SpiderRock Advisors LLC cut its position in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 27.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,294 shares of the company's stock after selling 1,243 shares during the period. SpiderRock Advisors LLC's holdings in Casey's General Stores were worth $1,238,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC acquired a new position in shares of Casey's General Stores during the first quarter worth approximately $794,000. Bailard Inc. acquired a new stake in Casey's General Stores during the 2nd quarter valued at $1,021,000. Marks Group Wealth Management Inc bought a new position in shares of Casey's General Stores in the third quarter valued at about $5,489,000. SG Americas Securities LLC acquired a new position in Casey's General Stores during the 2nd quarter worth $2,183,000. Finally, Cetera Investment Advisers lifted its holdings in Casey's General Stores by 255.8% in the first quarter. Cetera Investment Advisers now owns 9,291 shares of the company's stock valued at $2,959,000 after buying an additional 6,680 shares during the period. Institutional investors own 85.63% of the company's stock.
Insider Buying and Selling at Casey's General Stores
In related news, insider Thomas P. Brennan, Jr. sold 3,000 shares of the business'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 transaction of $1,140,720.00. Following the transaction, the insider now directly owns 9,044 shares of the company's stock, valued at approximately $3,438,890.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Mike Spanos acquired 267 shares of Casey's General Stores stock in a transaction that occurred on Wednesday, September 18th. The stock was acquired at an average price of $376.18 per share, with a total value of $100,440.06. Following the completion of the acquisition, the director now directly owns 2,594 shares of the company's stock, valued at $975,810.92. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas P. Brennan, Jr. sold 3,000 shares of Casey's General Stores stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $380.24, for a total transaction of $1,140,720.00. Following the completion of the transaction, the insider now directly owns 9,044 shares in the company, valued at $3,438,890.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by corporate insiders.
Casey's General Stores Stock Performance
NASDAQ CASY traded down $1.15 on Monday, hitting $411.70. 108,231 shares of the company's stock were exchanged, compared to its average volume of 269,132. 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 firm's 50-day moving average price is $382.08 and its two-hundred day moving average price is $366.73. The firm has a market cap of $15.28 billion, a price-to-earnings ratio of 30.05 and a beta of 0.79. Casey's General Stores, Inc. has a fifty-two week low of $266.56 and a fifty-two week high of $420.27.
Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its quarterly earnings data on Wednesday, September 4th. The company reported $4.83 EPS for the quarter, topping analysts' consensus estimates of $4.54 by $0.29. The firm had revenue of $4.10 billion during the quarter, compared to analysts' expectations of $4.15 billion. Casey's General Stores had a return on equity of 17.07% and a net margin of 3.40%. The firm's quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the business posted $4.52 EPS. On average, research analysts expect that Casey's General Stores, Inc. will post 14.24 EPS for the current year.
Casey's General Stores Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be issued a $0.50 dividend. The ex-dividend date is Friday, November 1st. This represents a $2.00 annualized dividend and a yield of 0.49%. Casey's General Stores's payout ratio is 14.56%.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on the company. Gordon Haskett initiated coverage on Casey's General Stores in a report on Monday, November 4th. They set a "hold" rating and a $400.00 target price on the stock. StockNews.com downgraded shares of Casey's General Stores from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 3rd. Deutsche Bank Aktiengesellschaft upped their price target on shares of Casey's General Stores from $451.00 to $454.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. Melius Research assumed coverage on Casey's General Stores in a report on Monday, September 23rd. They set a "buy" rating and a $435.00 price target for the company. Finally, Wells Fargo & Company lifted their price target on Casey's General Stores from $415.00 to $425.00 and gave the stock an "overweight" rating in a report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Casey's General Stores presently has a consensus rating of "Moderate Buy" and a consensus target price of $408.25.
Check Out Our Latest Report on Casey's General Stores
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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