Casey’s General Stores, Inc. (NASDAQ:CASY) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 227.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,430 shares of the company’s stock after purchasing an additional 9,327 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Casey’s General Stores were worth $5,046,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Park Place Capital Corp acquired a new position in shares of Casey’s General Stores during the second quarter valued at approximately $31,000. Innealta Capital LLC purchased a new stake in shares of Casey’s General Stores during the second quarter worth approximately $32,000. Advisors Asset Management Inc. acquired a new position in Casey’s General Stores in the 1st quarter valued at $32,000. Bank & Trust Co purchased a new position in Casey’s General Stores in the 2nd quarter valued at $40,000. Finally, Venturi Wealth Management LLC boosted its stake in Casey’s General Stores by 941.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 125 shares of the company’s stock worth $47,000 after purchasing an additional 113 shares during the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CASY. Melius Research initiated coverage on shares of Casey’s General Stores in a research report on Monday, September 23rd. They issued a “buy” rating and a $435.00 target price for the company. Benchmark reissued a “buy” rating and issued a $410.00 target price on shares of Casey’s General Stores in a research note on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft upped their price target on Casey’s General Stores from $451.00 to $454.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Wells Fargo & Company lifted their price objective on 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. Finally, Evercore ISI upped their target price on Casey’s General Stores from $435.00 to $440.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $408.25.

Insider Transactions at Casey’s General Stores

In other news, CEO Darren M. Rebelez sold 13,500 shares of the stock in a transaction dated 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 owns 73,838 shares of the company’s stock, valued at approximately $27,655,284.52. This represents a 15.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mike Spanos acquired 267 shares of the stock in a transaction dated Wednesday, September 18th. The stock was acquired at an average cost 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 approximately $975,810.92. This trade represents a 11.47 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.56% of the company’s stock.

Casey’s General Stores Stock Up 2.8 %

Shares of NASDAQ:CASY opened at $427.88 on Friday. The business has a 50-day moving average price of $390.34 and a 200 day moving average price of $372.81. Casey’s General Stores, Inc. has a 12-month low of $266.56 and a 12-month high of $428.61. 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 company has a market capitalization of $15.88 billion, a price-to-earnings ratio of 31.14 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 (EPS) for the quarter, beating analysts’ consensus estimates of $4.54 by $0.29. The business had revenue of $4.10 billion for 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 revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the firm earned $4.52 EPS. Sell-side analysts expect that Casey’s General Stores, Inc. will post 14.24 EPS for the current year.

Casey’s General Stores Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders 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 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 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.