PEAK6 LLC Takes Position in Casey’s General Stores, Inc. $CASY

PEAK6 LLC purchased a new position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) in the second quarter, Holdings Channel.com reports. The fund purchased 3,925 shares of the company’s stock, valued at approximately $3,119,000.

Other institutional investors have also recently made changes to their positions in the company. Kathmere Capital Management LLC grew its position in Casey’s General Stores by 3.5% in the first quarter. Kathmere Capital Management LLC now owns 387 shares of the company’s stock worth $282,000 after acquiring an additional 13 shares during the period. Pinnacle Bancorp Inc. increased its stake in Casey’s General Stores by 4.8% during the first quarter. Pinnacle Bancorp Inc. now owns 303 shares of the company’s stock worth $221,000 after acquiring an additional 14 shares during the last quarter. Lincoln Capital LLC raised its position in Casey’s General Stores by 4.0% in the second quarter. Lincoln Capital LLC now owns 366 shares of the company’s stock valued at $291,000 after purchasing an additional 14 shares during the period. Menard Financial Group LLC raised its position in Casey’s General Stores by 1.2% in the fourth quarter. Menard Financial Group LLC now owns 1,267 shares of the company’s stock valued at $700,000 after purchasing an additional 15 shares during the period. Finally, Cibc World Market Inc. lifted its stake in shares of Casey’s General Stores by 0.3% in the 4th quarter. Cibc World Market Inc. now owns 5,136 shares of the company’s stock valued at $2,839,000 after purchasing an additional 16 shares during the last quarter. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Stock Performance

Shares of Casey’s General Stores stock opened at $835.74 on Monday. Casey’s General Stores, Inc. has a 1 year low of $490.00 and a 1 year high of $927.85. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 1.01. The company has a market capitalization of $30.93 billion, a P/E ratio of 43.62, a PEG ratio of 2.86 and a beta of 0.61. The company’s fifty day moving average is $837.28 and its two-hundred day moving average is $776.94.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $3.31 by $1.06. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. The business had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.33 billion. During the same period in the prior year, the company earned $2.63 earnings per share. The business’s revenue was up 14.5% compared to the same quarter last year. Analysts forecast that Casey’s General Stores, Inc. will post 21.11 earnings per share for the current year.

Casey’s General Stores Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Saturday, August 1st were given a $0.65 dividend. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.57. The ex-dividend date was Friday, July 31st. This represents a $2.60 annualized dividend and a yield of 0.3%. Casey’s General Stores’s payout ratio is presently 13.57%.

Insider Activity

In related news, CEO Darren M. Rebelez sold 19,000 shares of the stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $801.46, for a total transaction of $15,227,740.00. Following the completion of the transaction, the chief executive officer directly owned 89,174 shares of the company’s stock, valued at $71,469,394.04. This represents a 17.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Chad Michael Frazell sold 3,013 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $787.49, for a total transaction of $2,372,707.37. Following the completion of the sale, the insider owned 9,823 shares of the company’s stock, valued at approximately $7,735,514.27. The trade was a 23.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 30,243 shares of company stock worth $24,421,877 over the last quarter. 0.67% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. KeyCorp increased their price target on Casey’s General Stores from $950.00 to $970.00 and gave the stock an “overweight” rating in a report on Thursday, June 11th. The Goldman Sachs Group boosted their price objective on shares of Casey’s General Stores from $695.00 to $795.00 and gave the company a “neutral” rating in a report on Thursday, June 25th. UBS Group increased their target price on shares of Casey’s General Stores from $805.00 to $945.00 and gave the stock a “neutral” rating in a research note on Thursday, June 11th. Wells Fargo & Company lifted their price target on shares of Casey’s General Stores from $910.00 to $960.00 and gave the company an “overweight” rating in a research report on Thursday, June 11th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $913.00 price target on shares of Casey’s General Stores in a research note on Wednesday, July 29th. Fourteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $944.20.

About Casey’s General Stores

Casey’s General Stores, Inc (NASDAQ: CASY) is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.