Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 63,415 Casey’s General Stores, Inc. $CASY

Connor Clark & Lunn Investment Management Ltd. 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 and Exchange Commission. The institutional investor acquired 63,415 shares of the company’s stock, valued at approximately $50,402,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.17% of Casey’s General Stores at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. NewEdge Advisors LLC raised its stake 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 worth $812,000 after buying an additional 113 shares in the last quarter. Geneos Wealth Management Inc. boosted 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 valued at $81,000 after acquiring an additional 105 shares in the last quarter. EverSource Wealth Advisors LLC boosted 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 valued at $111,000 after acquiring an additional 177 shares in the last quarter. Amundi purchased a new position in shares of Casey’s General Stores during the 2nd quarter worth approximately $338,000. Finally, Jump Financial LLC grew its holdings in shares of Casey’s General Stores by 42.6% during the 2nd 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 hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CASY. JPMorgan Chase & Co. raised their target price on Casey’s General Stores from $719.00 to $975.00 and gave the company a “neutral” rating in a research note on Friday, June 12th. UBS Group upped their price target on Casey’s General Stores from $805.00 to $945.00 and gave the stock a “neutral” rating in a research note on Thursday, June 11th. Wells Fargo & Company increased their price objective on Casey’s General Stores from $910.00 to $960.00 and gave the stock an “overweight” rating in a report on Thursday, June 11th. BNP Paribas Exane lowered their price objective on Casey’s General Stores from $1,032.00 to $995.00 and set an “outperform” rating for the company in a research report on Thursday, June 25th. Finally, Evercore reissued an “outperform” rating and set a $990.00 price objective on shares of Casey’s General Stores in a research report on Friday, June 12th. Fourteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Casey’s General Stores currently has an average rating of “Moderate Buy” and an average price target of $944.20.

Insider Buying and Selling

In other Casey’s General Stores news, insider Katrina S. Lindsey sold 2,000 shares of Casey’s General Stores stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $800.00, for a total value of $1,600,000.00. Following the completion of the transaction, the insider directly owned 6,668 shares of the company’s stock, valued at approximately $5,334,400. The trade was a 23.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Chad Michael Frazell sold 3,013 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $787.49, for a total transaction of $2,372,707.37. Following the completion of the transaction, the insider owned 9,823 shares in the company, valued at approximately $7,735,514.27. This represents a 23.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 30,243 shares of company stock worth $24,421,877 over the last quarter. 0.67% of the stock is owned by insiders.

Casey’s General Stores Price Performance

CASY stock opened at $854.21 on Tuesday. The firm has a 50 day moving average price of $836.91 and a 200-day moving average price of $778.44. Casey’s General Stores, Inc. has a 52-week low of $490.00 and a 52-week high of $927.85. The firm has a market capitalization of $31.61 billion, a price-to-earnings ratio of 44.58, a PEG ratio of 2.86 and a beta of 0.61. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 1.01.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $3.31 by $1.06. The firm had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.33 billion. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.63 EPS. Equities research analysts forecast that Casey’s General Stores, Inc. will post 21.11 EPS for the current fiscal year.

Casey’s General Stores Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Saturday, August 1st were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Friday, July 31st. This is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.57. Casey’s General Stores’s dividend payout ratio (DPR) is presently 13.57%.

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.