Jefferies Financial Group Inc. Purchases Shares of 19,016 Casey’s General Stores, Inc. $CASY

Jefferies Financial Group Inc. acquired a new stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 19,016 shares of the company’s stock, valued at approximately $15,114,000.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Casey’s General Stores during the 2nd quarter worth $2,759,895,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Casey’s General Stores by 179,938.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,659,164 shares of the company’s stock valued at $1,469,747,000 after acquiring an additional 2,657,687 shares during the period. Norges Bank purchased a new stake in shares of Casey’s General Stores during the fourth quarter valued at approximately $265,163,000. Bank of America Corp DE purchased a new stake in Casey’s General Stores during the 2nd quarter valued at $281,872,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Casey’s General Stores during the second quarter worth about $281,011,000. 85.63% of the stock is currently owned by institutional investors.

Casey’s General Stores Price Performance

NASDAQ CASY opened at $763.38 on Friday. The company has a 50-day moving average price of $833.65 and a 200-day moving average price of $781.50. Casey’s General Stores, Inc. has a 52 week low of $490.00 and a 52 week high of $927.85. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $28.25 billion, a P/E ratio of 39.84, a PEG ratio of 2.76 and a beta of 0.61.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results 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. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. The company had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.33 billion. During the same period in the previous year, the business posted $2.63 earnings per share. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. Equities research analysts anticipate that Casey’s General Stores, Inc. will post 21.11 earnings per share for the current year.

Casey’s General Stores Increases Dividend

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

Analysts Set New Price Targets

A number of research firms have commented on CASY. Wolfe Research reaffirmed an “outperform” rating and set a $1,069.00 price target on shares of Casey’s General Stores in a research report on Thursday, June 11th. Weiss Ratings cut Casey’s General Stores from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, July 21st. Wall Street Zen raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Evercore restated an “outperform” rating and issued a $990.00 price target on shares of Casey’s General Stores in a research note on Friday, June 12th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Casey’s General Stores from $719.00 to $975.00 and gave the company a “neutral” rating in a research report on Friday, June 12th. Fourteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $942.87.

Insider Activity

In related news, insider Katrina S. Lindsey sold 2,000 shares of the firm’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $800.00, for a total value of $1,600,000.00. Following the transaction, the insider directly owned 6,668 shares of the company’s stock, valued at approximately $5,334,400. This trade represents a 23.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of Casey’s General Stores stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $838.16, for a total value of $4,777,512.00. Following the transaction, the chief financial officer owned 29,677 shares in the company, valued at $24,874,074.32. This trade represents a 16.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 30,243 shares of company stock worth $24,421,877. Company insiders own 0.67% of the company’s stock.

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.