JPMorgan Chase & Co. Purchases 119,350 Shares of Casey’s General Stores, Inc. (NASDAQ:CASY)

JPMorgan Chase & Co. increased its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 18.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 758,804 shares of the company’s stock after acquiring an additional 119,350 shares during the period. JPMorgan Chase & Co. owned approximately 2.04% of Casey’s General Stores worth $285,090,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC bought a new position in shares of Casey’s General Stores in the third quarter worth $959,880,000. Millennium Management LLC grew its position in Casey’s General Stores by 3,846.1% during the second quarter. Millennium Management LLC now owns 172,320 shares of the company’s stock worth $65,750,000 after buying an additional 176,920 shares in the last quarter. Franklin Resources Inc. increased its stake in Casey’s General Stores by 49.9% in the 3rd quarter. Franklin Resources Inc. now owns 524,237 shares of the company’s stock worth $204,861,000 after acquiring an additional 174,586 shares during the last quarter. Benjamin Edwards Inc. raised its holdings in shares of Casey’s General Stores by 1,819.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 130,291 shares of the company’s stock valued at $48,959,000 after acquiring an additional 123,502 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Casey’s General Stores by 281.4% in the 3rd quarter. Wellington Management Group LLP now owns 164,656 shares of the company’s stock valued at $61,863,000 after acquiring an additional 121,488 shares in the last quarter. Institutional investors own 85.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CASY. Royal Bank of Canada boosted their price objective on Casey’s General Stores from $403.00 to $428.00 and gave the stock a “sector perform” rating in a report on Tuesday, December 10th. StockNews.com lowered shares of Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a report on Friday, December 13th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Casey’s General Stores from $451.00 to $454.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. BMO Capital Markets reissued a “market perform” rating and issued a $450.00 target price (up previously from $400.00) on shares of Casey’s General Stores in a research note on Wednesday, December 18th. Finally, Evercore ISI raised their price target on Casey’s General Stores from $460.00 to $470.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $424.00.

Casey’s General Stores Trading Down 0.4 %

Shares of CASY stock opened at $403.98 on Monday. The business has a 50-day moving average of $409.49 and a 200 day moving average of $387.35. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.88 and a quick ratio of 0.44. Casey’s General Stores, Inc. has a 1-year low of $268.07 and a 1-year high of $439.68. The stock has a market capitalization of $14.99 billion, a PE ratio of 28.15 and a beta of 0.80.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings data on Monday, December 9th. The company reported $4.85 earnings per share for the quarter, beating analysts’ consensus estimates of $4.29 by $0.56. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. The firm had revenue of $3.95 billion during the quarter, compared to analyst estimates of $4.03 billion. During the same quarter in the prior year, the firm posted $4.24 earnings per share. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Casey’s General Stores, Inc. will post 14.28 earnings per share for the current year.

Casey’s General Stores Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 17th. Shareholders of record on Monday, February 3rd will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend is Monday, February 3rd. Casey’s General Stores’s payout ratio is 13.94%.

Insider Buying and Selling at Casey’s General Stores

In other Casey’s General Stores news, Director Mike Spanos purchased 500 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was bought at an average price of $396.76 per share, with a total value of $198,380.00. Following the completion of the purchase, the director now directly owns 3,097 shares of the company’s stock, valued at $1,228,765.72. The trade was a 19.25 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Katrina S. Lindsey sold 450 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $427.13, for a total transaction of $192,208.50. Following the transaction, the insider now directly owns 2,247 shares in the company, valued at approximately $959,761.11. The trade was a 16.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.56% of the company’s stock.

Casey’s General Stores Profile

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.