United Services Automobile Association Takes Position in Casey's General Stores, Inc. $CASY

Key Points

• United Services Automobile Association has purchased 2,409 shares of Casey's General Stores, valued at approximately $1,041,000, marking a new investment in the company.
• Casey's General Stores reported earnings of $5.77 per share for the last quarter, surpassing the consensus estimate of $5.02 by $0.75 and showcasing a revenue increase of 11.5% year-over-year.
• Institutional investors currently own 85.63% of Casey's stock, with several firms significantly increasing their stakes in the first quarter.

United Services Automobile Association acquired a new stake in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,409 shares of the company's stock, valued at approximately $1,041,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. 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. Hedge funds and other institutional investors own 85.63% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Jefferies Financial Group boosted their target price on 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. Wall Street Zen upgraded Casey's General Stores from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Royal Bank Of Canada boosted 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. Wells Fargo & Company boosted their target price on Casey's General Stores from $540.00 to $580.00 and gave the stock an "overweight" rating in a research note on Monday, September 8th. Finally, The Goldman Sachs Group boosted 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. Eight analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Casey's General Stores has a consensus rating of "Moderate Buy" and an average target price of $505.25.

Casey's General Stores Stock Performance

CASY traded down $0.10 during trading on Friday, hitting $553.89. 315,102 shares of the stock were exchanged, compared to its average volume of 365,089. The firm has a market capitalization of $20.59 billion, a P/E ratio of 35.55 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 $559.37. The stock has a fifty day moving average price of $516.25 and a two-hundred day moving average price of $472.88. 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 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 annualized dividend and a yield of 0.4%. Casey's General Stores's payout ratio is 14.63%.

Insider Activity at Casey's General Stores

In other news, insider Chad Michael Frazell sold 4,808 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $503.97, for a total value of $2,423,087.76. Following the transaction, the insider owned 11,480 shares of the company's stock, valued at approximately $5,785,575.60. The trade was a 29.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Darren M. Rebelez sold 20,000 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $507.83, for a total value of $10,156,600.00. Following the completion of the transaction, the chief executive officer directly owned 89,840 shares in the company, valued at approximately $45,623,447.20. The trade was a 18.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,646 shares of company stock valued at $21,634,454 over the last 90 days. 0.54% of the stock is owned by insiders.

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.