Casey’s General Stores, Inc. (NASDAQ:CASY) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc grew its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 3.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,078 shares of the company’s stock after purchasing an additional 34 shares during the period. CIBC Asset Management Inc’s holdings in Casey’s General Stores were worth $405,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CASY. Park Place Capital Corp bought a new position in Casey’s General Stores in the second quarter worth about $31,000. Innealta Capital LLC acquired a new position in Casey’s General Stores during the 2nd quarter valued at approximately $32,000. Advisors Asset Management Inc. bought a new position in Casey’s General Stores during the 1st quarter worth $32,000. Bank & Trust Co acquired a new stake in Casey’s General Stores in the second quarter worth $40,000. Finally, Venturi Wealth Management LLC lifted its stake in Casey’s General Stores by 941.7% in the third quarter. Venturi Wealth Management LLC now owns 125 shares of the company’s stock valued at $47,000 after buying an additional 113 shares during the last quarter. 85.63% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Mike Spanos purchased 267 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were purchased at an average price of $376.18 per share, with a total value of $100,440.06. Following the purchase, the director now owns 2,594 shares of the company’s stock, valued at $975,810.92. This trade represents a 11.47 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Thomas P. Brennan, Jr. sold 3,000 shares of the company’s stock in a transaction dated 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 directly owns 9,044 shares of the company’s stock, valued at $3,438,890.56. This represents a 24.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by company insiders.

Casey’s General Stores Stock Up 0.5 %

CASY opened at $416.11 on Friday. The stock’s fifty day moving average is $389.42 and its 200-day moving average is $371.78. Casey’s General Stores, Inc. has a one year low of $266.56 and a one year high of $420.27. The company has a market capitalization of $15.45 billion, a PE ratio of 30.28 and a beta of 0.79. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.44 and a current ratio of 0.84.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Wednesday, September 4th. The company reported $4.83 earnings per share for the quarter, beating analysts’ consensus estimates of $4.54 by $0.29. The company 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%. Casey’s General Stores’s revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the company earned $4.52 EPS. On average, equities analysts predict that Casey’s General Stores, Inc. will post 14.24 EPS for the current fiscal year.

Casey’s General Stores Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Friday, November 1st. Casey’s General Stores’s payout ratio is 14.56%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CASY shares. Wells Fargo & Company upped their price target on shares of Casey’s General Stores from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Royal Bank of Canada increased their price objective on shares of Casey’s General Stores from $393.00 to $403.00 and gave the stock a “sector perform” rating in a report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Casey’s General Stores from $451.00 to $454.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Melius Research started coverage on shares of Casey’s General Stores in a report on Monday, September 23rd. They issued a “buy” rating and a $435.00 price objective 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 report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.