Harbour Investments Inc. Boosts Stock Position in Casey’s General Stores, Inc. $CASY

Harbour Investments Inc. grew its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 11.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,106 shares of the company’s stock after buying an additional 117 shares during the period. Harbour Investments Inc.’s holdings in Casey’s General Stores were worth $564,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Wellington Management Group LLP lifted its position in shares of 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 valued at $540,081,000 after buying an additional 816,110 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Casey’s General Stores by 42.0% in the 1st 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 period. Raymond James Financial Inc. boosted its stake in Casey’s General Stores by 8.9% in the 1st quarter. Raymond James Financial Inc. now owns 649,815 shares of the company’s stock worth $282,045,000 after purchasing an additional 52,939 shares during the period. Bank of New York Mellon Corp boosted its stake in Casey’s General Stores by 51.5% in the 1st quarter. Bank of New York Mellon Corp now owns 515,603 shares of the company’s stock worth $223,792,000 after purchasing an additional 175,372 shares during the period. Finally, Northern Trust Corp boosted its stake in Casey’s General Stores by 0.6% in the 1st quarter. Northern Trust Corp now owns 334,445 shares of the company’s stock worth $145,163,000 after purchasing an additional 1,941 shares during the period. 85.63% of the stock is owned by hedge funds and other institutional investors.

Casey’s General Stores Stock Up 1.0%

Shares of CASY opened at $567.05 on Monday. The company has a market cap of $21.08 billion, a PE ratio of 36.40 and a beta of 0.68. The business has a fifty day moving average of $534.08 and a 200 day moving average of $498.49. Casey’s General Stores, Inc. has a 52-week low of $372.08 and a 52-week high of $572.18. The company has a quick ratio of 0.61, a current ratio of 1.03 and a debt-to-equity ratio of 0.65.

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

Casey’s General Stores Dividend Announcement

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

Insider Transactions at Casey’s General Stores

In related news, insider Chad Michael Frazell sold 3,487 shares of the firm’s 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 sale, the insider directly owned 7,993 shares in the company, valued at $4,439,312.20. This trade represents a 30.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CASY has been the subject of several recent analyst reports. The Goldman Sachs Group upped their price target on Casey’s General Stores from $450.00 to $490.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 10th. Weiss Ratings restated a “buy (b)” rating on shares of Casey’s General Stores in a research note on Wednesday, October 8th. Jefferies Financial Group upped their price target on Casey’s General Stores from $575.00 to $600.00 and gave the stock a “buy” rating in a research note on Tuesday, September 9th. KeyCorp upped their price target on 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. Finally, Royal Bank Of Canada upped their price target on Casey’s General Stores from $468.00 to $542.00 and gave the stock 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 issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $536.10.

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.