646 Shares in Casey’s General Stores, Inc. (NASDAQ:CASY) Purchased by Wallace Advisory Group LLC

Wallace Advisory Group LLC acquired a new position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 646 shares of the company’s stock, valued at approximately $246,000.

A number of other hedge funds have also made changes to their positions in the company. Congress Asset Management Co. MA purchased a new stake in shares of Casey’s General Stores during the first quarter worth approximately $112,081,000. Point72 Asset Management L.P. grew its holdings in shares of Casey’s General Stores by 561.7% during the fourth quarter. Point72 Asset Management L.P. now owns 273,168 shares of the company’s stock worth $75,050,000 after buying an additional 231,887 shares in the last quarter. Millennium Management LLC raised its position in shares of Casey’s General Stores by 3,846.1% in the second quarter. Millennium Management LLC now owns 172,320 shares of the company’s stock valued at $65,750,000 after buying an additional 176,920 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Casey’s General Stores by 113.0% in the first quarter. Principal Financial Group Inc. now owns 291,838 shares of the company’s stock worth $92,936,000 after buying an additional 154,803 shares in the last quarter. Finally, DAVENPORT & Co LLC boosted its position in 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 worth $34,284,000 after acquiring an additional 106,692 shares during the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. BMO Capital Markets increased their price objective on shares of 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. Royal Bank of Canada lifted their price objective on Casey’s General Stores from $393.00 to $403.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 5th. Benchmark reissued a “buy” rating and set a $410.00 price objective on shares of Casey’s General Stores in a research note on Tuesday, September 10th. Wells Fargo & Company lifted their price target on Casey’s General Stores from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Finally, Northcoast Research raised shares of Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $410.00 price objective for the company in a report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Casey’s General Stores currently has a consensus rating of “Moderate Buy” and an average price target of $407.64.

Insider Buying and Selling at Casey’s General Stores

In other news, insider Thomas P. Brennan, Jr. sold 3,000 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $380.24, for a total transaction of $1,140,720.00. Following the sale, the insider now owns 9,044 shares of the company’s stock, valued at $3,438,890.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Darren M. Rebelez sold 13,500 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $374.54, for a total transaction of $5,056,290.00. Following the completion of 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 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 stock in a transaction dated 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 sale, the insider now directly owns 9,044 shares in the company, valued at approximately $3,438,890.56. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by corporate insiders.

Casey’s General Stores Price Performance

Shares of CASY opened at $375.71 on Tuesday. The firm has a 50-day simple moving average of $373.70 and a two-hundred day simple moving average of $351.20. The stock has a market cap of $13.94 billion, a PE ratio of 27.98 and a beta of 0.80. Casey’s General Stores, Inc. has a 1-year low of $260.13 and a 1-year high of $401.07. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.84 and a quick ratio of 0.44.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Wednesday, September 4th. The company reported $4.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.54 by $0.29. Casey’s General Stores had a return on equity of 17.07% and a net margin of 3.40%. The company had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same quarter in the previous year, the company earned $4.52 earnings per share. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. As a group, analysts forecast that Casey’s General Stores, Inc. will post 14.01 EPS for the current year.

Casey’s General Stores Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date is Friday, November 1st. Casey’s General Stores’s dividend payout ratio (DPR) is 14.89%.

Casey’s General Stores Profile

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.