Casey’s General Stores, Inc. $CASY is JLB & Associates Inc.’s 9th Largest Position

JLB & Associates Inc. lifted its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 4.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,797 shares of the company’s stock after buying an additional 1,823 shares during the period. Casey’s General Stores makes up about 3.3% of JLB & Associates Inc.’s holdings, making the stock its 9th biggest holding. JLB & Associates Inc.’s holdings in Casey’s General Stores were worth $23,879,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in Casey’s General Stores by 190.6% during the first quarter. Wellington Management Group LLP now owns 1,244,311 shares of the company’s stock worth $540,081,000 after acquiring an additional 816,110 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Casey’s General Stores by 42.0% during the 1st quarter. JPMorgan Chase & Co. now owns 1,036,426 shares of the company’s stock worth $449,851,000 after purchasing an additional 306,628 shares during the period. Raymond James Financial Inc. grew its holdings in shares of Casey’s General Stores by 8.9% during the 1st quarter. Raymond James Financial Inc. now owns 649,815 shares of the company’s stock worth $282,045,000 after purchasing an additional 52,939 shares during the period. Bank of New York Mellon Corp increased its position in Casey’s General Stores by 51.5% during the 1st quarter. Bank of New York Mellon Corp now owns 515,603 shares of the company’s stock worth $223,792,000 after purchasing an additional 175,372 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Casey’s General Stores by 0.6% in the first quarter. Northern Trust Corp now owns 334,445 shares of the company’s stock valued at $145,163,000 after buying an additional 1,941 shares during the period. Institutional investors and hedge funds own 85.63% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on CASY shares. BMO Capital Markets boosted their price objective on shares of Casey’s General Stores from $515.00 to $540.00 and gave the stock a “market perform” rating in a research note on Wednesday, September 10th. The Goldman Sachs Group lifted their target price on shares of Casey’s General Stores from $450.00 to $490.00 and gave the company a “neutral” rating in a report on Wednesday, September 10th. Wells Fargo & Company increased their price target on Casey’s General Stores from $540.00 to $580.00 and gave the company an “overweight” rating in a report on Monday, September 8th. Evercore ISI raised their price objective on Casey’s General Stores from $560.00 to $580.00 and gave the company an “outperform” rating in a research report on Wednesday, September 10th. Finally, Stephens restated an “overweight” rating and set a $530.00 price objective on shares of Casey’s General Stores in a research note on Tuesday, September 9th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $529.10.

Casey’s General Stores Price Performance

Shares of CASY stock opened at $560.94 on Tuesday. The firm has a fifty day simple moving average of $523.36 and a 200-day simple moving average of $484.67. The company has a market capitalization of $20.86 billion, a PE ratio of 36.00 and a beta of 0.66. Casey’s General Stores, Inc. has a twelve month low of $363.00 and a twelve month high of $571.57. The company has a current ratio of 1.03, a quick ratio of 0.61 and a debt-to-equity ratio of 0.65.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Monday, September 8th. The company reported $5.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.02 by $0.75. Casey’s General Stores had a net margin of 3.54% and a return on equity of 16.73%. The firm had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.47 billion. During the same quarter in the previous year, the firm posted $4.83 EPS. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. Equities research analysts anticipate that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey’s General Stores Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Saturday, November 1st will be paid a $0.57 dividend. The ex-dividend date is Friday, October 31st. This represents a $2.28 annualized dividend and a dividend yield of 0.4%. Casey’s General Stores’s payout ratio is 14.63%.

Insider Buying and Selling

In other news, CFO Stephen P. Bramlage, Jr. sold 760 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $507.56, for a total transaction of $385,745.60. Following the completion of the transaction, the chief financial officer directly owned 25,994 shares in the company, valued at approximately $13,193,514.64. This represents a 2.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate 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.