Intech Investment Management LLC Grows Holdings in Casey's General Stores, Inc. (NASDAQ:CASY)

Intech Investment Management LLC lifted its stake in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 125.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,575 shares of the company's stock after purchasing an additional 6,446 shares during the quarter. Intech Investment Management LLC's holdings in Casey's General Stores were worth $4,586,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CASY. Private Trust Co. NA raised its holdings in shares of Casey's General Stores by 1.3% in the third quarter. Private Trust Co. NA now owns 2,072 shares of the company's stock worth $778,000 after buying an additional 27 shares during the period. MassMutual Private Wealth & Trust FSB grew its position in Casey's General Stores by 24.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 149 shares of the company's stock valued at $59,000 after acquiring an additional 29 shares during the last quarter. Harbour Investments Inc. increased its stake in Casey's General Stores by 3.1% in the fourth quarter. Harbour Investments Inc. now owns 1,002 shares of the company's stock worth $397,000 after purchasing an additional 30 shares during the period. Laidlaw Wealth Management LLC lifted its position in shares of Casey's General Stores by 3.1% during the fourth quarter. Laidlaw Wealth Management LLC now owns 1,063 shares of the company's stock worth $421,000 after purchasing an additional 32 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its stake in shares of Casey's General Stores by 3.3% during the third quarter. CIBC Asset Management Inc now owns 1,078 shares of the company's stock valued at $405,000 after purchasing an additional 34 shares during the period. Hedge funds and other institutional investors own 85.63% of the company's stock.

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Casey's General Stores Stock Up 2.3 %

Shares of NASDAQ CASY traded up $9.16 during mid-day trading on Friday, reaching $404.00. 493,273 shares of the company were exchanged, compared to its average volume of 268,278. The stock has a market cap of $15.00 billion, a price-to-earnings ratio of 28.15, a P/E/G ratio of 2.40 and a beta of 0.87. The firm has a 50-day moving average of $410.20 and a 200 day moving average of $401.12. Casey's General Stores, Inc. has a 1 year low of $306.45 and a 1 year 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.

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

Casey's General Stores Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $2.00 annualized dividend and a dividend yield of 0.50%. Casey's General Stores's dividend payout ratio is presently 13.94%.

Insider Buying and Selling at Casey's General Stores

In other news, Director Mike Spanos acquired 256 shares of Casey's General Stores stock in a transaction dated Thursday, March 13th. The stock was purchased at an average cost of $390.54 per share, for a total transaction of $99,978.24. Following the completion of the purchase, the director now directly owns 3,356 shares in the company, valued at $1,310,652.24. This trade represents a 8.26 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.56% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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