Legal & General Group Plc Raises Stock Holdings in Casey’s General Stores, Inc. $CASY

Legal & General Group Plc raised its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 2.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 81,746 shares of the company’s stock after purchasing an additional 1,575 shares during the quarter. Legal & General Group Plc owned 0.22% of Casey’s General Stores worth $41,713,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP grew its position in shares of Casey’s General Stores by 190.6% during the first quarter. Wellington Management Group LLP now owns 1,244,311 shares of the company’s stock worth $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% during the 1st quarter. JPMorgan Chase & Co. now owns 1,036,426 shares of the company’s stock valued at $449,851,000 after acquiring an additional 306,628 shares during the last quarter. Third Point LLC bought a new position in Casey’s General Stores during the 1st quarter valued at $130,212,000. Nuveen LLC acquired a new position in Casey’s General Stores during the 1st quarter worth $76,467,000. Finally, Alyeska Investment Group L.P. bought a new stake in shares of Casey’s General Stores in the 1st quarter worth about $65,298,000. 85.63% of the stock is owned by institutional investors and hedge funds.

Casey’s General Stores Stock Up 1.0%

NASDAQ:CASY opened at $571.18 on Thursday. The firm has a market capitalization of $21.24 billion, a PE ratio of 36.66 and a beta of 0.66. The stock has a 50 day moving average of $546.37 and a 200-day moving average of $515.85. Casey’s General Stores, Inc. has a 52 week low of $372.08 and a 52 week high of $572.75. 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 announced its quarterly earnings results on Monday, September 8th. The company reported $5.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.02 by $0.75. The business had revenue of $4.57 billion for 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%.The business’s revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the business posted $4.83 EPS. Analysts predict that Casey’s General Stores, Inc. will post 13.94 EPS for the current year.

Casey’s General Stores Announces Dividend

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

Wall Street Analysts Forecast Growth

CASY has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Casey’s General Stores in a research report on Tuesday. BMO Capital Markets upped their price objective 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. Jefferies Financial Group lifted their target price on 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. 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 report on Wednesday, September 10th. Finally, Evercore ISI raised their price objective on Casey’s General Stores from $580.00 to $585.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $564.00.

Insider Activity at Casey’s General Stores

In other 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 transaction, the insider owned 7,993 shares in the company, valued at approximately $4,439,312.20. This represents a 30.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.54% of the company’s stock.

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.