Venturi Wealth Management LLC Grows Stock Holdings in Casey’s General Stores, Inc. (NASDAQ:CASY)

Venturi Wealth Management LLC grew its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 941.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 125 shares of the company’s stock after purchasing an additional 113 shares during the quarter. Venturi Wealth Management LLC’s holdings in Casey’s General Stores were worth $47,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in CASY. Jag Capital Management LLC purchased a new position in Casey’s General Stores during the third quarter worth about $317,000. Kennebec Savings Bank acquired a new stake in shares of Casey’s General Stores in the third quarter worth approximately $76,000. Atria Investments Inc grew its holdings in Casey’s General Stores by 3.2% in the third quarter. Atria Investments Inc now owns 3,198 shares of the company’s stock valued at $1,201,000 after purchasing an additional 100 shares during the period. CWA Asset Management Group LLC acquired a new position in Casey’s General Stores during the third quarter worth approximately $11,125,000. Finally, Consolidated Planning Corp purchased a new position in Casey’s General Stores during the third quarter worth approximately $222,000. Institutional investors and hedge funds own 85.63% of the company’s stock.

Insider Transactions at Casey’s General Stores

In related news, CEO Darren M. Rebelez sold 13,500 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 73,838 shares of the company’s stock, valued at approximately $27,655,284.52. This represents a 15.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Thomas P. Brennan, Jr. sold 3,000 shares of Casey’s General Stores stock in a transaction 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 directly owns 9,044 shares of the company’s stock, valued at approximately $3,438,890.56. This represents a 24.91 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.56% of the company’s stock.

Casey’s General Stores Trading Down 1.1 %

NASDAQ:CASY opened at $401.40 on Friday. Casey’s General Stores, Inc. has a one year low of $266.56 and a one year high of $420.27. The business’s 50-day simple moving average is $386.44 and its 200 day simple moving average is $369.16. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.44 and a current ratio of 0.84. The stock has a market cap of $14.90 billion, a price-to-earnings ratio of 29.21 and a beta of 0.79.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Wednesday, September 4th. The company reported $4.83 earnings per share for the quarter, topping analysts’ consensus estimates of $4.54 by $0.29. The business had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.15 billion. Casey’s General Stores had a net margin of 3.40% and a return on equity of 17.07%. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the company earned $4.52 earnings per share. As a group, sell-side analysts predict that Casey’s General Stores, Inc. will post 14.24 earnings per share for the current fiscal year.

Casey’s General Stores Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts recently weighed in on CASY shares. JPMorgan Chase & Co. lowered Casey’s General Stores from a “neutral” rating to an “underweight” rating and increased their target price for the stock from $300.00 to $337.00 in a research report on Thursday, September 19th. Wells Fargo & Company lifted their price objective 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. Royal Bank of Canada increased their target price on shares of Casey’s General Stores from $393.00 to $403.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 5th. Gordon Haskett assumed 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 target on the stock. Finally, Evercore ISI increased their price objective 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. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $408.25.

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.