Orser Capital Management LLC Buys 1,949 Shares of Casey's General Stores, Inc. $CASY

Key Points

• Orser Capital Management LLC increased its stake in Casey's General Stores by 95.5% to own a total of 3,989 shares, making it the firm's 22nd largest position.
• Casey's General Stores reported a quarterly EPS of $5.77, exceeding estimates by $0.75, alongside a revenue of $4.57 billion, up 11.5% year-over-year.
• The company declared a quarterly dividend of $0.57 per share, which will be paid on November 14th, representing an annual yield of 0.4%.

Orser Capital Management LLC grew its stake in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 95.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,989 shares of the company's stock after acquiring an additional 1,949 shares during the period. Casey's General Stores accounts for approximately 1.5% of Orser Capital Management LLC's holdings, making the stock its 22nd largest position. Orser Capital Management LLC's holdings in Casey's General Stores were worth $2,035,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Wellington Management Group LLP lifted 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 purchasing an additional 816,110 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Casey's General Stores by 42.0% in the first 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 in the last quarter. Raymond James Financial Inc. raised its position in shares of Casey's General Stores by 8.9% in the first 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 in the last quarter. GAMMA Investing LLC raised its position in shares of Casey's General Stores by 54,448.8% in the first 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 in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Casey's General Stores by 51.5% in the first 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 in the last quarter. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Royal Bank Of Canada upped their target price on Casey's General Stores from $468.00 to $542.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 9th. Stephens restated an "overweight" rating and set a $530.00 target price on shares of Casey's General Stores in a research note on Tuesday, September 9th. KeyCorp upped their target price on Casey's General Stores from $550.00 to $575.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. The Goldman Sachs Group upped their target price on 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. Finally, Wall Street Zen upgraded shares of Casey's General Stores from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Eight equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $505.25.

Casey's General Stores Stock Performance

NASDAQ CASY opened at $554.91 on Tuesday. The company has a market capitalization of $20.63 billion, a price-to-earnings ratio of 35.62 and a beta of 0.66. Casey's General Stores, Inc. has a twelve month low of $362.42 and a twelve month high of $562.97. The stock has a fifty day simple moving average of $516.83 and a 200 day simple moving average of $473.86. The company has a quick ratio of 0.61, a current ratio of 1.03 and a debt-to-equity ratio of 0.65.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its quarterly earnings data on Monday, September 8th. The company reported $5.77 earnings per share for the quarter, beating analysts' consensus estimates of $5.02 by $0.75. The business had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.47 billion. Casey's General Stores had a return on equity of 16.73% and a net margin of 3.54%.Casey's General Stores's quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the business posted $4.83 earnings per share. Sell-side analysts expect that Casey's General Stores, Inc. will post 13.94 EPS for the current 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 given a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a $2.28 dividend on an annualized basis and a yield of 0.4%. Casey's General Stores's dividend payout ratio is 14.63%.

Insiders Place Their Bets

In other news, CFO Stephen P. Bramlage, Jr. sold 760 shares of the stock in a transaction dated 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mike Spanos acquired 200 shares of the business's stock in a transaction dated Monday, June 30th. The shares were bought at an average cost of $503.18 per share, for a total transaction of $100,636.00. Following the transaction, the director directly owned 3,560 shares in the company, valued at approximately $1,791,320.80. This represents a 5.95% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.54% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.