Hsbc Holdings PLC Invests $221,000 in Casey’s General Stores, Inc. $CASY

Hsbc Holdings PLC acquired a new position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 509 shares of the company’s stock, valued at approximately $221,000.

Several other institutional investors have also bought and sold shares of the stock. Wellington Management Group LLP raised its position in Casey’s General Stores by 190.6% in the 1st quarter. Wellington Management Group LLP now owns 1,244,311 shares of the company’s stock valued at $540,081,000 after purchasing an additional 816,110 shares during the last quarter. JPMorgan Chase & Co. raised its position in Casey’s General Stores by 42.0% in the 1st quarter. JPMorgan Chase & Co. now owns 1,036,426 shares of the company’s stock valued at $449,851,000 after purchasing an additional 306,628 shares during the last quarter. Raymond James Financial Inc. raised its position in Casey’s General Stores by 8.9% in the 1st quarter. Raymond James Financial Inc. now owns 649,815 shares of the company’s stock valued at $282,045,000 after purchasing an additional 52,939 shares during the last quarter. GAMMA Investing LLC raised its position in Casey’s General Stores by 54,448.8% in the 1st quarter. GAMMA Investing LLC now owns 543,852 shares of the company’s stock valued at $236,054,000 after purchasing an additional 542,855 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Casey’s General Stores by 51.5% in 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 purchasing an additional 175,372 shares during the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

Casey’s General Stores Trading Up 1.5%

NASDAQ CASY opened at $505.64 on Friday. The stock has a 50-day simple moving average of $513.38 and a 200 day simple moving average of $467.77. The company has a market capitalization of $18.80 billion, a PE ratio of 34.54 and a beta of 0.66. The company has a current ratio of 0.92, a quick ratio of 0.48 and a debt-to-equity ratio of 0.69. Casey’s General Stores, Inc. has a 12 month low of $362.42 and a 12 month high of $531.24.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings data on Monday, June 9th. The company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.69. Casey’s General Stores had a return on equity of 16.28% and a net margin of 3.43%.The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.95 billion. During the same quarter in the prior year, the company posted $2.34 earnings per share. The firm’s revenue was up 10.9% on a year-over-year basis. Research analysts forecast that Casey’s General Stores, Inc. will post 13.94 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Royal Bank Of Canada lifted their price objective on Casey’s General Stores from $468.00 to $542.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 9th. KeyCorp lifted their price objective on Casey’s General Stores from $550.00 to $575.00 and gave the company an “overweight” rating in a research report on Friday, July 25th. Wells Fargo & Company lifted their price objective on Casey’s General Stores from $460.00 to $540.00 and gave the company an “overweight” rating in a research report on Wednesday, June 11th. BMO Capital Markets lifted their price objective on Casey’s General Stores from $450.00 to $515.00 and gave the company a “market perform” rating in a research report on Wednesday, June 11th. Finally, The Goldman Sachs Group boosted their target price on Casey’s General Stores from $385.00 to $450.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 11th. Eight research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Casey’s General Stores has an average rating of “Moderate Buy” and a consensus price target of $467.33.

Insider Activity at Casey’s General Stores

In related news, insider Katrina S. Lindsey sold 2,000 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $506.07, for a total transaction of $1,012,140.00. Following the completion of the transaction, the insider directly owned 4,636 shares of the company’s stock, valued at approximately $2,346,140.52. This represents a 30.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Stephen P. Bramlage, Jr. sold 8,478 shares of the stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $509.21, for a total value of $4,317,082.38. Following the transaction, the chief financial officer directly owned 26,754 shares of the company’s stock, valued at $13,623,404.34. This trade represents a 24.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,646 shares of company stock valued at $22,136,614 over the last ninety days. Company insiders own 0.54% of the company’s stock.

Casey’s General Stores 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.