KLP Kapitalforvaltning AS Has $3.93 Million Stake in Casey’s General Stores, Inc. $CASY

KLP Kapitalforvaltning AS decreased its position in Casey’s General Stores, Inc. (NASDAQ:CASY) by 2.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,700 shares of the company’s stock after selling 200 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Casey’s General Stores were worth $3,929,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake in shares of Casey’s General Stores by 190.6% in the first 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 during the period. JPMorgan Chase & Co. boosted 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 valued at $449,851,000 after buying an additional 306,628 shares during the period. Third Point LLC bought a new stake in shares of Casey’s General Stores in the first quarter valued at approximately $130,212,000. Nuveen LLC bought a new stake in shares of Casey’s General Stores in the first quarter valued at approximately $76,467,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Casey’s General Stores by 51.5% in the first quarter. Bank of New York Mellon Corp now owns 515,603 shares of the company’s stock valued at $223,792,000 after buying an additional 175,372 shares during the period. Institutional investors and hedge funds own 85.63% of the company’s stock.

Insider Activity at Casey’s General Stores

In other news, insider Chad Michael Frazell sold 3,487 shares of the stock in a transaction on Monday, September 29th. The stock was sold at an average price of $555.40, for a total value of $1,936,679.80. Following the completion of the transaction, the insider directly owned 7,993 shares in the company, valued at approximately $4,439,312.20. This represents a 30.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CASY shares. Wells Fargo & Company boosted their price target on Casey’s General Stores from $540.00 to $580.00 and gave the company an “overweight” rating in a research note on Monday, September 8th. BMO Capital Markets boosted their price target on 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. The Goldman Sachs Group boosted their price target on Casey’s General Stores from $450.00 to $490.00 and gave the company a “neutral” rating in a research note on Wednesday, September 10th. Jefferies Financial Group boosted their price target on Casey’s General Stores from $575.00 to $600.00 and gave the company a “buy” rating in a research note on Tuesday, September 9th. Finally, Evercore ISI upped their target price on Casey’s General Stores from $560.00 to $580.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 10th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $533.10.

Casey’s General Stores Stock Up 0.8%

NASDAQ CASY opened at $556.67 on Friday. The business has a fifty day moving average price of $529.63 and a two-hundred day moving average price of $493.25. 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 $372.08 and a fifty-two week high of $571.57. The stock has a market capitalization of $20.70 billion, a PE ratio of 35.73 and a beta of 0.68.

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

Casey’s General Stores Dividend Announcement

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

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.