LGT Fund Management Co Ltd. Boosts Stock Holdings in Casey’s General Stores, Inc. $CASY

LGT Fund Management Co Ltd. boosted its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 28.6% during the second quarter, HoldingsChannel.com reports. The firm owned 4,500 shares of the company’s stock after acquiring an additional 1,000 shares during the period. LGT Fund Management Co Ltd.’s holdings in Casey’s General Stores were worth $2,296,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CASY. Samlyn Capital LLC increased its position in shares of Casey’s General Stores by 42.8% in the first quarter. Samlyn Capital LLC now owns 255,659 shares of the company’s stock worth $110,966,000 after acquiring an additional 76,673 shares in the last quarter. Security National Bank increased its position in shares of Casey’s General Stores by 9.7% in the first quarter. Security National Bank now owns 5,674 shares of the company’s stock worth $2,463,000 after acquiring an additional 504 shares in the last quarter. Cornerstone Wealth Management LLC acquired a new stake in shares of Casey’s General Stores in the first quarter worth $201,000. M&T Bank Corp increased its position in shares of Casey’s General Stores by 39.6% in the first quarter. M&T Bank Corp now owns 2,515 shares of the company’s stock worth $1,092,000 after acquiring an additional 713 shares in the last quarter. Finally, Ground Swell Capital LLC acquired a new stake in shares of Casey’s General Stores in the first quarter worth $338,000. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CASY. Jefferies Financial Group increased their price objective 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. Wall Street Zen raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Saturday, June 14th. Royal Bank Of Canada increased their price objective on shares of Casey’s General Stores from $468.00 to $542.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 9th. Evercore ISI increased their price objective on shares of Casey’s General Stores from $560.00 to $580.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 10th. Finally, Wells Fargo & Company increased their price objective on shares of Casey’s General Stores from $540.00 to $580.00 and gave the stock an “overweight” rating in a research report on Monday, September 8th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $529.10.

Casey’s General Stores Price Performance

CASY opened at $567.48 on Friday. The company has a fifty day simple moving average of $526.40 and a 200 day simple moving average of $488.11. The firm has a market cap of $21.10 billion, a price-to-earnings ratio of 36.42 and a beta of 0.68. Casey’s General Stores, Inc. has a twelve month low of $366.00 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 for the quarter, beating analysts’ consensus estimates of $5.02 by $0.75. The business had revenue of $4.57 billion during 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 business’s revenue was up 11.5% on a year-over-year basis. During the same period last year, the business earned $4.83 EPS. 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Saturday, November 1st will be issued a dividend of $0.57 per share. 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 (DPR) is currently 14.63%.

Insiders Place Their Bets

In other Casey’s General Stores news, insider Chad Michael Frazell sold 3,487 shares of the firm’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 completion of the transaction, the insider directly owned 7,993 shares of the company’s stock, valued at $4,439,312.20. This trade represents a 30.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.54% of the stock is currently owned by corporate insiders.

About Casey’s General Stores

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.