9,577 Shares in Casey’s General Stores, Inc. (NASDAQ:CASY) Purchased by Point72 Asset Management L.P.

Point72 Asset Management L.P. bought a new stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) in the second quarter, Holdings Channel reports. The fund bought 9,577 shares of the company’s stock, valued at approximately $3,654,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hsbc Holdings PLC increased its holdings in Casey’s General Stores by 44.1% during the 4th quarter. Hsbc Holdings PLC now owns 7,247 shares of the company’s stock worth $1,996,000 after acquiring an additional 2,219 shares during the period. Stifel Financial Corp increased its holdings in shares of Casey’s General Stores by 12.8% in the fourth quarter. Stifel Financial Corp now owns 23,004 shares of the company’s stock worth $6,330,000 after purchasing an additional 2,612 shares during the period. KBC Group NV bought a new position in Casey’s General Stores in the 4th quarter worth about $189,000. 1832 Asset Management L.P. grew its position in Casey’s General Stores by 0.3% in the fourth quarter. 1832 Asset Management L.P. now owns 55,776 shares of the company’s stock worth $15,324,000 after acquiring an additional 175 shares in the last quarter. Finally, Morningstar Investment Services LLC bought a new stake in shares of Casey’s General Stores in the 4th quarter valued at about $812,000. 85.63% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Benchmark reaffirmed a “buy” rating and issued a $410.00 price target on shares of Casey’s General Stores in a research note on Tuesday, September 10th. Wells Fargo & Company upped their price target on shares of Casey’s General Stores from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Evercore ISI raised their price target on shares of Casey’s General Stores from $410.00 to $435.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Jefferies Financial Group boosted their price objective on shares of Casey’s General Stores from $342.00 to $445.00 and gave the company a “buy” rating in a research report on Wednesday, June 12th. Finally, Northcoast Research upgraded shares of Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $410.00 target price for the company in a report on Thursday, July 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $407.64.

Insider Activity

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

Casey’s General Stores Price Performance

CASY stock opened at $370.17 on Thursday. 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, Inc. has a 1 year low of $260.13 and a 1 year high of $401.07. The firm has a 50-day moving average of $373.64 and a 200 day moving average of $351.84. The company has a market cap of $13.74 billion, a P/E ratio of 27.56 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 earnings per share (EPS) for the quarter, topping 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 business had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter in the prior 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. On average, sell-side analysts forecast that Casey’s General Stores, Inc. will post 14.01 EPS for the current year.

Casey’s General Stores Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Friday, November 1st. Casey’s General Stores’s dividend payout ratio is 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.