Soros Capital Management LLC Has $14.05 Million Stock Holdings in Casey's General Stores, Inc. $CASY

Key Points

• Soros Capital Management LLC reduced its stake in Casey's General Stores by 29.9% during the first quarter, now holding approximately $14.05 million in stock, accounting for 3.6% of its portfolio.
• Casey's General Stores reported a stellar quarterly earnings of $2.63 EPS, surpassing analyst expectations, with a notable revenue of $3.99 billion for the quarter.
• The company also announced an increase in its quarterly dividend from $0.50 to $0.57 per share, reflecting strong financial health with a low dividend payout ratio of 15.57%.

Soros Capital Management LLC decreased its position in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 29.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,363 shares of the company's stock after selling 13,833 shares during the quarter. Casey's General Stores makes up approximately 3.6% of Soros Capital Management LLC's portfolio, making the stock its 12th largest position. Soros Capital Management LLC owned about 0.09% of Casey's General Stores worth $14,047,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc purchased a new stake in Casey's General Stores during the first quarter worth about $25,000. Global Financial Private Client LLC boosted its position in Casey's General Stores by 325.0% during the first quarter. Global Financial Private Client LLC now owns 68 shares of the company's stock worth $30,000 after purchasing an additional 52 shares during the period. Summit Securities Group LLC bought a new position in Casey's General Stores during the first quarter worth about $32,000. Iron Horse Wealth Management LLC boosted its position in Casey's General Stores by 40.0% during the first quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company's stock worth $40,000 after purchasing an additional 26 shares during the period. Finally, Whipplewood Advisors LLC boosted its position in Casey's General Stores by 160.0% during the first quarter. Whipplewood Advisors LLC now owns 117 shares of the company's stock worth $51,000 after purchasing an additional 72 shares during the period. Institutional investors own 85.63% of the company's stock.

Insider Buying and Selling at Casey's General Stores

In related news, 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 value of $2,423,087.76. Following the completion of the sale, the insider directly owned 11,480 shares of the company's stock, valued at approximately $5,785,575.60. This represents a 29.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Stephen P. Bramlage, Jr. sold 8,478 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $509.21, for a total transaction of $4,317,082.38. Following the completion of the sale, the chief financial officer directly owned 26,754 shares of the company's stock, valued at $13,623,404.34. This represents a 24.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,646 shares of company stock worth $22,136,614. 0.54% of the stock is owned by company insiders.

Casey's General Stores Stock Down 1.4%

Shares of NASDAQ CASY opened at $503.26 on Monday. The company has a quick ratio of 0.48, a current ratio of 0.92 and a debt-to-equity ratio of 0.69. Casey's General Stores, Inc. has a 52 week low of $350.52 and a 52 week high of $531.24. The firm's fifty day moving average is $515.09 and its 200 day moving average is $463.66. The company has a market cap of $18.71 billion, a price-to-earnings ratio of 34.38 and a beta of 0.69.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its quarterly earnings data on Monday, June 9th. The company reported $2.63 earnings per share (EPS) for the quarter, beating 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 business had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.95 billion. During the same period in the previous year, the firm earned $2.34 EPS. The company's quarterly revenue was up 10.9% compared to the same quarter last year. On average, equities research analysts expect that Casey's General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey's General Stores Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were paid a dividend of $0.57 per share. The ex-dividend date was Friday, August 1st. This represents a $2.28 annualized dividend and a yield of 0.5%. This is an increase from Casey's General Stores's previous quarterly dividend of $0.50. Casey's General Stores's dividend payout ratio (DPR) is currently 15.57%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group raised their price objective on shares of Casey's General Stores from $385.00 to $450.00 and gave the company a "neutral" rating in a research report on Wednesday, June 11th. KeyCorp lifted their target price on shares of Casey's General Stores from $550.00 to $575.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. BMO Capital Markets lifted their target price on shares of Casey's General Stores from $450.00 to $515.00 and gave the company a "market perform" rating in a research report on Wednesday, June 11th. Royal Bank Of Canada lifted their target price on shares of Casey's General Stores from $468.00 to $542.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 9th. Finally, Wells Fargo & Company lifted their target price on shares of Casey's General Stores from $460.00 to $540.00 and gave the company an "overweight" rating in a research report on Wednesday, June 11th. Eight 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. According to MarketBeat.com, Casey's General Stores currently has an average rating of "Moderate Buy" and a consensus target price of $467.33.

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.

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