29,175 Shares in Casey’s General Stores, Inc. $CASY Bought by Jennison Associates LLC

Jennison Associates LLC bought a new position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 29,175 shares of the company’s stock, valued at approximately $14,887,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Valmark Advisers Inc. increased its holdings in Casey’s General Stores by 0.5% during the second quarter. Valmark Advisers Inc. now owns 4,404 shares of the company’s stock worth $2,247,000 after buying an additional 21 shares during the last quarter. Iron Horse Wealth Management LLC increased its holdings in shares of Casey’s General Stores by 40.0% in the first quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company’s stock valued at $40,000 after purchasing an additional 26 shares during the last quarter. Menard Financial Group LLC increased its holdings in shares of Casey’s General Stores by 2.1% in the first quarter. Menard Financial Group LLC now owns 1,290 shares of the company’s stock valued at $603,000 after purchasing an additional 27 shares during the last quarter. Accurate Wealth Management LLC increased its holdings in shares of Casey’s General Stores by 3.9% in the second quarter. Accurate Wealth Management LLC now owns 727 shares of the company’s stock valued at $381,000 after purchasing an additional 27 shares during the last quarter. Finally, Applied Capital LLC FL increased its holdings in shares of Casey’s General Stores by 4.4% in the first quarter. Applied Capital LLC FL now owns 659 shares of the company’s stock valued at $286,000 after purchasing an additional 28 shares during the last quarter. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Chad Michael Frazell sold 3,487 shares of the company’s stock in a transaction dated 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 sale, the insider owned 7,993 shares of the company’s stock, valued at $4,439,312.20. This represents a 30.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.54% of the stock is owned by corporate insiders.

Casey’s General Stores Trading Down 1.0%

CASY stock opened at $513.19 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.61 and a current ratio of 1.03. The company’s 50-day simple moving average is $538.93 and its 200 day simple moving average is $505.08. 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 market capitalization of $19.08 billion, a PE ratio of 32.94 and a beta of 0.68.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data 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 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 analysts’ expectations of $4.47 billion. During the same quarter in the prior year, the business posted $4.83 earnings per share. Casey’s General Stores’s revenue was up 11.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Casey’s General Stores, Inc. will post 13.94 earnings per share 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 given a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a $2.28 annualized dividend and a yield of 0.4%. Casey’s General Stores’s dividend payout ratio is currently 14.63%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Wells Fargo & Company assumed coverage on shares of Casey’s General Stores in a report on Wednesday, October 15th. They issued an “overweight” rating and a $610.00 price objective on the stock. Royal Bank Of Canada upped their price objective on shares of Casey’s General Stores from $468.00 to $542.00 and gave the company a “sector perform” rating in a report on Wednesday, July 9th. The Goldman Sachs Group upped their price objective on shares of Casey’s General Stores from $450.00 to $490.00 and gave the company a “neutral” rating in a report on Wednesday, September 10th. KeyCorp upped their price target on shares of Casey’s General Stores from $550.00 to $575.00 and gave the company an “overweight” rating in a research note on Friday, July 25th. Finally, Evercore ISI upped their price target on shares of Casey’s General Stores from $580.00 to $585.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. One 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, Casey’s General Stores presently has an average rating of “Moderate Buy” and a consensus price target of $536.60.

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.