Vontobel Holding Ltd. Has $503.64 Million Stock Position in Casey’s General Stores, Inc. $CASY

Vontobel Holding Ltd. boosted its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 129.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 890,884 shares of the company’s stock after acquiring an additional 502,104 shares during the quarter. Casey’s General Stores accounts for approximately 1.5% of Vontobel Holding Ltd.’s portfolio, making the stock its 18th largest position. Vontobel Holding Ltd.’s holdings in Casey’s General Stores were worth $503,635,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Franklin Resources Inc. increased its holdings in shares of Casey’s General Stores by 0.3% during the 2nd quarter. Franklin Resources Inc. now owns 708,893 shares of the company’s stock worth $361,727,000 after acquiring an additional 2,467 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Casey’s General Stores by 71.7% in the second quarter. Invesco Ltd. now owns 483,907 shares of the company’s stock valued at $246,923,000 after purchasing an additional 202,033 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Casey’s General Stores by 9.1% in the second quarter. Envestnet Asset Management Inc. now owns 448,919 shares of the company’s stock valued at $229,070,000 after purchasing an additional 37,625 shares during the last quarter. Norges Bank bought a new position in shares of Casey’s General Stores in the second quarter valued at about $210,151,000. Finally, Third Point LLC lifted its stake in shares of Casey’s General Stores by 20.0% during the 2nd quarter. Third Point LLC now owns 360,000 shares of the company’s stock worth $183,697,000 after buying an additional 60,000 shares during the last quarter. 85.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on CASY. Jefferies Financial Group increased their price target on shares of Casey’s General Stores from $575.00 to $600.00 and gave the company a “buy” rating in a report on Tuesday, September 9th. KeyCorp restated an “overweight” rating on shares of Casey’s General Stores in a research note on Thursday, December 11th. 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 report on Wednesday, September 10th. Stephens upped their price target on shares of Casey’s General Stores from $570.00 to $600.00 and gave the company an “overweight” rating in a research note on Wednesday, December 3rd. Finally, Evercore ISI boosted their price objective on shares of Casey’s General Stores from $585.00 to $610.00 and gave the company an “outperform” rating in a report on Tuesday, December 2nd. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Casey’s General Stores currently has a consensus rating of “Moderate Buy” and a consensus price target of $585.67.

Casey’s General Stores Price Performance

Shares of NASDAQ:CASY opened at $566.98 on Wednesday. The firm has a 50 day moving average of $547.69 and a 200-day moving average of $531.58. Casey’s General Stores, Inc. has a 12 month low of $372.08 and a 12 month high of $575.98. The company has a current ratio of 1.05, a quick ratio of 0.65 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $21.02 billion, a PE ratio of 34.87 and a beta of 0.65.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Tuesday, December 9th. The company reported $5.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.92 by $0.61. Casey’s General Stores had a net margin of 3.58% and a return on equity of 16.89%. The business had revenue of $4.51 billion for the quarter, compared to analysts’ expectations of $4.51 billion. During the same period last year, the firm posted $4.85 earnings per share. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. On average, equities research analysts predict that Casey’s General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey’s General Stores Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Sunday, February 1st will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Friday, January 30th. Casey’s General Stores’s dividend payout ratio is currently 14.02%.

Insiders Place Their Bets

In other Casey’s General Stores news, insider Chad Michael Frazell sold 3,487 shares of Casey’s General Stores stock in a transaction dated 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 transaction, the insider owned 7,993 shares in the company, valued at $4,439,312.20. The trade was a 30.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.54% of the stock is owned by company insiders.

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.