Fortem Financial Group LLC lowered its holdings in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 30.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,182 shares of the company's stock after selling 1,376 shares during the quarter. Fortem Financial Group LLC's holdings in Casey's General Stores were worth $1,196,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also modified their holdings of the company. Soros Capital Management LLC raised its position in shares of Casey's General Stores by 1,825.6% in the third quarter. Soros Capital Management LLC now owns 27,632 shares of the company's stock valued at $10,382,000 after purchasing an additional 26,197 shares during the period. PNC Financial Services Group Inc. grew its stake in Casey's General Stores by 9.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 14,725 shares of the company's stock valued at $5,532,000 after buying an additional 1,332 shares during the last quarter. FMR LLC raised its holdings in Casey's General Stores by 3.8% in the 3rd quarter. FMR LLC now owns 1,046,830 shares of the company's stock worth $393,305,000 after acquiring an additional 38,226 shares during the period. OneDigital Investment Advisors LLC lifted its position in Casey's General Stores by 111.7% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,004 shares of the company's stock worth $1,504,000 after acquiring an additional 2,113 shares during the last quarter. Finally, Segall Bryant & Hamill LLC boosted its holdings in Casey's General Stores by 5.8% during the third quarter. Segall Bryant & Hamill LLC now owns 48,872 shares of the company's stock valued at $18,362,000 after acquiring an additional 2,679 shares during the period. Institutional investors and hedge funds own 85.63% of the company's stock.
Casey's General Stores Price Performance
Shares of Casey's General Stores stock traded up $10.95 during midday trading on Wednesday, hitting $427.81. 388,970 shares of the company were exchanged, compared to its average volume of 266,978. The firm has a 50 day simple moving average of $401.61 and a 200-day simple moving average of $380.19. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.84 and a quick ratio of 0.44. The firm has a market cap of $15.88 billion, a P/E ratio of 30.34 and a beta of 0.80. Casey's General Stores, Inc. has a 52 week low of $266.56 and a 52 week high of $439.68.
Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its quarterly earnings results on Monday, December 9th. The company reported $4.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.29 by $0.56. The firm had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $4.03 billion. Casey's General Stores had a net margin of 3.40% and a return on equity of 17.07%. The firm's quarterly revenue was down 2.9% on a year-over-year basis. During the same period last year, the firm posted $4.24 EPS. Research analysts forecast that Casey's General Stores, Inc. will post 14.22 earnings per share for the current year.
Casey's General Stores Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, February 17th. Investors of record on Monday, February 3rd will be given a dividend of $0.50 per share. The ex-dividend date is Monday, February 3rd. This represents a $2.00 dividend on an annualized basis and a yield of 0.47%. Casey's General Stores's dividend payout ratio (DPR) is presently 14.56%.
Insider Activity at Casey's General Stores
In related news, Director Mike Spanos purchased 267 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was acquired at an average price of $376.18 per share, with a total value of $100,440.06. Following the completion of the acquisition, the director now directly owns 2,594 shares in the company, valued at approximately $975,810.92. This trade represents a 11.47 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.56% of the company's stock.
Wall Street Analyst Weigh In
Several research firms recently weighed in on CASY. Royal Bank of Canada boosted their price objective on Casey's General Stores from $403.00 to $428.00 and gave the stock a "sector perform" rating in a research report on Tuesday. JPMorgan Chase & Co. cut Casey's General Stores from a "neutral" rating to an "underweight" rating and increased their price objective for the company from $300.00 to $337.00 in a research report on Thursday, September 19th. StockNews.com upgraded shares of Casey's General Stores from a "buy" rating to a "strong-buy" rating in a research note on Thursday, December 5th. Wells Fargo & Company upped their target price on shares of 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. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Casey's General Stores from $451.00 to $454.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $410.33.
Check Out Our Latest Research Report on CASY
About Casey's General Stores
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Free Report)
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.
Further Reading
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