Headlands Technologies LLC Buys New Position in Casey’s General Stores, Inc. (NASDAQ:CASY)

Headlands Technologies LLC bought a new position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,149 shares of the company’s stock, valued at approximately $438,000.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Casey’s General Stores during the 4th quarter worth approximately $115,799,000. Congress Asset Management Co. MA acquired a new stake in Casey’s General Stores in the first quarter worth $112,081,000. Point72 Asset Management L.P. increased its stake in Casey’s General Stores by 561.7% in the fourth quarter. Point72 Asset Management L.P. now owns 273,168 shares of the company’s stock valued at $75,050,000 after purchasing an additional 231,887 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Casey’s General Stores by 113.0% during the first quarter. Principal Financial Group Inc. now owns 291,838 shares of the company’s stock valued at $92,936,000 after purchasing an additional 154,803 shares during the period. Finally, DAVENPORT & Co LLC raised its holdings in shares of Casey’s General Stores by 11,242.6% during the first quarter. DAVENPORT & Co LLC now owns 107,641 shares of the company’s stock valued at $34,284,000 after purchasing an additional 106,692 shares during the period. 85.63% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Darren M. Rebelez sold 13,500 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $374.54, for a total value of $5,056,290.00. Following the transaction, the chief executive officer now directly owns 73,838 shares of the company’s stock, valued at approximately $27,655,284.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Darren M. Rebelez sold 13,500 shares of Casey’s General Stores stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $374.54, for a total value of $5,056,290.00. Following the sale, the chief executive officer now owns 73,838 shares of the company’s stock, valued at approximately $27,655,284.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas P. Brennan, Jr. sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $380.24, for a total value of $1,140,720.00. Following the completion of the transaction, the insider now owns 9,044 shares in the company, valued at approximately $3,438,890.56. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Deutsche Bank Aktiengesellschaft boosted their target price on Casey’s General Stores from $420.00 to $444.00 and gave the company a “buy” rating in a research report on Monday, July 29th. BMO Capital Markets boosted their price objective on Casey’s General Stores from $305.00 to $400.00 and gave the company a “market perform” rating in a report on Thursday, June 13th. Benchmark reaffirmed a “buy” rating and set a $410.00 target price on shares of Casey’s General Stores in a research report on Tuesday. JPMorgan Chase & Co. lifted their price target on shares of Casey’s General Stores from $298.00 to $300.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Finally, StockNews.com downgraded shares of Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 3rd. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $401.20.

Casey’s General Stores Stock Performance

Shares of CASY stock opened at $382.07 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.84 and a quick ratio of 0.44. The firm has a 50-day moving average of $373.69 and a 200-day moving average of $344.44. Casey’s General Stores, Inc. has a one year low of $260.13 and a one year high of $401.07. The company has a market cap of $14.18 billion, a P/E ratio of 28.45, a P/E/G ratio of 2.71 and a beta of 0.80.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Wednesday, September 4th. The company reported $4.83 EPS for the quarter, beating the consensus estimate of $4.54 by $0.29. The firm had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.15 billion. Casey’s General Stores had a net margin of 3.40% and a return on equity of 17.07%. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter last year, the business posted $4.52 EPS. Equities research analysts forecast that Casey’s General Stores, Inc. will post 13.45 EPS for the current fiscal year.

Casey’s General Stores Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a $0.50 dividend. The ex-dividend date is Friday, November 1st. This represents a $2.00 dividend on an annualized basis and a yield of 0.52%. Casey’s General Stores’s dividend payout ratio (DPR) is presently 14.89%.

About Casey’s General Stores

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. Its stores offer pizza, donuts, breakfast items, and sandwiches; and tobacco and nicotine products. The company's stores provide soft drinks, energy, water, sports drinks, juices, coffee, and tea and dairy products; beer, wine, and spirits; snacks, candy, packaged bakery, and other food items; ice, ice cream, meals, and appetizers; health and beauty aids, automotive products, electronic accessories, housewares, and pet supplies; and ATM, lotto/lottery, and prepaid cards.