Jupiter Asset Management Ltd. Shows Confidence in Casey’s General Stores with Additional Stake Acquisition

As of the first quarter, Jupiter Asset Administration Ltd. has added an extra stake in shares of Casey’s Basic Shops, Inc. (NASDAQ:CASY), as confirmed by the corporate in its latest 13F submitting with the Securities and Trade Fee (SEC). This transfer highlights Jupiter Asset Administration Ltd.’s confidence sooner or later prospects of Casey’s Basic Shops.

Jupiter Asset Administration Ltd. acquired 8,499 shares of Casey’s Basic Shops, Inc. throughout this era, that are estimated to be valued at roughly $1,838,000. By investing on this stake, Jupiter Asset Administration Ltd. has demonstrated their perception within the potential development and efficiency of the corporate.

Casey’s Basic Shops (NASDAQ:CASY) lately launched its earnings outcomes on June seventh, offering insights into its monetary efficiency for the quarter. The corporate reported earnings per share (EPS) of $1.49 for the quarter, falling wanting the consensus estimate of $1.64 by ($0.15). Regardless of lacking expectations, Casey’s Basic Shops generated income amounting to $3.33 billion throughout this era.

The consensus estimate for income was barely increased at $3.38 billion; nevertheless, regardless of this distinction, it is very important be aware that Casey’s Basic Shops nonetheless skilled a lower in quarterly income in comparison with the prior yr by 3.8%. In distinction, the web margin for this era stood at 2.96%, whereas return on fairness was recorded as reaching 17.13%.

General, these figures point out blended outcomes for Casey’s Basic Shops by way of assembly market projections and sustaining income development in comparison with earlier years.

Traders and equities analysis analysts will now shift their focus in direction of evaluating Casey’s Basic Shops’ efficiency over the rest of the fiscal yr. Primarily based on common analyst predictions, it’s anticipated that they are going to put up EPS of roughly 10.76 for this present fiscal yr.

Because the market continues to evolve, it is going to be vital for Casey’s Basic Shops to exhibit its potential to adapt and develop with a purpose to entice traders’ consideration. Jupiter Asset Administration Ltd.’s latest acquisition of shares within the firm suggests confidence in its long-term potential, and it is going to be fascinating to see how these investments fare over time.

Traders and people might discover extra detailed evaluation and insights on Casey’s Basic Shops by way of our newest analysis report on CASY. This report offers a complete overview of the corporate’s present standing, together with monetary efficiency, market evaluation, and development prospects.

Casey’s Basic Shops, Inc.


Sturdy Purchase

Up to date on: 19/08/2023

Value Goal

Present $246.89

Concensus $263.33

Low $228.00

Median $269.00

Excessive $294.00

Present extra

Social Sentiments

We didn’t discover social sentiment knowledge for this inventory

Analyst Scores

Analyst / agency Ranking
Krisztina Katai
Deutsche Financial institution
Krisztina Katai
Deutsche Financial institution
Bonnie Herzog
Wells Fargo
Ben Bienvenu
RBC Capital Purchase

Present extra

Latest Modifications in Investor Positions and Analyst Views on Casey’s Basic Shops: A Perplexing and Speculative Outlook

In latest months, a number of institutional traders and hedge funds have made important adjustments to their positions in Casey’s Basic Shops. AdvisorNet Monetary Inc raised its place within the firm by a staggering 2,318.2% throughout the first quarter of this yr. This transfer resulted in AdvisorNet Monetary Inc now proudly owning 266 shares of Casey’s Basic Shops, valued at $58,000 after buying an extra 255 shares within the final quarter.

State Board of Administration of Florida Retirement System additionally elevated its place in Casey’s Basic Shops by 0.6% throughout the fourth quarter. They now personal 40,164 shares of the corporate’s inventory, price $9,011,000 after buying an extra 250 shares throughout that interval.

Dfpg Investments LLC took a distinct method and purchased a brand new place in Casey’s Basic Shops throughout the fourth quarter. Their buy was valued at $519,000.

Raymond James & Associates adopted go well with and raised its place in Casey’s Basic Shops by 5.0% throughout the fourth quarter as properly. They at present maintain 182,895 shares of the corporate’s inventory with a worth of $41,033,000 after buying an extra 8,715 shares.

Lastly, Bridges Funding Administration Inc. elevated their place in Casey’s Basic Shops by 1.7% throughout the fourth quarter too. They now personal 88,235 shares of the corporate’s inventory price $19,796,000 after buying an extra 1,464 shares throughout that point.

These strikes point out robust curiosity from each hedge funds and institutional traders who now collectively possess roughly 85.61% of Casey’s Basic Shops’ inventory.

On August 18th , NASDAQ CASY opened at $244.96 per share with its recorded transferring averages displaying optimistic outcomes; a 50-day transferring common value of $240.71 and a 200-day transferring common value of $228.33. The market cap for Casey’s Basic Shops, Inc. stands at $9.16 billion with a PE ratio of 20.55 and a beta of 0.83.

Casey’s Basic Shops has skilled a various vary in inventory efficiency over the previous yr, reaching as little as $197.22 per share and as excessive as $257.86 per share.

The corporate lately introduced their quarterly dividend fee, which was distributed on Tuesday, August fifteenth. Stockholders who held shares as of report on Tuesday, August 1st obtained a dividend of $0.43 per share. This represents an annualized dividend of $1.72 and a dividend yield of 0.70%. This is a rise in comparison with Casey’s Basic Retailer’s earlier quarterly dividend of $0.38.

Monetary analysts have additionally supplied their opinions on Casey’s Basic Shops’ inventory in latest weeks. Deutsche Financial institution Aktiengesellschaft decreased their goal value from $294 to $278 per share in June whereas Benchmark issued a “purchase” score and set a value goal of $275 for the corporate in July.

Royal Financial institution of Canada was extra optimistic and raised their value goal on shares of Casey’s Basic Shops from $273 to $280 in Could.

Nonetheless, Wells Fargo & Firm took a extra conservative method by reducing their value goal from $270 to $250 in June.

General, Casey’s Basic Shops at present holds a consensus score of “Average Purchase” based mostly on knowledge from Bloomberg.com, with ten equities analysts protecting the inventory.

The perplexing nature and variety throughout the hedge funds and institutional traders’ positions together with various viewpoints from monetary analysts make it troublesome to find out the long run trajectory of Casey’s Basic Shops’ inventory, inflicting appreciable intrigue and hypothesis amongst traders on this sector.


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