Casey’s General Stores, Inc. (NASDAQ:CASY) Shares Sold by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. reduced its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 25.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,636 shares of the company’s stock after selling 546 shares during the period. Lecap Asset Management Ltd.’s holdings in Casey’s General Stores were worth $615,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Park Place Capital Corp purchased a new stake in Casey’s General Stores during the second quarter worth about $31,000. Advisors Asset Management Inc. purchased a new stake in Casey’s General Stores during the 1st quarter worth about $32,000. Innealta Capital LLC purchased a new stake in shares of Casey’s General Stores during the second quarter worth about $32,000. Bank & Trust Co acquired a new position in Casey’s General Stores in the 2nd quarter valued at $40,000. Finally, V Square Quantitative Management LLC increased its stake in Casey’s General Stores by 22.5% in the third quarter. V Square Quantitative Management LLC now owns 158 shares of the company’s stock valued at $59,000 after purchasing an additional 29 shares during the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

Insider Activity

In related news, Director Mike Spanos bought 267 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were acquired at an average cost of $376.18 per share, for a total transaction of $100,440.06. Following the acquisition, the director now directly owns 2,594 shares of the company’s stock, valued at $975,810.92. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Mike Spanos bought 267 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were acquired at an average cost of $376.18 per share, with a total value of $100,440.06. Following the completion of the transaction, the director now directly owns 2,594 shares in the company, valued at approximately $975,810.92. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas P. Brennan, Jr. sold 3,000 shares of the business’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 transaction of $1,140,720.00. Following the sale, the insider now owns 9,044 shares in the company, valued at $3,438,890.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.

Casey’s General Stores Stock Down 1.0 %

CASY opened at $386.62 on Friday. The stock has a market cap of $14.35 billion, a P/E ratio of 28.79 and a beta of 0.80. 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 12 month low of $265.65 and a 12 month high of $401.07. The stock’s 50 day moving average price is $376.16 and its 200 day moving average price is $359.31.

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, beating the consensus estimate 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 analysts’ expectations of $4.15 billion. During the same quarter last year, the business posted $4.52 earnings per share. The company’s quarterly revenue was up 5.9% on a year-over-year basis. As a group, research analysts predict that Casey’s General Stores, Inc. will post 14.01 earnings per share for the current year.

Casey’s General Stores Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $2.00 annualized dividend and a dividend yield of 0.52%. Casey’s General Stores’s dividend payout ratio is currently 14.89%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CASY shares. Deutsche Bank Aktiengesellschaft increased their price target on shares of Casey’s General Stores from $420.00 to $444.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. downgraded shares of Casey’s General Stores from a “neutral” rating to an “underweight” rating and increased their price objective for the company from $300.00 to $337.00 in a research report on Thursday, September 19th. Royal Bank of Canada lifted their price target on shares of 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. Evercore ISI increased their price target 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. Finally, Benchmark restated 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Casey’s General Stores presently has an average rating of “Moderate Buy” and an average target price of $408.09.

Casey’s General Stores Company 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.