Casey’s General Stores, Inc. (NASDAQ:CASY) Position Lifted by Samlyn Capital LLC

Samlyn Capital LLC raised its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 63.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 141,743 shares of the company’s stock after acquiring an additional 54,884 shares during the quarter. Samlyn Capital LLC owned approximately 0.38% of Casey’s General Stores worth $54,083,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Park Place Capital Corp bought a new position in Casey’s General Stores during the 2nd quarter valued at $31,000. Innealta Capital LLC bought a new position in Casey’s General Stores during the 2nd quarter valued at $32,000. Rise Advisors LLC bought a new position in Casey’s General Stores during the 1st quarter valued at $30,000. Advisors Asset Management Inc. bought a new position in shares of Casey’s General Stores in the 1st quarter worth about $32,000. Finally, Bank & Trust Co bought a new position in shares of Casey’s General Stores in the 2nd quarter worth about $40,000. 85.63% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Casey’s General Stores

In other news, insider Thomas P. Brennan, Jr. sold 3,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $380.24, for a total transaction of $1,140,720.00. Following the completion of the transaction, the insider now owns 9,044 shares in the company, valued at approximately $3,438,890.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Thomas P. Brennan, Jr. sold 3,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $380.24, for a total transaction of $1,140,720.00. Following the completion of the transaction, the insider now owns 9,044 shares in the company, valued at approximately $3,438,890.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Darren M. Rebelez sold 13,500 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $374.54, for a total transaction of $5,056,290.00. Following the transaction, the chief executive officer now owns 73,838 shares of the company’s stock, valued at approximately $27,655,284.52. The disclosure for this sale can be found here. 0.47% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CASY. JPMorgan Chase & Co. downgraded shares of Casey’s General Stores from a “neutral” rating to an “underweight” rating and raised their price target for the stock from $300.00 to $337.00 in a research report on Thursday, September 19th. Jefferies Financial Group raised their price target on shares of Casey’s General Stores from $342.00 to $445.00 and gave the stock a “buy” rating in a research report on Wednesday, June 12th. Benchmark restated a “buy” rating and issued a $410.00 price target on shares of Casey’s General Stores in a research report on Tuesday, September 10th. Royal Bank of Canada raised their price target on shares of Casey’s General Stores from $393.00 to $403.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 5th. Finally, Northcoast Research upgraded shares of Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $410.00 price target on the stock in a research report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, Casey’s General Stores currently has an average rating of “Moderate Buy” and a consensus price target of $407.64.

Casey’s General Stores Stock Up 2.7 %

CASY stock opened at $377.94 on Tuesday. The stock has a market cap of $14.03 billion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 2.58 and a beta of 0.80. The company has a quick ratio of 0.44, a current ratio of 0.84 and a debt-to-equity ratio of 0.44. The firm’s 50-day simple moving average is $374.26 and its 200 day simple moving average is $348.54. Casey’s General Stores, Inc. has a fifty-two week low of $260.13 and a fifty-two week high of $401.07.

Casey’s General Stores (NASDAQ:CASY) last released its earnings results on Wednesday, September 4th. The company reported $4.83 EPS for the quarter, beating the consensus estimate of $4.54 by $0.29. The firm had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.15 billion. Casey’s General Stores had a net margin of 3.40% and a return on equity of 17.07%. Casey’s General Stores’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the company earned $4.52 EPS. As a group, sell-side analysts predict that Casey’s General Stores, Inc. will post 14.15 EPS 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 15th. Shareholders of record on Friday, November 1st will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $2.00 annualized dividend and a yield of 0.53%. Casey’s General Stores’s payout ratio is 14.89%.

About Casey’s General Stores

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. Its stores offer pizza, donuts, breakfast items, and sandwiches; and tobacco and nicotine products. The company's stores provide soft drinks, energy, water, sports drinks, juices, coffee, and tea and dairy products; beer, wine, and spirits; snacks, candy, packaged bakery, and other food items; ice, ice cream, meals, and appetizers; health and beauty aids, automotive products, electronic accessories, housewares, and pet supplies; and ATM, lotto/lottery, and prepaid cards.