Landscape Capital Management L.L.C. Purchases Shares of 7,943 Casey’s General Stores, Inc. $CASY

Landscape Capital Management L.L.C. purchased a new position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 7,943 shares of the company’s stock, valued at approximately $6,313,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Korea Investment CORP purchased a new position in shares of Casey’s General Stores during the 2nd quarter valued at about $41,476,000. EP Wealth Advisors LLC bought a new stake in Casey’s General Stores in the 2nd quarter worth approximately $7,673,000. Ieq Capital LLC purchased a new stake in Casey’s General Stores in the second quarter worth approximately $6,073,000. Callan Family Office LLC purchased a new stake in Casey’s General Stores in the second quarter worth approximately $1,596,000. Finally, C M Bidwell & Associates Ltd. bought a new position in Casey’s General Stores during the second quarter valued at approximately $269,000. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CASY has been the topic of several research reports. William Blair began coverage on shares of Casey’s General Stores in a research note on Wednesday, May 20th. They set an “outperform” rating on the stock. UBS Group upped their price objective on shares of Casey’s General Stores from $805.00 to $945.00 and gave the company a “neutral” rating in a research note on Thursday, June 11th. Wall Street Zen raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Zacks Research lowered shares of Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Finally, KeyCorp lifted their target price on shares of Casey’s General Stores from $950.00 to $970.00 and gave the stock an “overweight” rating in a research report on Thursday, June 11th. Fourteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Casey’s General Stores presently has an average rating of “Moderate Buy” and a consensus target price of $944.20.

Insider Transactions at Casey’s General Stores

In related news, insider Katrina S. Lindsey sold 2,000 shares of the business’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $800.00, for a total transaction of $1,600,000.00. Following the transaction, the insider owned 6,668 shares in the company, valued at $5,334,400. The trade was a 23.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the business’s stock in a transaction that occurred 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 directly 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. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 30,243 shares of company stock valued at $24,421,877. 0.67% of the stock is currently owned by insiders.

Casey’s General Stores Trading Up 0.9%

Shares of CASY stock opened at $835.74 on Friday. The stock has a market capitalization of $30.93 billion, a PE ratio of 43.62, a P/E/G ratio of 2.83 and a beta of 0.61. Casey’s General Stores, Inc. has a 1-year low of $490.00 and a 1-year high of $927.85. The business has a 50-day moving average of $837.28 and a 200 day moving average of $775.89. 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 posted its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.31 by $1.06. The business had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.33 billion. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.Casey’s General Stores’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period last year, the company earned $2.63 EPS. As a group, sell-side 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 business also recently disclosed 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. 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 of this dividend was Friday, July 31st. Casey’s General Stores’s payout ratio is currently 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.