Casey’s General Stores, Inc. $CASY Shares Acquired by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 37.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 149,509 shares of the company’s stock after purchasing an additional 40,944 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.40% of Casey’s General Stores worth $118,828,000 at the end of the most recent quarter.

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

Casey’s General Stores Trading Up 2.0%

Shares of CASY opened at $766.91 on Wednesday. Casey’s General Stores, Inc. has a twelve month low of $490.50 and a twelve month high of $927.85. The company has a current ratio of 1.01, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $28.38 billion, a P/E ratio of 40.03, a PEG ratio of 2.57 and a beta of 0.59. The firm’s 50-day moving average is $829.03 and its two-hundred day moving average is $783.70.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.31 by $1.06. The company had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.33 billion. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period last year, the firm earned $2.63 EPS. On average, research analysts predict that Casey’s General Stores, Inc. will post 21.11 earnings per share for the current fiscal year.

Casey’s General Stores Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Saturday, August 1st were issued a dividend of $0.65 per share. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.57. This represents a $2.60 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Friday, July 31st. Casey’s General Stores’s payout ratio is presently 13.57%.

Insider Activity

In other Casey’s General Stores news, Director Allison M. Wing sold 530 shares of the company’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $837.58, for a total value of $443,917.40. Following the sale, the director owned 3,042 shares of the company’s stock, valued at approximately $2,547,918.36. This represents a 14.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chad Michael Frazell sold 3,013 shares of Casey’s General Stores stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $787.49, for a total value of $2,372,707.37. Following the transaction, the insider directly owned 9,823 shares of the company’s stock, valued at $7,735,514.27. This trade represents a 23.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 30,243 shares of company stock valued at $24,421,877 in the last 90 days. Insiders own 0.67% of the company’s stock.

Wall Street Analysts Forecast Growth

CASY has been the subject of several analyst reports. Royal Bank Of Canada reissued a “sector perform” rating and set a $913.00 price target on shares of Casey’s General Stores in a report on Wednesday, July 29th. Capital One Financial started coverage on Casey’s General Stores in a research report on Monday, June 22nd. They set an “equal weight” rating and a $896.00 target price on the stock. Zacks Research downgraded Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. BMO Capital Markets raised Casey’s General Stores from a “market perform” rating to an “outperform” rating and set a $950.00 price target for the company in a report on Monday, June 29th. Finally, William Blair began coverage on Casey’s General Stores in a research note on Wednesday, May 20th. They issued an “outperform” rating on the stock. Fourteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $942.87.

Casey’s General Stores Company 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.