Casey's General Stores, Inc. $CASY Shares Bought by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS Asset Management increased its holdings in Casey's General Stores by 7.2%, acquiring an additional 7,761 shares, bringing its total to 115,674 shares valued at approximately $50.2 million.
• Insider activity included CEO Darren M. Rebelez selling 20,000 shares for over $10 million, marking an 18.21% decrease in his ownership stake.'
• Casey's reported strong quarterly earnings of $5.77 EPS, surpassing expectations, with a revenue of $4.57 billion, up 11.5% year-over-year.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 7.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 115,674 shares of the company's stock after acquiring an additional 7,761 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.31% of Casey's General Stores worth $50,207,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CASY. Versant Capital Management Inc purchased a new position in shares of Casey's General Stores in the 1st quarter valued at about $25,000. Global Financial Private Client LLC boosted its stake in shares of Casey's General Stores by 325.0% in the 1st quarter. Global Financial Private Client LLC now owns 68 shares of the company's stock valued at $30,000 after buying an additional 52 shares during the period. Summit Securities Group LLC purchased a new position in shares of Casey's General Stores in the 1st quarter valued at about $32,000. Iron Horse Wealth Management LLC boosted its stake in shares of Casey's General Stores by 40.0% in the 1st quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company's stock valued at $40,000 after buying an additional 26 shares during the period. Finally, WPG Advisers LLC purchased a new position in shares of Casey's General Stores in the 1st quarter valued at about $47,000. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Casey's General Stores Stock Performance

CASY traded up $3.18 during trading on Friday, hitting $546.89. 594,195 shares of the stock were exchanged, compared to its average volume of 420,680. The firm has a market capitalization of $20.33 billion, a P/E ratio of 35.10 and a beta of 0.66. Casey's General Stores, Inc. has a 1-year low of $362.42 and a 1-year high of $571.57. The stock has a fifty day moving average price of $519.47 and a two-hundred day moving average price of $476.92. 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 released its quarterly 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. The company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.47 billion. Casey's General Stores had a return on equity of 16.73% and a net margin of 3.54%.The firm's revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.83 earnings per share. As a group, sell-side analysts predict that Casey's General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey's General Stores Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders 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 is Friday, October 31st. Casey's General Stores's dividend payout ratio (DPR) is 14.63%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CASY shares. Evercore ISI lifted their price objective on Casey's General Stores from $560.00 to $580.00 and gave the company an "outperform" rating in a research note on Wednesday, September 10th. Wall Street Zen raised Casey's General Stores from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Royal Bank Of Canada raised 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 report on Wednesday, July 9th. Jefferies Financial Group raised their target price on Casey's General Stores from $575.00 to $600.00 and gave the stock a "buy" rating in a research report on Tuesday, September 9th. Finally, BMO Capital Markets raised their target price on Casey's General Stores from $515.00 to $540.00 and gave the stock a "market perform" rating in a research report on Wednesday, September 10th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $520.55.

Insider Activity at Casey's General Stores

In other Casey's General Stores news, CFO Stephen P. Bramlage, Jr. sold 760 shares of Casey's General Stores stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $507.56, for a total value 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. This trade represents a 2.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mike Spanos purchased 200 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The stock was acquired at an average price of $503.18 per share, for a total transaction of $100,636.00. Following the completion of the purchase, the director owned 3,560 shares of the company's stock, 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. Company 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.