Raleigh Capital Management Inc. Grows Position in Casey’s General Stores, Inc. (NASDAQ:CASY)

Raleigh Capital Management Inc. increased its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 12.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 354 shares of the company’s stock after acquiring an additional 39 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Casey’s General Stores were worth $133,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Evernest Financial Advisors LLC bought a new stake in Casey’s General Stores in the 3rd quarter worth approximately $12,251,000. Whittier Trust Co. of Nevada Inc. increased its position in Casey’s General Stores by 3.4% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 14,197 shares of the company’s stock worth $5,334,000 after purchasing an additional 466 shares during the last quarter. Whittier Trust Co. raised its stake in Casey’s General Stores by 4.7% during the third quarter. Whittier Trust Co. now owns 26,598 shares of the company’s stock valued at $9,993,000 after purchasing an additional 1,183 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Casey’s General Stores by 400.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 616 shares of the company’s stock valued at $231,000 after buying an additional 493 shares in the last quarter. Finally, Raymond James & Associates raised its position in Casey’s General Stores by 2.9% during the third quarter. Raymond James & Associates now owns 219,462 shares of the company’s stock valued at $82,454,000 after purchasing an additional 6,170 shares during the period. 85.63% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on CASY. 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. Evercore ISI raised their target price on shares of Casey’s General Stores from $435.00 to $440.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Royal Bank of Canada increased 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 note on Thursday, September 5th. Deutsche Bank Aktiengesellschaft lifted 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. Finally, Wells Fargo & Company raised their price target on Casey’s General Stores from $415.00 to $425.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $408.09.

Insider Buying and Selling

In other Casey’s General Stores news, insider Thomas P. Brennan, Jr. sold 3,000 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 $380.24, for a total transaction 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 trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Darren M. Rebelez sold 13,500 shares of the firm’s stock in a transaction that occurred on 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Thomas P. Brennan, Jr. sold 3,000 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 $380.24, for a total transaction of $1,140,720.00. Following the transaction, the insider now directly owns 9,044 shares of the company’s stock, valued at approximately $3,438,890.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.47% of the stock is owned by corporate insiders.

Casey’s General Stores Price Performance

Shares of CASY opened at $390.42 on Wednesday. Casey’s General Stores, Inc. has a twelve month low of $260.13 and a twelve month high of $401.07. The company has a 50 day moving average of $375.05 and a two-hundred day moving average of $358.38. The company has a quick ratio of 0.44, a current ratio of 0.84 and a debt-to-equity ratio of 0.44. The company has a market cap of $14.49 billion, a price-to-earnings ratio of 29.07 and a beta of 0.80.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Wednesday, September 4th. The company reported $4.83 earnings per share for the quarter, topping the consensus estimate of $4.54 by $0.29. The firm had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.15 billion. Casey’s General Stores had a return on equity of 17.07% and a net margin of 3.40%. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the previous year, the business earned $4.52 EPS. As a group, analysts predict that Casey’s General Stores, Inc. will post 14.01 earnings per share for the current fiscal 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 dividend yield of 0.51%. The ex-dividend date of this dividend 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.