Jennison Associates LLC Invests $14.89 Million in Casey’s General Stores, Inc. $CASY

Jennison Associates LLC acquired a new position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 29,175 shares of the company’s stock, valued at approximately $14,887,000. Jennison Associates LLC owned about 0.08% of Casey’s General Stores at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP boosted its stake in Casey’s General Stores by 190.6% during the 1st 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. boosted its stake in 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 acquiring an additional 306,628 shares during the last quarter. Raymond James Financial Inc. boosted its stake in 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 acquiring an additional 52,939 shares during the last quarter. Bank of New York Mellon Corp boosted its stake 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 acquiring an additional 175,372 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Casey’s General Stores by 9.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 448,919 shares of the company’s stock worth $229,070,000 after acquiring an additional 37,625 shares during the last quarter. Institutional investors own 85.63% of the company’s stock.

Analyst Ratings Changes

CASY has been the topic of several recent analyst reports. Evercore ISI lifted their price objective on shares of Casey’s General Stores from $580.00 to $585.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. Wells Fargo & Company assumed coverage on shares of Casey’s General Stores in a research note on Wednesday, October 15th. They issued an “overweight” rating and a $610.00 price target on the stock. BMO Capital Markets lifted 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 note on Wednesday, September 10th. Zacks Research raised shares of Casey’s General Stores from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. Finally, Royal Bank Of Canada lifted their price target on shares of Casey’s General Stores from $468.00 to $542.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $536.60.

Insiders Place Their Bets

In related news, insider Chad Michael Frazell sold 3,487 shares of the business’s stock in a transaction 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 directly owned 7,993 shares in the company, valued at approximately $4,439,312.20. The trade was a 30.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.54% of the company’s stock.

Casey’s General Stores Stock Performance

Shares of CASY stock opened at $513.19 on Friday. The company’s fifty day simple moving average is $538.93 and its 200-day simple moving average is $505.08. The company has a quick ratio of 0.61, a current ratio of 1.03 and a debt-to-equity ratio of 0.65. The firm has a market cap of $19.08 billion, a PE ratio of 32.94 and a beta of 0.68. Casey’s General Stores, Inc. has a 12 month low of $372.08 and a 12 month high of $572.18.

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

Casey’s General Stores Announces Dividend

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

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.