Leibman Financial Services Inc. Buys Shares of 2,579 Casey’s General Stores, Inc. $CASY

Leibman Financial Services Inc. bought a new stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) in the second quarter, HoldingsChannel.com reports. The firm bought 2,579 shares of the company’s stock, valued at approximately $1,316,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Wellington Management Group LLP raised its stake in Casey’s General Stores by 190.6% during the 1st quarter. Wellington Management Group LLP now owns 1,244,311 shares of the company’s stock valued at $540,081,000 after buying an additional 816,110 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Casey’s General Stores by 42.0% during the 1st quarter. JPMorgan Chase & Co. now owns 1,036,426 shares of the company’s stock valued at $449,851,000 after buying an additional 306,628 shares during the last quarter. Raymond James Financial Inc. raised its stake in Casey’s General Stores by 8.9% during the 1st quarter. Raymond James Financial Inc. now owns 649,815 shares of the company’s stock valued at $282,045,000 after buying an additional 52,939 shares during the last quarter. GAMMA Investing LLC raised its stake in Casey’s General Stores by 54,448.8% during the 1st quarter. GAMMA Investing LLC now owns 543,852 shares of the company’s stock valued at $236,054,000 after buying an additional 542,855 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Casey’s General Stores by 51.5% during the 1st quarter. Bank of New York Mellon Corp now owns 515,603 shares of the company’s stock valued at $223,792,000 after buying an additional 175,372 shares during the last quarter. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CASY has been the subject of a number of research reports. Evercore ISI boosted their target price on shares of Casey’s General Stores from $560.00 to $580.00 and gave the company an “outperform” rating in a research note on Wednesday, September 10th. Jefferies Financial Group boosted their price objective on shares of Casey’s General Stores from $575.00 to $600.00 and gave the company a “buy” rating in a research report on Tuesday, September 9th. BMO Capital Markets upped their target price on shares of Casey’s General Stores from $515.00 to $540.00 and gave the stock a “market perform” rating in a report on Wednesday, September 10th. The Goldman Sachs Group upped 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 report on Wednesday, September 10th. Finally, Wall Street Zen upgraded shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research note on Saturday, June 14th. Eight equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $505.25.

Insider Transactions at Casey’s General Stores

In related news, Director Mike Spanos bought 200 shares of the company’s stock in a transaction on Monday, June 30th. The shares were acquired at an average cost of $503.18 per share, for a total transaction of $100,636.00. Following the purchase, the director directly owned 3,560 shares of the company’s stock, valued at approximately $1,791,320.80. The trade was a 5.95% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Stephen P. Bramlage, Jr. sold 760 shares of the company’s stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $507.56, for a total transaction of $385,745.60. Following the completion of the transaction, the chief financial officer owned 25,994 shares in the company, valued at $13,193,514.64. This represents a 2.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

Casey’s General Stores Stock Performance

Casey’s General Stores stock opened at $561.18 on Wednesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.03 and a quick ratio of 0.61. Casey’s General Stores, Inc. has a 1-year low of $362.42 and a 1-year high of $565.71. The firm has a market capitalization of $20.86 billion, a P/E ratio of 36.02 and a beta of 0.66. The company’s 50-day moving average is $517.80 and its 200 day moving average is $474.47.

Casey’s General Stores (NASDAQ:CASY) last issued its earnings results on Monday, September 8th. The company reported $5.77 EPS for the quarter, topping analysts’ consensus estimates of $5.02 by $0.75. The business had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.47 billion. Casey’s General Stores had a net margin of 3.54% and a return on equity of 16.73%. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.83 EPS. Research analysts forecast that Casey’s General Stores, Inc. will post 13.94 EPS for the current year.

Casey’s General Stores Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Saturday, November 1st will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Friday, October 31st. Casey’s General Stores’s dividend payout ratio is currently 14.63%.

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.