JPMorgan Chase & Co. Trims Position in Casey’s General Stores, Inc. $CASY

JPMorgan Chase & Co. decreased its position in Casey’s General Stores, Inc. (NASDAQ:CASY) by 4.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 762,545 shares of the company’s stock after selling 33,077 shares during the period. JPMorgan Chase & Co. owned 2.06% of Casey’s General Stores worth $431,082,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CASY. Westside Investment Management Inc. boosted its position in Casey’s General Stores by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 46 shares of the company’s stock valued at $26,000 after acquiring an additional 23 shares in the last quarter. Atlantic Union Bankshares Corp bought a new stake in Casey’s General Stores during the third quarter valued at about $33,000. Nvwm LLC purchased a new position in Casey’s General Stores in the second quarter valued at about $32,000. Cornerstone Planning Group LLC raised its holdings in Casey’s General Stores by 490.9% in the third quarter. Cornerstone Planning Group LLC now owns 65 shares of the company’s stock worth $34,000 after purchasing an additional 54 shares in the last quarter. Finally, Rossby Financial LCC lifted its position in shares of Casey’s General Stores by 580.0% during the second quarter. Rossby Financial LCC now owns 68 shares of the company’s stock valued at $35,000 after buying an additional 58 shares during the last quarter. Institutional investors own 85.63% of the company’s stock.

Insider Activity

In other news, Director Moats Maria Castanon purchased 300 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was acquired at an average price of $554.66 per share, for a total transaction of $166,398.00. Following the acquisition, the director directly owned 803 shares of the company’s stock, valued at approximately $445,391.98. This represents a 59.64% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Casey’s General Stores Price Performance

NASDAQ:CASY opened at $657.68 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.05 and a quick ratio of 0.65. The company has a 50 day moving average price of $603.62 and a 200-day moving average price of $560.77. Casey’s General Stores, Inc. has a 1-year low of $372.08 and a 1-year high of $678.67. The firm has a market cap of $24.38 billion, a price-to-earnings ratio of 40.45, a price-to-earnings-growth ratio of 2.34 and a beta of 0.68.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Tuesday, December 9th. The company reported $5.53 earnings per share for the quarter, topping analysts’ consensus estimates of $4.92 by $0.61. The company had revenue of $4.51 billion during the quarter, compared to analysts’ expectations of $4.51 billion. Casey’s General Stores had a return on equity of 16.89% and a net margin of 3.58%.Casey’s General Stores’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.85 EPS. Equities research analysts forecast that Casey’s General Stores, Inc. will post 13.94 EPS for the current year.

Casey’s General Stores Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Sunday, February 1st were given a dividend of $0.57 per share. The ex-dividend date of this dividend was Friday, January 30th. This represents a $2.28 annualized dividend and a dividend yield of 0.3%. Casey’s General Stores’s payout ratio is presently 14.02%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Casey’s General Stores in a report on Monday, December 29th. Wall Street Zen upgraded Casey’s General Stores from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. Northcoast Research downgraded Casey’s General Stores from a “buy” rating to a “neutral” rating in a report on Wednesday, January 21st. Evercore upped 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. Finally, UBS Group reiterated a “neutral” rating on shares of Casey’s General Stores in a research note on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $615.50.

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.