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

JPMorgan Chase & Co. lowered its position in Casey’s General Stores, Inc. (NASDAQ:CASY) by 4.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 762,545 shares of the company’s stock after selling 33,077 shares during the period. JPMorgan Chase & Co.’s holdings in Casey’s General Stores were worth $431,082,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of CASY. Westside Investment Management Inc. raised its stake 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 during the last quarter. Nvwm LLC purchased a new position in shares of Casey’s General Stores during the 2nd quarter worth approximately $32,000. Atlantic Union Bankshares Corp acquired a new stake in shares of Casey’s General Stores in the 3rd quarter valued at approximately $33,000. Cornerstone Planning Group LLC boosted its stake in shares of Casey’s General Stores by 490.9% in the third quarter. Cornerstone Planning Group LLC now owns 65 shares of the company’s stock valued at $34,000 after buying an additional 54 shares in the last quarter. Finally, Rossby Financial LCC grew its holdings in Casey’s General Stores by 580.0% during the second quarter. Rossby Financial LCC now owns 68 shares of the company’s stock worth $35,000 after acquiring an additional 58 shares during the period. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Stock Performance

Casey’s General Stores stock opened at $657.68 on Thursday. The company 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, Inc. has a 12 month low of $372.08 and a 12 month high of $678.67. 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 stock’s 50-day moving average is $603.62 and its 200-day moving average is $560.77.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings data on Tuesday, December 9th. The company reported $5.53 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $4.51 billion during the quarter, compared to the consensus estimate of $4.51 billion. During the same period in the previous year, the firm earned $4.85 earnings per share. Casey’s General Stores’s revenue for the quarter was up 14.2% on a year-over-year basis. Equities analysts anticipate that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey’s General Stores Dividend Announcement

The firm also recently announced 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. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Friday, January 30th. Casey’s General Stores’s payout ratio is presently 14.02%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CASY shares. Northcoast Research cut shares of Casey’s General Stores from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 21st. KeyCorp reiterated an “overweight” rating and set a $700.00 target price on shares of Casey’s General Stores in a research report on Thursday, February 12th. Evercore increased 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 research note on Tuesday, December 2nd. UBS Group reaffirmed a “neutral” rating on shares of Casey’s General Stores in a report on Thursday, December 11th. Finally, Wells Fargo & Company boosted their price target on Casey’s General Stores from $610.00 to $625.00 and gave the stock an “overweight” rating in a report on Tuesday, December 2nd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $615.50.

Insider Activity at Casey’s General Stores

In other Casey’s General Stores news, Director Moats Maria Castanon acquired 300 shares of the company’s stock in a transaction on Monday, January 5th. The shares were bought at an average cost 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 $445,391.98. This trade represents a 59.64% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.54% of the company’s stock.

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.