Casey’s General Stores, Inc. $CASY Shares Bought by Lombard Odier Asset Management USA Corp

Lombard Odier Asset Management USA Corp raised its holdings in Casey’s General Stores, Inc. (NASDAQ:CASY) by 156.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,438 shares of the company’s stock after buying an additional 2,096 shares during the period. Lombard Odier Asset Management USA Corp’s holdings in Casey’s General Stores were worth $2,502,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CASY. Whipplewood Advisors LLC purchased a new stake in shares of Casey’s General Stores during the first quarter worth $33,000. RMG Wealth Management LLC boosted its holdings in Casey’s General Stores by 250.0% in the first quarter. RMG Wealth Management LLC now owns 56 shares of the company’s stock valued at $41,000 after purchasing an additional 40 shares during the period. ORG Partners LLC grew its stake in Casey’s General Stores by 47.6% during the 4th quarter. ORG Partners LLC now owns 62 shares of the company’s stock worth $34,000 after purchasing an additional 20 shares in the last quarter. Western Pacific Wealth Management LP acquired a new position in Casey’s General Stores during the 1st quarter worth $52,000. Finally, Larson Financial Group LLC increased its holdings in Casey’s General Stores by 252.4% during the 4th quarter. Larson Financial Group LLC now owns 74 shares of the company’s stock worth $41,000 after purchasing an additional 53 shares during the period. Institutional investors and hedge funds own 85.63% of the company’s stock.

Casey’s General Stores Stock Down 1.6%

Shares of NASDAQ CASY opened at $861.63 on Friday. The business has a 50-day moving average of $821.67 and a two-hundred day moving average of $742.33. The company has a market capitalization of $31.89 billion, a price-to-earnings ratio of 44.97, a price-to-earnings-growth ratio of 2.58 and a beta of 0.62. Casey’s General Stores, Inc. has a 1 year low of $490.00 and a 1 year high of $927.85. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.60.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $3.31 by $1.06. The business had revenue of $4.57 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.63 EPS. On average, analysts forecast that Casey’s General Stores, Inc. will post 21.14 earnings per share for the current fiscal year.

Casey’s General Stores Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Saturday, August 1st will be paid a $0.65 dividend. This is an increase 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 is Friday, July 31st. Casey’s General Stores’s payout ratio is currently 11.90%.

Insider Activity at Casey’s General Stores

In other news, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the company’s 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 completion of the transaction, the chief financial officer owned 29,677 shares in the company, valued at approximately $24,874,074.32. This represents a 16.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Allison M. Wing sold 530 shares of the company’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $837.58, for a total transaction of $443,917.40. Following the completion of the transaction, the director owned 3,042 shares of the company’s stock, valued at approximately $2,547,918.36. The trade was a 14.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 30,243 shares of company stock valued at $24,421,877 in the last quarter. Company insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group increased their price target on Casey’s General Stores from $695.00 to $795.00 and gave the company a “neutral” rating in a research report on Thursday, June 25th. 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. JPMorgan Chase & Co. upped their target price on shares of Casey’s General Stores from $719.00 to $975.00 and gave the stock a “neutral” rating in a research note on Friday, June 12th. KeyCorp raised their target price on shares of Casey’s General Stores from $950.00 to $970.00 and gave the company an “overweight” rating in a report on Thursday, June 11th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $1,000.00 price target on shares of Casey’s General Stores in a research note on Monday, June 15th. Fourteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $940.00.

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.