VELA Investment Management LLC Has $2.42 Million Holdings in Casey's General Stores, Inc. (NASDAQ:CASY)

VELA Investment Management LLC lowered its stake in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 35.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,448 shares of the company's stock after selling 3,506 shares during the period. VELA Investment Management LLC's holdings in Casey's General Stores were worth $2,423,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. AdvisorNet Financial Inc raised its holdings in shares of Casey's General Stores by 10.1% during the 2nd quarter. AdvisorNet Financial Inc now owns 317 shares of the company's stock valued at $121,000 after purchasing an additional 29 shares in the last quarter. V Square Quantitative Management LLC raised its holdings in shares of Casey's General Stores by 22.5% during the 3rd quarter. V Square Quantitative Management LLC now owns 158 shares of the company's stock valued at $59,000 after purchasing an additional 29 shares in the last quarter. Oppenheimer & Co. Inc. raised its holdings in shares of Casey's General Stores by 0.3% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 12,769 shares of the company's stock valued at $4,872,000 after purchasing an additional 37 shares in the last quarter. Raleigh Capital Management Inc. raised its holdings in shares of Casey's General Stores by 12.4% during the 3rd quarter. Raleigh Capital Management Inc. now owns 354 shares of the company's stock valued at $133,000 after purchasing an additional 39 shares in the last quarter. Finally, Prairie Wealth Advisors Inc. raised its holdings in shares of Casey's General Stores by 0.9% during the 2nd quarter. Prairie Wealth Advisors Inc. now owns 4,535 shares of the company's stock valued at $1,730,000 after purchasing an additional 40 shares in the last quarter. Institutional investors and hedge funds own 85.63% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CASY. Wells Fargo & Company raised their price target on shares of Casey's General Stores from $415.00 to $425.00 and gave the company an "overweight" rating in a report on Friday, September 6th. Northcoast Research upgraded shares of Casey's General Stores from a "neutral" rating to a "buy" rating and set a $410.00 target price on the stock in a report on Thursday, July 11th. Melius Research initiated coverage on shares of Casey's General Stores in a report on Monday, September 23rd. They issued a "buy" rating and a $435.00 target price on the stock. Benchmark reiterated a "buy" rating and issued a $410.00 target price on shares of Casey's General Stores in a report on Tuesday, September 10th. Finally, StockNews.com downgraded shares of Casey's General Stores from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $408.09.

Insider Activity

In other news, CEO Darren M. Rebelez sold 13,500 shares of Casey's General Stores stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $374.54, for a total transaction of $5,056,290.00. Following the sale, the chief executive officer now directly owns 73,838 shares in the company, valued at approximately $27,655,284.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Mike Spanos purchased 267 shares of Casey's General Stores 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 directly owns 2,594 shares in the company, valued at approximately $975,810.92. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Darren M. Rebelez sold 13,500 shares of the business's stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $374.54, for a total transaction of $5,056,290.00. Following the completion of the transaction, the chief executive officer now owns 73,838 shares in the company, valued at approximately $27,655,284.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.56% of the stock is owned by company insiders.

Casey's General Stores Stock Performance

NASDAQ CASY traded down $0.33 during midday trading on Friday, hitting $393.19. The company had a trading volume of 196,175 shares, compared to its average volume of 270,405. The company has a quick ratio of 0.44, a current ratio of 0.84 and a debt-to-equity ratio of 0.44. The stock has a market cap of $14.60 billion, a price-to-earnings ratio of 28.62 and a beta of 0.80. The firm has a fifty day simple moving average of $378.56 and a two-hundred day simple moving average of $362.82. Casey's General Stores, Inc. has a fifty-two week low of $266.56 and a fifty-two week high of $401.17.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its quarterly earnings results on Wednesday, September 4th. The company reported $4.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.54 by $0.29. The company had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.15 billion. Casey's General Stores had a net margin of 3.40% and a return on equity of 17.07%. The business's quarterly revenue was up 5.9% on a year-over-year basis. During the same period last year, the business posted $4.52 EPS. Equities analysts forecast that Casey's General Stores, Inc. will post 14.01 earnings per share for the current fiscal year.

Casey's General Stores Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be given a dividend of $0.50 per share. The ex-dividend date is Friday, November 1st. This represents a $2.00 annualized dividend and a dividend yield of 0.51%. Casey's General Stores's dividend payout ratio (DPR) is currently 14.56%.

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.