares of the company's stock valued at $1,469,747,000 after purchasing an additional 2,657,687 shares in the last quarter. Norges Bank bought a new position in shares of Casey's General Stores in the fourth quarter valued at approximately $265,163,000. Bank of America Corp DE purchased a new position in shares of Casey's General Stores during the second quarter valued at approximately $281,872,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Casey's General Stores during the second quarter valued at approximately $281,011,000. 85.63% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CASY shares. Wall Street Zen raised Casey's General Stores from a "hold" rating to a "buy" rating in a research report on Saturday, June 13th. Stephens set a $975.00 price objective on shares of Casey's General Stores and gave the stock an "overweight" rating in a report on Friday, June 12th. BNP Paribas Exane dropped their price target on shares of Casey's General Stores from $1,032.00 to $995.00 and set an "outperform" rating on the stock in a research report on Thursday, June 25th. Wolfe Research restated an "outperform" rating and set a $1,069.00 price target on shares of Casey's General Stores in a report on Thursday, June 11th. Finally, Capital One Financial began coverage on Casey's General Stores in a research note on Monday, June 22nd. They issued an "equal weight" rating and a $896.00 target price on the stock. Fourteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Casey's General Stores presently has an average rating of "Moderate Buy" and a consensus price target of $942.87.

Casey's General Stores Stock Down 5.4%

Shares of NASDAQ CASY opened at $763.38 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.60. The stock has a market capitalization of $28.25 billion, a PE ratio of 39.84, a P/E/G ratio of 2.76 and a beta of 0.61. Casey's General Stores, Inc. has a one year low of $490.00 and a one year high of $927.85. The business's fifty day moving average price is $833.65 and its 200-day moving average price is $781.50.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, topping the consensus estimate of $3.31 by $1.06. Casey's General Stores had a return on equity of 18.73% and a net margin of 4.07%.The company had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.33 billion. During the same quarter last year, the firm posted $2.63 EPS. The firm's revenue for the quarter was up 14.5% on a year-over-year basis. On average, equities research analysts anticipate that Casey's General Stores, Inc. will post 21.11 EPS for the current year.

Casey's General Stores Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Saturday, August 1st were paid a $0.65 dividend. The ex-dividend date was Friday, July 31st. This is a positive change from Casey's General Stores's previous quarterly dividend of $0.57. This represents a $2.60 annualized dividend and a dividend yield of 0.3%. Casey's General Stores's dividend payout ratio is 13.57%.

Insider Transactions at Casey's General Stores

In related news, insider Katrina S. Lindsey sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $800.00, for a total value of $1,600,000.00. Following the completion of the transaction, the insider directly owned 6,668 shares of the company's stock, valued at approximately $5,334,400. This trade represents a 23.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Allison M. Wing sold 530 shares of Casey's General Stores stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $837.58, for a total transaction of $443,917.40. Following the completion of the transaction, the director owned 3,042 shares of the company's stock, valued at $2,547,918.36. This represents a 14.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 30,243 shares of company stock valued at $24,421,877. 0.67% of the stock is currently owned by insiders.

Casey's General Stores Profile

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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