Invesco Ltd. Increases Stock Position in Casey’s General Stores, Inc. $CASY

Invesco Ltd. lifted its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 71.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 483,907 shares of the company’s stock after purchasing an additional 202,033 shares during the period. Invesco Ltd. owned about 1.30% of Casey’s General Stores worth $246,923,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Summit Securities Group LLC acquired a new stake in Casey’s General Stores during the 1st quarter valued at $32,000. Nvwm LLC purchased a new stake in shares of Casey’s General Stores in the second quarter valued at $32,000. Rossby Financial LCC lifted its position in shares of Casey’s General Stores by 580.0% in the second quarter. Rossby Financial LCC now owns 68 shares of the company’s stock valued at $35,000 after acquiring an additional 58 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Casey’s General Stores during the second quarter valued at $42,000. Finally, WPG Advisers LLC purchased a new stake in Casey’s General Stores during the 1st quarter worth about $47,000. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Casey’s General Stores news, insider Chad Michael Frazell sold 3,487 shares of the business’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $555.40, for a total transaction of $1,936,679.80. Following the completion of the sale, the insider owned 7,993 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.54% of the company’s stock.

Casey’s General Stores Stock Performance

Shares of CASY stock opened at $567.03 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.61 and a current ratio of 1.03. The firm has a market capitalization of $21.08 billion, a price-to-earnings ratio of 36.39 and a beta of 0.65. Casey’s General Stores, Inc. has a one year low of $372.08 and a one year high of $573.76. The company has a 50 day moving average price of $549.10 and a 200 day moving average price of $521.79.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings results on Monday, September 8th. The company reported $5.77 earnings per share for the quarter, beating analysts’ consensus estimates of $5.02 by $0.75. The company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.47 billion. Casey’s General Stores had a net margin of 3.54% and a return on equity of 16.73%. Casey’s General Stores’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter last year, the business earned $4.83 EPS. Sell-side analysts anticipate that Casey’s General Stores, Inc. will post 13.94 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on CASY. BMO Capital Markets upped their target price on shares of 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. Weiss Ratings reissued a “buy (b)” rating on shares of Casey’s General Stores in a research note on Monday, December 1st. The Goldman Sachs Group raised their target price on shares of Casey’s General Stores from $450.00 to $490.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 10th. Evercore ISI lifted their target price on shares of Casey’s General Stores from $585.00 to $610.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Wells Fargo & Company increased their price target on Casey’s General Stores from $610.00 to $625.00 and gave the stock an “overweight” rating in a research note on Tuesday. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $575.78.

Casey’s General Stores Company Profile

Casey’s General Stores, Inc engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.