Raymond James Financial Inc. Acquires Shares of 596,876 Casey's General Stores, Inc. (NASDAQ:CASY)

Raymond James Financial Inc. purchased a new position in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 596,876 shares of the company's stock, valued at approximately $236,500,000. Raymond James Financial Inc. owned about 1.61% of Casey's General Stores as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC grew its stake in shares of Casey's General Stores by 24.0% in the third quarter. Janney Montgomery Scott LLC now owns 7,210 shares of the company's stock worth $2,709,000 after acquiring an additional 1,395 shares during the last quarter. Van ECK Associates Corp grew its position in Casey's General Stores by 40.0% during the 3rd quarter. Van ECK Associates Corp now owns 21,227 shares of the company's stock valued at $8,289,000 after purchasing an additional 6,066 shares during the last quarter. QRG Capital Management Inc. bought a new stake in Casey's General Stores during the 3rd quarter valued at about $209,000. Graypoint LLC purchased a new position in Casey's General Stores in the third quarter worth about $210,000. Finally, Cozad Asset Management Inc. raised its holdings in Casey's General Stores by 37.0% in the third quarter. Cozad Asset Management Inc. now owns 741 shares of the company's stock worth $278,000 after buying an additional 200 shares during the last quarter. Institutional investors own 85.63% of the company's stock.

Casey's General Stores Stock Performance

CASY stock traded down $17.05 during midday trading on Monday, reaching $381.68. 511,561 shares of the company's stock traded hands, compared to its average volume of 266,901. The company has a current ratio of 0.88, a quick ratio of 0.49 and a debt-to-equity ratio of 0.74. Casey's General Stores, Inc. has a 52-week low of $290.00 and a 52-week high of $445.17. The stock has a market cap of $14.17 billion, a P/E ratio of 26.60, a PEG ratio of 2.40 and a beta of 0.87. The stock's 50-day moving average is $410.34 and its 200 day moving average is $399.46.

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Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its 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 company had revenue of $3.95 billion for the quarter, compared to analysts' expectations of $4.03 billion. During the same period last year, the firm earned $4.24 EPS. Casey's General Stores's revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, analysts anticipate that Casey's General Stores, Inc. will post 13.94 EPS for the current year.

Insider Transactions at Casey's General Stores

In other news, insider Katrina S. Lindsey sold 450 shares of the stock in a transaction on 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 sale, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mike Spanos bought 500 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were purchased at an average price of $396.76 per share, for a total transaction of $198,380.00. Following the purchase, the director now owns 3,097 shares in the company, valued at $1,228,765.72. This represents a 19.25 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.56% of the company's stock.

Analysts Set New Price Targets

CASY has been the subject of several analyst reports. Evercore ISI raised 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, December 13th. Royal Bank of Canada boosted their price target on Casey's General Stores from $403.00 to $428.00 and gave the stock a "sector perform" rating in a research note on Tuesday, December 10th. BMO Capital Markets reaffirmed a "market perform" rating and set a $450.00 price target (up from $400.00) on shares of Casey's General Stores in a report on Wednesday, December 18th. StockNews.com downgraded Casey's General Stores from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Gordon Haskett upgraded shares of Casey's General Stores from a "hold" rating to a "buy" rating in a research note on Thursday, February 13th. One equities 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. According to data from MarketBeat, Casey's General Stores presently has a consensus rating of "Moderate Buy" and an average price target of $424.00.

Casey's General Stores Company Profile

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.