Redmond Asset Management LLC Acquires New Stake in Casey's General Stores, Inc. (NASDAQ:CASY)

Redmond Asset Management LLC purchased a new position in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,339 shares of the company's stock, valued at approximately $1,323,000.

A number of other large investors have also modified their holdings of CASY. Soros Capital Management LLC increased its position in shares of Casey's General Stores by 1,825.6% in the 3rd quarter. Soros Capital Management LLC now owns 27,632 shares of the company's stock valued at $10,382,000 after acquiring an additional 26,197 shares during the period. Sanctuary Advisors LLC grew its stake in Casey's General Stores by 55.6% during the 4th quarter. Sanctuary Advisors LLC now owns 8,579 shares of the company's stock valued at $3,629,000 after purchasing an additional 3,065 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Casey's General Stores by 9.9% in the third quarter. PNC Financial Services Group Inc. now owns 14,725 shares of the company's stock valued at $5,532,000 after purchasing an additional 1,332 shares during the period. JLB & Associates Inc. increased its holdings in shares of Casey's General Stores by 1.8% in the fourth quarter. JLB & Associates Inc. now owns 43,029 shares of the company's stock valued at $17,049,000 after purchasing an additional 749 shares during the period. Finally, U.S. Capital Wealth Advisors LLC purchased a new position in shares of Casey's General Stores in the fourth quarter worth about $369,000. Hedge funds and other institutional investors own 85.63% of the company's stock.

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Insider Activity

In related news, Director Mike Spanos acquired 500 shares of Casey's General Stores stock in a transaction on Monday, December 23rd. The stock was bought at an average cost of $396.76 per share, for a total transaction of $198,380.00. Following the completion of the transaction, the director now owns 3,097 shares of the company's stock, valued at approximately $1,228,765.72. The trade was a 19.25 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction of $192,208.50. Following the transaction, the insider now directly owns 2,247 shares in the company, valued at approximately $959,761.11. The trade was a 16.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.56% of the company's stock.

Casey's General Stores Price Performance

Shares of Casey's General Stores stock traded down $6.74 during trading hours on Wednesday, reaching $416.00. The stock had a trading volume of 417,751 shares, compared to its average volume of 276,191. The stock's 50 day moving average is $409.95 and its 200 day moving average is $397.67. 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 twelve month low of $290.00 and a twelve month high of $445.17. The firm has a market capitalization of $15.44 billion, a PE ratio of 28.99, a PEG ratio of 2.40 and a beta of 0.83.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its quarterly earnings results on Monday, December 9th. The company reported $4.85 earnings per share for the quarter, topping analysts' consensus estimates of $4.29 by $0.56. The company had revenue of $3.95 billion during the quarter, compared to analysts' expectations of $4.03 billion. Casey's General Stores had a return on equity of 17.17% and a net margin of 3.57%. Casey's General Stores'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 EPS. Equities analysts expect that Casey's General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey's General Stores Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 17th. Stockholders of record on Monday, February 3rd were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Monday, February 3rd. Casey's General Stores's payout ratio is 13.94%.

Analyst Upgrades and Downgrades

CASY has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft upped their target price on Casey's General Stores from $451.00 to $454.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. BMO Capital Markets reaffirmed a "market perform" rating and issued a $450.00 price objective (up from $400.00) on shares of Casey's General Stores in a report on Wednesday, December 18th. Gordon Haskett raised shares of Casey's General Stores from a "hold" rating to a "buy" rating in a report on Thursday, February 13th. StockNews.com upgraded shares of Casey's General Stores from a "hold" rating to a "buy" rating in a research report on Tuesday, February 18th. Finally, Royal Bank of Canada increased 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 report on Tuesday, December 10th. 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $424.00.

About Casey's General Stores

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.