State of Alaska Department of Revenue Purchases 290 Shares of Casey’s General Stores, Inc. (NASDAQ:CASY)

State of Alaska Department of Revenue boosted its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 2.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,461 shares of the company’s stock after acquiring an additional 290 shares during the quarter. State of Alaska Department of Revenue’s holdings in Casey’s General Stores were worth $5,056,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

CASY has been the subject of a number of research reports. Benchmark restated a “buy” rating and set a $410.00 target price on shares of Casey’s General Stores in a research note on Tuesday, September 10th. JPMorgan Chase & Co. downgraded shares of Casey’s General Stores from a “neutral” rating to an “underweight” rating and raised their price objective for the stock from $300.00 to $337.00 in a research report on Thursday, September 19th. Royal Bank of Canada upped their target price on Casey’s General Stores from $393.00 to $403.00 and gave the company a “sector perform” rating in a research report on Thursday, September 5th. Melius Research started coverage on Casey’s General Stores in a research note on Monday, September 23rd. They issued a “buy” rating and a $435.00 price target for the company. Finally, StockNews.com downgraded Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $408.09.

Casey’s General Stores Stock Performance

Shares of Casey’s General Stores stock opened at $398.51 on Wednesday. The company has a 50 day moving average of $377.21 and a 200-day moving average of $361.79. The company has a market cap of $14.79 billion, a PE ratio of 29.67 and a beta of 0.80. The company has a current ratio of 0.84, a quick ratio of 0.44 and a debt-to-equity ratio of 0.44. Casey’s General Stores, Inc. has a 1-year low of $266.55 and a 1-year high of $401.17.

Casey’s General Stores (NASDAQ:CASY) last released 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. Casey’s General Stores had a return on equity of 17.07% and a net margin of 3.40%. The firm had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.15 billion. During the same period in the prior year, the company earned $4.52 earnings per share. The company’s quarterly revenue was up 5.9% on a year-over-year basis. As a group, equities research analysts forecast 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 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 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend is Friday, November 1st. Casey’s General Stores’s payout ratio is 14.89%.

Insiders Place Their Bets

In related news, CEO Darren M. Rebelez sold 13,500 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 $374.54, for a total transaction of $5,056,290.00. Following the sale, the chief executive officer now directly owns 73,838 shares of the company’s stock, valued at approximately $27,655,284.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Casey’s General Stores 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 value of $5,056,290.00. Following the sale, the chief executive officer now owns 73,838 shares in the company, valued at $27,655,284.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Mike Spanos bought 267 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were bought at an average cost of $376.18 per share, for a total transaction of $100,440.06. Following the purchase, the director now owns 2,594 shares of the company’s stock, valued at approximately $975,810.92. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.47% of the company’s stock.

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.