Casey's General Stores, Inc. (NASDAQ:CASY) Position Increased by Nicola Wealth Management LTD.

Nicola Wealth Management LTD. lifted its stake in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 12.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 62,100 shares of the company's stock after purchasing an additional 7,100 shares during the quarter. Casey's General Stores accounts for about 2.1% of Nicola Wealth Management LTD.'s investment portfolio, making the stock its 10th largest holding. Nicola Wealth Management LTD. owned 0.17% of Casey's General Stores worth $23,332,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CASY. Park Place Capital Corp purchased a new position in Casey's General Stores during the 2nd quarter valued at about $31,000. Advisors Asset Management Inc. acquired a new position in Casey's General Stores in the 1st quarter valued at approximately $32,000. Innealta Capital LLC acquired a new stake in shares of Casey's General Stores during the 2nd quarter valued at $32,000. Bank & Trust Co acquired a new stake in shares of Casey's General Stores during the 2nd quarter valued at $40,000. Finally, Venturi Wealth Management LLC increased its stake in shares of Casey's General Stores by 941.7% in the third quarter. Venturi Wealth Management LLC now owns 125 shares of the company's stock worth $47,000 after acquiring an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 85.63% of the company's stock.

Insiders Place Their Bets

In other news, insider Thomas P. Brennan, Jr. sold 3,000 shares of the company's stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $380.24, for a total value of $1,140,720.00. Following the completion of the transaction, the insider now directly owns 9,044 shares of the company's stock, valued at $3,438,890.56. This represents a 24.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Darren M. Rebelez sold 13,500 shares of the business's stock in a transaction dated Friday, September 6th. The stock was 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 directly owns 73,838 shares in the company, valued at $27,655,284.52. This trade represents a 15.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.56% of the company's stock.

Casey's General Stores Trading Down 0.8 %

NASDAQ CASY traded down $3.40 during trading hours on Thursday, reaching $405.71. The company's stock had a trading volume of 245,755 shares, compared to its average volume of 269,079. Casey's General Stores, Inc. has a 52 week low of $266.56 and a 52 week high of $420.27. 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 stock has a market cap of $15.06 billion, a P/E ratio of 29.53 and a beta of 0.79. The firm has a fifty day simple moving average of $385.88 and a 200-day simple moving average of $368.62.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its quarterly earnings results on Wednesday, September 4th. The company reported $4.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.54 by $0.29. The firm had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.15 billion. Casey's General Stores had a net margin of 3.40% and a return on equity of 17.07%. The company's revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.52 EPS. Equities analysts forecast that Casey's General Stores, Inc. will post 14.24 earnings per share for the current fiscal year.

Casey's General Stores Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be issued 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 0.49%. Casey's General Stores's dividend payout ratio is 14.56%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CASY shares. JPMorgan Chase & Co. lowered Casey's General Stores from a "neutral" rating to an "underweight" rating and boosted their target price for the stock from $300.00 to $337.00 in a report on Thursday, September 19th. Royal Bank of Canada raised their price target on Casey's General Stores from $393.00 to $403.00 and gave the company a "sector perform" rating in a report on Thursday, September 5th. Wells Fargo & Company increased 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 research note on Friday, September 6th. Evercore ISI boosted their price objective on Casey's General Stores from $435.00 to $440.00 and gave the stock an "outperform" rating in a report on Wednesday, October 16th. Finally, StockNews.com lowered Casey's General Stores from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Casey's General Stores presently has an average rating of "Moderate Buy" and an average price target of $408.25.

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.