Jupiter Topco LLC Takes Position in Casey’s General Stores, Inc. $CASY

Jupiter Topco LLC acquired a new position in Casey’s General Stores, Inc. (NASDAQ:CASY) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 310,752 shares of the company’s stock, valued at approximately $246,982,000. Jupiter Topco LLC owned about 0.84% of Casey’s General Stores as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. NewEdge Advisors LLC boosted its position in Casey’s General Stores by 6.4% in the first quarter. NewEdge Advisors LLC now owns 1,871 shares of the company’s stock valued at $812,000 after buying an additional 113 shares during the last quarter. Geneos Wealth Management Inc. raised its position in Casey’s General Stores by 129.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 186 shares of the company’s stock worth $81,000 after buying an additional 105 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Casey’s General Stores by 431.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company’s stock worth $111,000 after buying an additional 177 shares during the last quarter. Amundi acquired a new stake in Casey’s General Stores during the 2nd quarter valued at approximately $338,000. Finally, Jump Financial LLC lifted its stake in Casey’s General Stores by 42.6% during the 2nd quarter. Jump Financial LLC now owns 968 shares of the company’s stock valued at $494,000 after acquiring an additional 289 shares during the period. Institutional investors and hedge funds own 85.63% of the company’s stock.

Casey’s General Stores Price Performance

Shares of NASDAQ CASY opened at $807.12 on Thursday. The stock has a market capitalization of $29.87 billion, a price-to-earnings ratio of 42.13, a PEG ratio of 2.82 and a beta of 0.61. Casey’s General Stores, Inc. has a 12 month low of $490.00 and a 12 month high of $927.85. The firm’s 50 day simple moving average is $835.23 and its 200-day simple moving average is $780.78. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.60.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, beating 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 analyst estimates of $4.33 billion. During the same period in the previous year, the firm earned $2.63 EPS. The business’s quarterly revenue was up 14.5% on a year-over-year basis. Analysts expect that Casey’s General Stores, Inc. will post 21.11 EPS for the current year.

Casey’s General Stores Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Saturday, August 1st were issued a $0.65 dividend. The ex-dividend date of this dividend was Friday, July 31st. This is a positive change 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%. Casey’s General Stores’s dividend payout ratio is presently 13.57%.

Insider Buying and Selling

In other Casey’s General Stores news, CEO Darren M. Rebelez sold 19,000 shares of the company’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $801.46, for a total value of $15,227,740.00. Following the completion of the transaction, the chief executive officer owned 89,174 shares in the company, valued at approximately $71,469,394.04. This represents a 17.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $838.16, for a total transaction of $4,777,512.00. Following the sale, the chief financial officer directly owned 29,677 shares in the company, valued at approximately $24,874,074.32. The trade was a 16.11% 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 in the last ninety days. Company insiders own 0.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Stephens set a $975.00 price objective on shares of Casey’s General Stores and gave the stock an “overweight” rating in a research note on Friday, June 12th. KeyCorp boosted their target price on shares of Casey’s General Stores from $950.00 to $970.00 and gave the company an “overweight” rating in a research report on Thursday, June 11th. UBS Group upped their price target on shares of Casey’s General Stores from $805.00 to $945.00 and gave the company a “neutral” rating in a report on Thursday, June 11th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $913.00 price target on shares of Casey’s General Stores in a research report on Wednesday, July 29th. Finally, BMO Capital Markets upgraded Casey’s General Stores from a “market perform” rating to an “outperform” rating and set a $950.00 price objective for the company in a research note on Monday, June 29th. Fourteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $944.20.

About Casey’s General Stores

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.