Casey’s General Stores, Inc. $CASY Shares Acquired by LGT Fund Management Co Ltd.

LGT Fund Management Co Ltd. boosted its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 28.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,500 shares of the company’s stock after buying an additional 1,000 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in Casey’s General Stores were worth $2,296,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CASY. Wellington Management Group LLP grew its position 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 buying an additional 816,110 shares during the period. JPMorgan Chase & Co. grew its position in Casey’s General Stores by 42.0% during the first quarter. JPMorgan Chase & Co. now owns 1,036,426 shares of the company’s stock worth $449,851,000 after buying an additional 306,628 shares during the period. Third Point LLC acquired a new position in Casey’s General Stores during the first quarter worth about $130,212,000. Nuveen LLC acquired a new position in Casey’s General Stores during the first quarter worth about $76,467,000. Finally, Bank of New York Mellon Corp grew its position in Casey’s General Stores by 51.5% during the first quarter. Bank of New York Mellon Corp now owns 515,603 shares of the company’s stock worth $223,792,000 after buying an additional 175,372 shares during the period. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Casey’s General Stores Stock Performance

Shares of CASY opened at $567.48 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.61 and a current ratio of 1.03. The company has a market capitalization of $21.10 billion, a price-to-earnings ratio of 36.42 and a beta of 0.68. The company’s 50 day simple moving average is $526.40 and its 200 day simple moving average is $488.11. Casey’s General Stores, Inc. has a 1 year low of $366.00 and a 1 year high of $571.57.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Monday, September 8th. The company reported $5.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.02 by $0.75. The business had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.47 billion. Casey’s General Stores had a net margin of 3.54% and a return on equity of 16.73%. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.83 earnings per share. On average, sell-side analysts predict that Casey’s General Stores, Inc. will post 13.94 EPS for the current year.

Casey’s General Stores Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Saturday, November 1st will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a $2.28 dividend on an annualized basis and a yield of 0.4%. Casey’s General Stores’s dividend payout ratio (DPR) is currently 14.63%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Wells Fargo & Company increased their price target on shares of Casey’s General Stores from $540.00 to $580.00 and gave the company an “overweight” rating in a research report on Monday, September 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Casey’s General Stores in a research report on Saturday, September 27th. Wall Street Zen upgraded shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Saturday, June 14th. Jefferies Financial Group increased their price target on shares of Casey’s General Stores from $575.00 to $600.00 and gave the company a “buy” rating in a research report on Tuesday, September 9th. Finally, BMO Capital Markets increased their price target on shares of Casey’s General Stores from $515.00 to $540.00 and gave the company 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $529.10.

Insiders Place Their Bets

In other Casey’s General Stores news, insider Chad Michael Frazell sold 3,487 shares of the stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $555.40, for a total transaction of $1,936,679.80. Following the transaction, the insider owned 7,993 shares of the company’s stock, valued at $4,439,312.20. This trade represents a 30.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

Casey’s General Stores 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.