Casey’s General Stores, Inc. (NASDAQ:CASY) Stake Boosted by Intech Investment Management LLC

Intech Investment Management LLC grew its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 18.1% during the third quarter, Holdings Channel reports. The firm owned 5,129 shares of the company’s stock after purchasing an additional 786 shares during the period. Intech Investment Management LLC’s holdings in Casey’s General Stores were worth $1,927,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CASY. Park Place Capital Corp bought a new stake in shares of Casey’s General Stores in the second quarter valued at about $31,000. Advisors Asset Management Inc. bought a new position in Casey’s General Stores during the first quarter worth about $32,000. Innealta Capital LLC acquired a new stake in shares of Casey’s General Stores during the second quarter worth $32,000. Bank & Trust Co acquired a new position in Casey’s General Stores during the second quarter worth $40,000. Finally, Venturi Wealth Management LLC boosted its position in Casey’s General Stores by 941.7% during the third quarter. Venturi Wealth Management LLC now owns 125 shares of the company’s stock valued at $47,000 after purchasing an additional 113 shares during the last quarter. 85.63% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Casey’s General Stores

In related news, Director Mike Spanos acquired 267 shares of Casey’s General Stores stock in a transaction on Wednesday, September 18th. The stock was bought at an average cost of $376.18 per share, for a total transaction of $100,440.06. Following the completion of the transaction, the director now owns 2,594 shares of the company’s stock, valued at approximately $975,810.92. The trade was a 11.47 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Darren M. Rebelez sold 13,500 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $27,655,284.52. This represents a 15.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.56% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CASY shares. 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 note on Wednesday, October 16th. Wells Fargo & Company raised 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 research note on Friday, September 6th. Benchmark reiterated a “buy” rating and set a $410.00 price target on shares of Casey’s General Stores in a report on Tuesday, September 10th. Gordon Haskett started coverage on shares of Casey’s General Stores in a research report on Monday, November 4th. They set a “hold” rating and a $400.00 price objective on the stock. Finally, Royal Bank of Canada lifted their price target on Casey’s General Stores from $393.00 to $403.00 and gave the company a “sector perform” rating in a research note on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Casey’s General Stores has a consensus rating of “Moderate Buy” and a consensus target price of $408.25.

Casey’s General Stores Stock Performance

CASY stock opened at $427.88 on Monday. The stock’s 50 day simple moving average is $390.34 and its 200 day simple moving average is $373.12. The company has a current ratio of 0.84, a quick ratio of 0.44 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $15.88 billion, a PE ratio of 31.14 and a beta of 0.79. Casey’s General Stores, Inc. has a 12-month low of $266.56 and a 12-month high of $428.61.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results on Wednesday, September 4th. The company reported $4.83 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 company had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same period in the previous year, the firm earned $4.52 EPS. The firm’s revenue was up 5.9% compared to the same quarter last year. As a group, research analysts forecast that Casey’s General Stores, Inc. will post 14.24 earnings per share for the current fiscal year.

Casey’s General Stores Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend was Friday, November 1st. Casey’s General Stores’s dividend payout ratio (DPR) is currently 14.56%.

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.