Grandview Asset Management LLC Boosts Holdings in Casey’s General Stores, Inc. $CASY

Grandview Asset Management LLC increased its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 13.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,477 shares of the company’s stock after acquiring an additional 179 shares during the quarter. Grandview Asset Management LLC’s holdings in Casey’s General Stores were worth $754,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Wellington Management Group LLP raised its stake in shares of Casey’s General Stores by 190.6% in the 1st quarter. Wellington Management Group LLP now owns 1,244,311 shares of the company’s stock valued at $540,081,000 after buying an additional 816,110 shares in the last quarter. GAMMA Investing LLC increased its stake in Casey’s General Stores by 54,448.8% in the 1st quarter. GAMMA Investing LLC now owns 543,852 shares of the company’s stock worth $236,054,000 after purchasing an additional 542,855 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Casey’s General Stores by 42.0% in the first 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 last quarter. Third Point LLC bought a new position in Casey’s General Stores during the first quarter valued at approximately $130,212,000. Finally, Nuveen LLC purchased a new position in shares of Casey’s General Stores in the 1st quarter valued at $76,467,000. 85.63% of the stock is currently owned by institutional investors.

Insider Transactions at Casey’s General Stores

In other news, CFO Stephen P. Bramlage, Jr. sold 760 shares of the firm’s stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $507.56, for a total transaction of $385,745.60. Following the sale, the chief financial officer owned 25,994 shares of the company’s stock, valued at approximately $13,193,514.64. This trade represents a 2.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mike Spanos acquired 200 shares of Casey’s General Stores stock in a transaction dated Monday, June 30th. The stock was bought at an average price of $503.18 per share, for a total transaction of $100,636.00. Following the completion of the transaction, the director directly owned 3,560 shares of the company’s stock, valued at approximately $1,791,320.80. This represents a 5.95% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CASY shares. KeyCorp increased their target price on shares of Casey’s General Stores from $550.00 to $575.00 and gave the stock an “overweight” rating in a research note on Friday, July 25th. Evercore ISI upped their target price on shares of Casey’s General Stores from $560.00 to $580.00 and gave the company an “outperform” rating in a research note on Wednesday, September 10th. Jefferies Financial Group lifted their target price on shares of Casey’s General Stores from $575.00 to $600.00 and gave the stock a “buy” rating in a research report on Tuesday, September 9th. Wells Fargo & Company upped their target price on Casey’s General Stores from $540.00 to $580.00 and gave the stock an “overweight” rating in a research note on Monday, September 8th. Finally, Wall Street Zen upgraded Casey’s General Stores from a “hold” rating to a “buy” rating in a research note on Saturday, June 14th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $529.10.

Casey’s General Stores Stock Performance

CASY stock opened at $547.54 on Friday. The stock has a market capitalization of $20.36 billion, a PE ratio of 35.14 and a beta of 0.66. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.03 and a quick ratio of 0.61. Casey’s General Stores, Inc. has a fifty-two week low of $363.00 and a fifty-two week high of $571.57. The company has a 50 day moving average price of $522.50 and a 200 day moving average price of $482.83.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Monday, September 8th. The company reported $5.77 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.47 billion. During the same quarter last year, the firm earned $4.83 earnings per share. Casey’s General Stores’s quarterly revenue was up 11.5% on a year-over-year basis. Analysts forecast that Casey’s General Stores, Inc. will post 13.94 EPS for the current year.

Casey’s General Stores Dividend Announcement

The company also recently disclosed 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. This represents a $2.28 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Friday, October 31st. Casey’s General Stores’s dividend payout ratio is currently 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.