Logan Capital Management Inc. Buys New Position in Casey's General Stores, Inc. (NASDAQ:CASY)

Logan Capital Management Inc. acquired a new position in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 5,454 shares of the company's stock, valued at approximately $2,049,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Oddo BHF Asset Management Sas purchased a new stake in Casey's General Stores in the third quarter valued at approximately $899,000. Franklin Resources Inc. boosted its holdings in shares of Casey's General Stores by 49.9% in the 3rd quarter. Franklin Resources Inc. now owns 524,237 shares of the company's stock valued at $204,861,000 after purchasing an additional 174,586 shares during the last quarter. Synovus Financial Corp grew its stake in shares of Casey's General Stores by 74.4% during the 3rd quarter. Synovus Financial Corp now owns 16,595 shares of the company's stock valued at $6,235,000 after buying an additional 7,078 shares during the period. Sanctuary Advisors LLC increased its holdings in shares of Casey's General Stores by 10.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 5,514 shares of the company's stock worth $2,072,000 after buying an additional 523 shares during the last quarter. Finally, Sunbelt Securities Inc. raised its position in shares of Casey's General Stores by 6.0% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,960 shares of the company's stock worth $736,000 after buying an additional 111 shares during the period. Hedge funds and other institutional investors own 85.63% of the company's stock.

Casey's General Stores Stock Down 0.1 %

NASDAQ CASY traded down $0.43 during trading hours on Friday, reaching $425.27. 187,688 shares of the company traded hands, compared to its average volume of 266,349. The company has a 50 day moving average of $405.04 and a two-hundred day moving average of $381.71. The stock has a market capitalization of $15.79 billion, a PE ratio of 29.64 and a beta of 0.80. Casey's General Stores, Inc. has a 12 month low of $266.58 and a 12 month high of $439.68. The company has a current ratio of 0.88, a quick ratio of 0.44 and a debt-to-equity ratio of 0.74.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its quarterly earnings results on Monday, December 9th. The company reported $4.85 EPS for the quarter, topping analysts' consensus estimates of $4.29 by $0.56. Casey's General Stores had a return on equity of 17.17% and a net margin of 3.57%. The business had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $4.03 billion. During the same period last year, the firm earned $4.24 earnings per share. The company's revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, equities analysts expect that Casey's General Stores, Inc. will post 14.28 earnings per share for the current year.

Casey's General Stores Dividend Announcement

The firm also recently disclosed 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. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, February 3rd. Casey's General Stores's dividend payout ratio is presently 13.94%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CASY. Gordon Haskett started coverage on Casey's General Stores in a research report on Monday, November 4th. They set a "hold" rating and a $400.00 price target for the company. StockNews.com downgraded shares of Casey's General Stores from a "strong-buy" rating to a "buy" rating in a research report on Friday. Evercore ISI lifted their price target on shares of Casey's General Stores from $460.00 to $470.00 and gave the company an "outperform" rating in a research report on Friday. JPMorgan Chase & Co. lowered shares of Casey's General Stores from a "neutral" rating to an "underweight" rating and increased their price objective for the stock from $300.00 to $337.00 in a research report on Thursday, September 19th. Finally, Royal Bank of Canada lifted their target price on shares of Casey's General Stores from $403.00 to $428.00 and gave the company a "sector perform" rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $419.45.

Insider Buying and Selling

In related news, insider Katrina S. Lindsey sold 450 shares of Casey's General Stores stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $427.13, for a total value of $192,208.50. Following the sale, the insider now directly owns 2,247 shares in the company, valued at $959,761.11. This trade represents a 16.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mike Spanos bought 267 shares of the firm's stock in a transaction on Wednesday, September 18th. The stock was purchased at an average price of $376.18 per share, with a total value of $100,440.06. Following the transaction, the director now owns 2,594 shares in the company, valued at $975,810.92. The trade was a 11.47 % increase in their position. The disclosure for this purchase can be found here. 0.56% of the stock is owned by company insiders.

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.