Lord Abbett & CO. LLC purchased a new stake in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 62,000 shares of the company's stock, valued at approximately $23,294,000. Lord Abbett & CO. LLC owned 0.17% of Casey's General Stores at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. International Assets Investment Management LLC purchased a new stake in shares of Casey's General Stores in the third quarter valued at about $959,880,000. Millennium Management LLC boosted its stake in shares of Casey's General Stores by 3,846.1% in the 2nd quarter. Millennium Management LLC now owns 172,320 shares of the company's stock worth $65,750,000 after buying an additional 176,920 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Casey's General Stores by 49.9% during the third quarter. Franklin Resources Inc. now owns 524,237 shares of the company's stock worth $204,861,000 after acquiring an additional 174,586 shares during the period. Benjamin Edwards Inc. boosted its position in Casey's General Stores by 1,819.1% in the third quarter. Benjamin Edwards Inc. now owns 130,291 shares of the company's stock worth $48,959,000 after purchasing an additional 123,502 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in Casey's General Stores by 281.4% in the 3rd quarter. Wellington Management Group LLP now owns 164,656 shares of the company's stock valued at $61,863,000 after purchasing an additional 121,488 shares during the period. Institutional investors own 85.63% of the company's stock.
Wall Street Analysts Forecast Growth
CASY has been the subject of several research analyst reports. Benchmark restated a "buy" rating and set a $410.00 price target on shares of Casey's General Stores in a research note on Tuesday, September 10th. Royal Bank of Canada increased their target price on shares of Casey's General Stores from $403.00 to $428.00 and gave the stock a "sector perform" rating in a research report on Tuesday, December 10th. Evercore ISI upped 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 note on Friday. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Casey's General Stores from $451.00 to $454.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. Finally, Melius Research started coverage on Casey's General Stores in a research report on Monday, September 23rd. They issued a "buy" rating and a $435.00 price target for the company. 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 stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $419.45.
Read Our Latest Research Report on Casey's General Stores
Casey's General Stores Price Performance
CASY traded down $0.76 during midday trading on Monday, hitting $424.51. The stock had a trading volume of 264,983 shares, compared to its average volume of 266,343. Casey's General Stores, Inc. has a 1 year low of $268.07 and a 1 year high of $439.68. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.44 and a current ratio of 0.88. The business has a fifty day moving average of $406.08 and a 200 day moving average of $382.79. The company has a market cap of $15.76 billion, a P/E ratio of 29.58 and a beta of 0.80.
Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its quarterly earnings data on Monday, December 9th. The company reported $4.85 earnings per share for the quarter, beating analysts' consensus estimates of $4.29 by $0.56. The firm had revenue of $3.95 billion during the quarter, compared to analyst estimates of $4.03 billion. Casey's General Stores had a return on equity of 17.17% and a net margin of 3.57%. The business's quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.24 earnings per share. As a group, equities analysts forecast that Casey's General Stores, Inc. will post 14.28 earnings per share for the current fiscal year.
Casey's General Stores Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, February 17th. Investors of record on Monday, February 3rd will be paid a $0.50 dividend. The ex-dividend date is Monday, February 3rd. This represents a $2.00 annualized dividend and a dividend yield of 0.47%. Casey's General Stores's payout ratio is presently 13.94%.
Insider Activity at Casey's General Stores
In related news, insider Katrina S. Lindsey sold 450 shares of the 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 completion of the transaction, the insider now directly owns 2,247 shares of the company's stock, valued at $959,761.11. This represents a 16.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mike Spanos acquired 267 shares of the business's stock in a transaction on Wednesday, September 18th. The shares were purchased at an average cost of $376.18 per share, for a total transaction of $100,440.06. Following the completion of the transaction, the director now owns 2,594 shares in the company, valued at approximately $975,810.92. This represents 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.
About Casey's General Stores
(
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.
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