Leibman Financial Services Inc. Invests $1.32 Million in Casey's General Stores, Inc. $CASY

Key Points

• Leibman Financial Services Inc. acquired a new position in Casey's General Stores, Inc. during Q2, purchasing 2,579 shares valued at approximately $1.3 million.
• Institutional ownership of Casey's General Stores is high at 85.63%, with significant increases in holdings from firms like Wellington Management and JPMorgan Chase.
• Analysts have raised price targets for Casey's General Stores, with Jefferies increasing their target price to $600 and the consensus rating remaining a "Moderate Buy."

Leibman Financial Services Inc. acquired a new position in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,579 shares of the company's stock, valued at approximately $1,316,000.

Other institutional investors also recently modified their holdings of the company. 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. GAMMA Investing LLC boosted its holdings 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 purchasing an additional 542,855 shares during the period. JPMorgan Chase & Co. boosted its holdings 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 purchasing an additional 306,628 shares during the period. Third Point LLC bought a new stake in Casey's General Stores in the 1st quarter valued at about $130,212,000. Finally, Nuveen LLC bought a new stake in shares of Casey's General Stores during the 1st quarter worth approximately $76,467,000. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on CASY shares. 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 upped their price target on shares of Casey's General Stores from $560.00 to $580.00 and gave the company an "outperform" rating in a research report on Wednesday, September 10th. KeyCorp increased 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 research report on Friday, July 25th. Jefferies Financial Group increased their target price on shares of Casey's General Stores from $575.00 to $600.00 and gave the stock a "buy" rating in a research note on Tuesday, September 9th. Finally, The Goldman Sachs Group increased their target price on shares of Casey's General Stores from $450.00 to $490.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 10th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $520.55.

Casey's General Stores Trading Up 0.6%

Shares of CASY traded up $3.18 during mid-day trading on Friday, reaching $546.89. The company's stock had a trading volume of 594,195 shares, compared to its average volume of 420,680. The stock has a market cap of $20.33 billion, a PE ratio of 35.10 and a beta of 0.66. The company has a current ratio of 1.03, a quick ratio of 0.61 and a debt-to-equity ratio of 0.65. Casey's General Stores, Inc. has a 52 week low of $362.42 and a 52 week high of $571.57. The company's fifty day moving average price is $519.47 and its two-hundred day moving average price is $477.42.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its earnings results on Monday, September 8th. The company reported $5.77 EPS for the quarter, topping the consensus estimate of $5.02 by $0.75. Casey's General Stores had a net margin of 3.54% and a return on equity of 16.73%. The company had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.47 billion. During the same period in the previous year, the firm earned $4.83 earnings per share. The firm's revenue for the quarter was up 11.5% on a year-over-year basis. On average, 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 announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Saturday, November 1st will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, October 31st. Casey's General Stores's payout ratio is presently 14.63%.

Insider Buying and Selling at Casey's General Stores

In related news, Director Mike Spanos acquired 200 shares of Casey's General Stores stock in a transaction on Monday, June 30th. The shares were acquired at an average cost of $503.18 per share, with a total value of $100,636.00. Following the transaction, the director owned 3,560 shares in the company, valued at $1,791,320.80. This trade represents a 5.95% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Stephen P. Bramlage, Jr. sold 760 shares of the business's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $507.56, for a total transaction of $385,745.60. Following the transaction, the chief financial officer directly owned 25,994 shares in the company, valued at approximately $13,193,514.64. The trade was a 2.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is owned by insiders.

About Casey's General Stores

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.