Catalyst Funds Management Pty Ltd Purchases New Shares in Casey's General Stores, Inc. (NASDAQ:CASY)

Catalyst Funds Management Pty Ltd purchased a new stake in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,275 shares of the company's stock, valued at approximately $901,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. YANKCOM Partnership purchased a new position in Casey's General Stores in the fourth quarter valued at about $34,000. Endeavor Private Wealth Inc. acquired a new stake in Casey's General Stores during the fourth quarter valued at approximately $36,000. Venturi Wealth Management LLC raised its stake 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 buying an additional 113 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in Casey's General Stores by 24.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 149 shares of the company's stock valued at $59,000 after buying an additional 29 shares in the last quarter. Finally, Heck Capital Advisors LLC acquired a new stake in Casey's General Stores during the fourth quarter valued at approximately $79,000. Hedge funds and other institutional investors own 85.63% of the company's stock.

Casey's General Stores Price Performance

NASDAQ CASY traded up $15.34 on Wednesday, reaching $402.23. 398,109 shares of the stock traded hands, compared to its average volume of 267,431. Casey's General Stores, Inc. has a 12 month low of $306.42 and a 12 month high of $445.17. The company has a quick ratio of 0.49, a current ratio of 0.88 and a debt-to-equity ratio of 0.74. The firm's fifty day simple moving average is $409.53 and its 200 day simple moving average is $400.54. The company has a market cap of $14.93 billion, a price-to-earnings ratio of 28.03, a P/E/G ratio of 2.40 and a beta of 0.87.

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Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its earnings results on Tuesday, March 11th. The company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.57. Casey's General Stores had a return on equity of 17.17% and a net margin of 3.57%. The business had revenue of $3.90 billion during the quarter, compared to analysts' expectations of $3.74 billion. During the same quarter last year, the business posted $2.33 earnings per share. The company's quarterly revenue was up 17.2% on a year-over-year basis. As a group, research analysts predict that Casey's General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey's General Stores Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 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 Thursday, May 1st. Casey's General Stores's dividend payout ratio is presently 13.94%.

Insider Buying and Selling

In related news, Director Mike Spanos bought 500 shares of Casey's General Stores stock in a transaction dated Monday, December 23rd. The stock was acquired at an average cost of $396.76 per share, with a total value of $198,380.00. Following the completion of the acquisition, the director now directly owns 3,097 shares in the company, valued at approximately $1,228,765.72. This trade represents a 19.25 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.56% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CASY has been the topic of several research reports. Gordon Haskett upgraded Casey's General Stores from a "hold" rating to a "buy" rating in a research note on Thursday, February 13th. Royal Bank of Canada set a $438.00 price objective on Casey's General Stores and gave the company a "sector perform" rating in a research note on Wednesday, March 12th. Evercore ISI dropped their price target on Casey's General Stores from $460.00 to $450.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 11th. BMO Capital Markets reiterated a "market perform" rating and set a $450.00 price target (up from $400.00) on shares of Casey's General Stores in a research report on Wednesday, December 18th. Finally, StockNews.com cut Casey's General Stores from a "buy" rating to a "hold" rating in a research report on Saturday, March 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $423.09.

About Casey's General Stores

Casey's General Stores, Inc engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.