Jupiter Topco LLC Takes $246.98 Million Position in Casey’s General Stores, Inc. $CASY

Jupiter Topco LLC purchased a new stake in Casey’s General Stores, Inc. (NASDAQ:CASY) during the second quarter, Holdings Channel reports. The institutional investor purchased 310,752 shares of the company’s stock, valued at approximately $246,982,000.

Other large investors also recently added to or reduced their stakes in the company. Fiduciary Financial Advisors purchased a new position in Casey’s General Stores during the second quarter valued at $26,000. Bell Investment Advisors Inc purchased a new stake in shares of Casey’s General Stores during the second quarter worth about $33,000. Whipplewood Advisors LLC acquired a new position in shares of Casey’s General Stores during the 1st quarter worth about $33,000. RMG Wealth Management LLC raised its position in shares of Casey’s General Stores by 250.0% during the 1st quarter. RMG Wealth Management LLC now owns 56 shares of the company’s stock worth $41,000 after purchasing an additional 40 shares during the last quarter. Finally, EFG International AG acquired a new position in shares of Casey’s General Stores during the 2nd quarter worth about $52,000. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Casey’s General Stores Stock Performance

CASY opened at $807.12 on Thursday. The firm has a market capitalization of $29.87 billion, a PE ratio of 42.13, a PEG ratio of 2.82 and a beta of 0.61. Casey’s General Stores, Inc. has a twelve month low of $490.00 and a twelve month high of $927.85. The firm’s 50-day moving average price is $835.23 and its 200 day moving average price is $780.78. The company has a current ratio of 1.01, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.31 by $1.06. The company had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.33 billion. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. Casey’s General Stores’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.63 EPS. As a group, sell-side analysts expect that Casey’s General Stores, Inc. will post 21.11 EPS for the current fiscal year.

Casey’s General Stores Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CASY shares. BNP Paribas Exane lowered their price objective on Casey’s General Stores from $1,032.00 to $995.00 and set an “outperform” rating on the stock in a report on Thursday, June 25th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $1,000.00 target price on shares of Casey’s General Stores in a report on Monday, June 15th. Stephens set a $975.00 target price on Casey’s General Stores and gave the company an “overweight” rating in a research report on Friday, June 12th. Morgan Stanley raised Casey’s General Stores to a “buy” rating in a research note on Wednesday, June 10th. Finally, Zacks Research cut Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 5th. Fourteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $944.20.

Insiders Place Their Bets

In related news, Director Allison M. Wing sold 530 shares of the stock in a transaction that occurred 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 completion of the sale, the director owned 3,042 shares of the company’s stock, valued at approximately $2,547,918.36. This trade 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 can be accessed through this link. Also, CEO Darren M. Rebelez sold 19,000 shares of the stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $801.46, for a total value of $15,227,740.00. Following the completion of the sale, the chief executive officer directly owned 89,174 shares of the company’s stock, valued at approximately $71,469,394.04. This represents a 17.56% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 30,243 shares of company stock valued at $24,421,877. Insiders own 0.67% of the company’s stock.

Casey’s General Stores 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.