Jump Financial LLC Acquires New Holdings in Casey's General Stores, Inc. $CASY

Key Points

• Jump Financial LLC recently invested $295,000 in Casey's General Stores by acquiring 679 shares, highlighting increased institutional interest in the stock.
• Casey's reported earnings of $2.63 per share, surpassing analysts' expectations of $1.94, along with a substantial revenue of $3.99 billion for the quarter.
• Several analysts have raised their price targets for Casey's shares, with Royal Bank of Canada setting a new target at $542.00, reflecting optimistic sentiment among market experts.

Jump Financial LLC purchased a new stake in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 679 shares of the company's stock, valued at approximately $295,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Wellington Management Group LLP grew its stake in Casey's General Stores by 190.6% in the 1st quarter. Wellington Management Group LLP now owns 1,244,311 shares of the company's stock valued at $540,081,000 after buying an additional 816,110 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Casey's General Stores by 42.0% in the 1st quarter. JPMorgan Chase & Co. now owns 1,036,426 shares of the company's stock valued at $449,851,000 after buying an additional 306,628 shares during the last quarter. Raymond James Financial Inc. grew 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 buying an additional 52,939 shares during the last quarter. GAMMA Investing LLC grew its stake in Casey's General Stores by 54,448.8% in the 1st quarter. GAMMA Investing LLC now owns 543,852 shares of the company's stock valued at $236,054,000 after buying an additional 542,855 shares during the last quarter. Finally, Bank of New York Mellon Corp grew 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 buying an additional 175,372 shares during the last quarter. Institutional investors and hedge funds own 85.63% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CASY shares. BMO Capital Markets boosted their price objective on shares of Casey's General Stores from $450.00 to $515.00 and gave the company a "market perform" rating in a report on Wednesday, June 11th. Royal Bank Of Canada boosted their price objective on shares of Casey's General Stores from $468.00 to $542.00 and gave the company a "sector perform" rating in a report on Wednesday, July 9th. 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. Stephens reissued an "overweight" rating and issued a $490.00 price objective on shares of Casey's General Stores in a report on Tuesday, June 10th. Finally, KeyCorp boosted their price objective on shares of Casey's General Stores from $550.00 to $575.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Eight equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Casey's General Stores presently has a consensus rating of "Moderate Buy" and an average target price of $467.33.

Casey's General Stores Price Performance

Shares of Casey's General Stores stock traded up $7.46 on Friday, reaching $505.64. 279,698 shares of the stock were exchanged, compared to its average volume of 212,510. The firm's 50 day moving average is $513.38 and its 200-day moving average is $468.06. Casey's General Stores, Inc. has a one year low of $362.42 and a one year high of $531.24. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.48 and a current ratio of 0.92. The firm has a market cap of $18.80 billion, a PE ratio of 34.54 and a beta of 0.66.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its quarterly earnings results on Monday, June 9th. The company reported $2.63 earnings per share for the quarter, topping analysts' consensus estimates of $1.94 by $0.69. Casey's General Stores had a net margin of 3.43% and a return on equity of 16.28%. The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.95 billion. During the same quarter in the prior year, the firm posted $2.34 EPS. The firm's quarterly revenue was up 10.9% on a year-over-year basis. As a group, analysts anticipate that Casey's General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Insider Activity at Casey's General Stores

In related news, CFO Stephen P. Bramlage, Jr. sold 760 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $507.56, for a total value of $385,745.60. Following the completion of the transaction, the chief financial officer owned 25,994 shares of the company's stock, valued at $13,193,514.64. This represents a 2.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Chad Michael Frazell sold 4,808 shares of the stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $503.97, for a total transaction of $2,423,087.76. Following the completion of the transaction, the insider directly owned 11,480 shares of the company's stock, valued at approximately $5,785,575.60. The trade was a 29.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,646 shares of company stock worth $22,136,614 in the last 90 days. Corporate insiders own 0.54% of the company's stock.

Casey's General Stores Company 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.