Point72 Hong Kong Ltd Invests $1.04 Million in Casey’s General Stores, Inc. (NASDAQ:CASY)

Point72 Hong Kong Ltd purchased a new position in Casey’s General Stores, Inc. (NASDAQ:CASY) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,732 shares of the company’s stock, valued at approximately $1,043,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Congress Asset Management Co. MA purchased a new stake in shares of Casey’s General Stores in the first quarter valued at approximately $112,081,000. Point72 Asset Management L.P. grew its holdings in Casey’s General Stores by 561.7% during the 4th quarter. Point72 Asset Management L.P. now owns 273,168 shares of the company’s stock worth $75,050,000 after acquiring an additional 231,887 shares in the last quarter. Principal Financial Group Inc. increased its position in Casey’s General Stores by 113.0% during the 1st quarter. Principal Financial Group Inc. now owns 291,838 shares of the company’s stock valued at $92,936,000 after purchasing an additional 154,803 shares during the period. DAVENPORT & Co LLC lifted its position in shares of Casey’s General Stores by 11,242.6% during the first quarter. DAVENPORT & Co LLC now owns 107,641 shares of the company’s stock valued at $34,284,000 after buying an additional 106,692 shares during the last quarter. Finally, Scout Investments Inc. boosted its stake in Casey’s General Stores by 138.2% in the first quarter. Scout Investments Inc. now owns 179,051 shares of the company’s stock valued at $56,467,000 after acquiring an additional 103,879 shares in the last quarter. Institutional investors own 85.63% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CASY. JPMorgan Chase & Co. lowered shares of Casey’s General Stores from a “neutral” rating to an “underweight” rating and upped their price target for the company from $300.00 to $337.00 in a research note on Thursday, September 19th. Benchmark reissued a “buy” rating and issued a $410.00 price objective on shares of Casey’s General Stores in a research note on Tuesday, September 10th. Evercore ISI increased their price target on Casey’s General Stores from $410.00 to $435.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Wells Fargo & Company boosted their target price on shares of Casey’s General Stores from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Finally, Jefferies Financial Group raised their target price on Casey’s General Stores from $342.00 to $445.00 and gave the stock a “buy” rating in a research note on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $407.64.

Casey’s General Stores Trading Up 0.0 %

Shares of Casey’s General Stores stock opened at $371.98 on Thursday. The stock has a market cap of $13.81 billion, a price-to-earnings ratio of 27.70 and a beta of 0.80. Casey’s General Stores, Inc. has a 12-month low of $260.13 and a 12-month high of $401.07. The company has a fifty day simple moving average of $373.89 and a 200-day simple moving average of $349.19. The company has a current ratio of 0.84, a quick ratio of 0.44 and a debt-to-equity ratio of 0.44.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Wednesday, September 4th. The company reported $4.83 EPS for the quarter, beating analysts’ consensus estimates of $4.54 by $0.29. Casey’s General Stores had a net margin of 3.40% and a return on equity of 17.07%. The company had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same period in the previous year, the business posted $4.52 earnings per share. Casey’s General Stores’s quarterly revenue was up 5.9% on a year-over-year basis. On average, equities analysts forecast that Casey’s General Stores, Inc. will post 14.01 EPS for the current fiscal year.

Casey’s General Stores Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a $0.50 dividend. The ex-dividend date is Friday, November 1st. This represents a $2.00 annualized dividend and a dividend yield of 0.54%. Casey’s General Stores’s dividend payout ratio (DPR) is currently 14.89%.

Insider Activity

In other Casey’s General Stores news, insider Thomas P. Brennan, Jr. sold 3,000 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $380.24, for a total value of $1,140,720.00. Following the transaction, the insider now directly owns 9,044 shares of the company’s stock, valued at approximately $3,438,890.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Mike Spanos acquired 267 shares of Casey’s General Stores stock in a transaction that occurred on Wednesday, September 18th. The stock was purchased at an average price of $376.18 per share, for a total transaction of $100,440.06. Following the completion of the purchase, the director now directly owns 2,594 shares of the company’s stock, valued at $975,810.92. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Thomas P. Brennan, Jr. sold 3,000 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $380.24, for a total transaction of $1,140,720.00. Following the transaction, the insider now owns 9,044 shares in the company, valued at $3,438,890.56. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.

Casey’s General Stores Profile

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. Its stores offer pizza, donuts, breakfast items, and sandwiches; and tobacco and nicotine products. The company's stores provide soft drinks, energy, water, sports drinks, juices, coffee, and tea and dairy products; beer, wine, and spirits; snacks, candy, packaged bakery, and other food items; ice, ice cream, meals, and appetizers; health and beauty aids, automotive products, electronic accessories, housewares, and pet supplies; and ATM, lotto/lottery, and prepaid cards.