Park Avenue Securities LLC Invests $828,000 in Casey's General Stores, Inc. $CASY

Key Points

• Park Avenue Securities LLC has invested $828,000 in Casey's General Stores, acquiring 1,622 shares during the second quarter.
• Casey’s General Stores reported a quarterly EPS of $5.77, exceeding analysts' expectations of $5.02, along with an 11.5% increase in revenue year-over-year.
• The company declared a $0.57 quarterly dividend, contributing to an annualized yield of 0.4%, with the payment scheduled for November 14th.

Park Avenue Securities LLC acquired a new position in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,622 shares of the company's stock, valued at approximately $828,000.

Other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP lifted its position in 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 worth $540,081,000 after acquiring an additional 816,110 shares during the period. JPMorgan Chase & Co. lifted its position in 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 acquiring an additional 306,628 shares during the period. Raymond James Financial Inc. lifted its position in Casey's General Stores by 8.9% during the 1st quarter. Raymond James Financial Inc. now owns 649,815 shares of the company's stock worth $282,045,000 after acquiring an additional 52,939 shares during the period. GAMMA Investing LLC lifted its position in Casey's General Stores by 54,448.8% during the 1st quarter. GAMMA Investing LLC now owns 543,852 shares of the company's stock worth $236,054,000 after acquiring an additional 542,855 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Casey's General Stores by 51.5% during the 1st quarter. Bank of New York Mellon Corp now owns 515,603 shares of the company's stock worth $223,792,000 after acquiring an additional 175,372 shares during the period. Institutional investors and hedge funds own 85.63% of the company's stock.

Insider Transactions at Casey's General Stores

In related news, CFO Stephen P. Bramlage, Jr. sold 760 shares of the company's stock in a transaction dated Wednesday, July 2nd. The stock was 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 approximately $13,193,514.64. This represents a 2.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mike Spanos purchased 200 shares of Casey's General Stores stock in a transaction that occurred on Monday, June 30th. The stock was acquired at an average cost of $503.18 per share, with a total value of $100,636.00. Following the acquisition, the director directly owned 3,560 shares in the company, valued at $1,791,320.80. This trade represents a 5.95% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.54% of the company's stock.

Casey's General Stores Stock Performance

NASDAQ CASY opened at $547.54 on Friday. The stock has a 50-day simple moving average of $522.50 and a two-hundred day simple moving average of $482.83. The firm has a market capitalization of $20.36 billion, a P/E ratio of 35.14 and a beta of 0.66. Casey's General Stores, Inc. has a fifty-two week low of $363.00 and a fifty-two week high of $571.57. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.61 and a current ratio of 1.03.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its quarterly earnings results on Monday, September 8th. The company reported $5.77 earnings per share for the quarter, topping analysts' consensus estimates of $5.02 by $0.75. The company had revenue of $4.57 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.83 EPS. On average, equities analysts forecast that Casey's General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey's General Stores Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Saturday, November 1st will be issued a $0.57 dividend. 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 presently 14.63%.

Analyst Upgrades and Downgrades

A number of analysts have commented on CASY shares. Royal Bank Of Canada lifted their price target on Casey's General Stores from $468.00 to $542.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 9th. Wall Street Zen raised Casey's General Stores from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Wells Fargo & Company lifted their price target on Casey's General Stores from $540.00 to $580.00 and gave the stock an "overweight" rating in a research report on Monday, September 8th. The Goldman Sachs Group lifted their price target on Casey's General Stores from $450.00 to $490.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 10th. Finally, Stephens reaffirmed an "overweight" rating and set a $530.00 price target on shares of Casey's General Stores in a research report on Tuesday, September 9th. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average 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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