JLB & Associates Inc. Acquires Shares of 50,435 Casey’s General Stores, Inc. $CASY

JLB & Associates Inc. bought a new position in Casey’s General Stores, Inc. (NASDAQ:CASY) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 50,435 shares of the company’s stock, valued at approximately $40,085,000. Casey’s General Stores accounts for about 5.4% of JLB & Associates Inc.’s investment portfolio, making the stock its 3rd largest holding. JLB & Associates Inc. owned about 0.14% of Casey’s General Stores as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kathmere Capital Management LLC grew its holdings in shares of Casey’s General Stores by 3.5% in the first quarter. Kathmere Capital Management LLC now owns 387 shares of the company’s stock worth $282,000 after purchasing an additional 13 shares during the last quarter. Pinnacle Bancorp Inc. lifted its holdings in Casey’s General Stores by 4.8% during the 1st quarter. Pinnacle Bancorp Inc. now owns 303 shares of the company’s stock valued at $221,000 after buying an additional 14 shares in the last quarter. Lincoln Capital LLC lifted its holdings in Casey’s General Stores by 4.0% during the 2nd quarter. Lincoln Capital LLC now owns 366 shares of the company’s stock valued at $291,000 after buying an additional 14 shares in the last quarter. Menard Financial Group LLC boosted its position in Casey’s General Stores by 1.2% in the 4th quarter. Menard Financial Group LLC now owns 1,267 shares of the company’s stock valued at $700,000 after buying an additional 15 shares during the period. Finally, Cibc World Market Inc. boosted its position in Casey’s General Stores by 0.3% in the 4th quarter. Cibc World Market Inc. now owns 5,136 shares of the company’s stock valued at $2,839,000 after buying an additional 16 shares during the period. 85.63% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. 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 13th. Evercore reiterated an “outperform” rating and issued a $990.00 price target on shares of Casey’s General Stores in a report on Friday, June 12th. BMO Capital Markets raised Casey’s General Stores from a “market perform” rating to an “outperform” rating and set a $950.00 price objective on the stock in a research note on Monday, June 29th. The Goldman Sachs Group raised their price objective on Casey’s General Stores from $695.00 to $795.00 and gave the stock a “neutral” rating in a report on Thursday, June 25th. Finally, Weiss Ratings lowered Casey’s General Stores from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, July 21st. Fourteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Casey’s General Stores currently has an average rating of “Moderate Buy” and a consensus price target of $944.20.

Insider Activity at Casey’s General Stores

In other news, insider Chad Michael Frazell sold 3,013 shares of the business’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $787.49, for a total value of $2,372,707.37. Following the completion of the transaction, the insider directly owned 9,823 shares of the company’s stock, valued at approximately $7,735,514.27. The trade was a 23.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Darren M. Rebelez sold 19,000 shares of the company’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $801.46, for a total value of $15,227,740.00. Following the sale, the chief executive officer owned 89,174 shares of the company’s stock, valued at $71,469,394.04. This trade represents a 17.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 30,243 shares of company stock valued at $24,421,877 over the last 90 days. Insiders own 0.67% of the company’s stock.

Casey’s General Stores Trading Down 1.7%

NASDAQ CASY opened at $855.00 on Wednesday. Casey’s General Stores, Inc. has a one year low of $490.00 and a one year high of $927.85. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 1.01. The company has a market capitalization of $31.64 billion, a price-to-earnings ratio of 44.62, a price-to-earnings-growth ratio of 2.54 and a beta of 0.61. The company’s 50-day simple moving average is $841.81 and its two-hundred day simple moving average is $772.32.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, topping the consensus estimate of $3.31 by $1.06. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. The firm had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.33 billion. During the same quarter in the prior year, the company earned $2.63 EPS. The company’s revenue was up 14.5% compared to the same quarter last year. Equities analysts forecast that Casey’s General Stores, Inc. will post 21.14 EPS for the current fiscal year.

Casey’s General Stores Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Saturday, August 1st were issued a dividend of $0.65 per share. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.57. This represents a $2.60 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Friday, July 31st. Casey’s General Stores’s dividend payout ratio (DPR) is currently 13.57%.

Casey’s General Stores Profile

Casey’s General Stores, Inc (NASDAQ: CASY) is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.