Advisors Asset Management Inc. Has $588,000 Position in Casey’s General Stores, Inc. (NASDAQ:CASY)

Advisors Asset Management Inc. boosted its holdings in Casey’s General Stores, Inc. (NASDAQ:CASY) by 83.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,565 shares of the company’s stock after purchasing an additional 712 shares during the quarter. Advisors Asset Management Inc.’s holdings in Casey’s General Stores were worth $588,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CASY. Park Place Capital Corp acquired a new stake in Casey’s General Stores in the 2nd quarter valued at $31,000. Innealta Capital LLC purchased a new position in Casey’s General Stores during the 2nd quarter worth $32,000. Bank & Trust Co purchased a new position in Casey’s General Stores during the 2nd quarter worth $40,000. Venturi Wealth Management LLC boosted its holdings in Casey’s General Stores by 941.7% during the 3rd 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. Finally, V Square Quantitative Management LLC boosted its holdings in 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 worth $59,000 after acquiring an additional 29 shares during the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

Casey’s General Stores Trading Down 1.3 %

Shares of Casey’s General Stores stock opened at $420.98 on Thursday. Casey’s General Stores, Inc. has a 52-week low of $266.56 and a 52-week high of $435.60. The stock’s 50-day simple moving average is $392.28 and its 200 day simple moving average is $374.41. The stock has a market capitalization of $15.63 billion, a P/E ratio of 30.64 and a beta of 0.79. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.44 and a current ratio of 0.84.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Wednesday, September 4th. The company reported $4.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.54 by $0.29. Casey’s General Stores had a return on equity of 17.07% and a net margin of 3.40%. The business had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same period in the previous year, the business posted $4.52 EPS. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. As a group, research analysts anticipate that Casey’s General Stores, Inc. will post 14.22 EPS for the current year.

Wall Street Analysts Forecast Growth

CASY has been the topic of a number of analyst reports. Royal Bank of Canada lifted their price objective on shares of Casey’s General Stores from $393.00 to $403.00 and gave the stock a “sector perform” rating in a report on Thursday, September 5th. Benchmark reaffirmed a “buy” rating and set a $410.00 price objective on shares of Casey’s General Stores in a report on Tuesday, September 10th. 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. Gordon Haskett initiated coverage on shares of Casey’s General Stores in a report on Monday, November 4th. They set a “hold” rating and a $400.00 price objective on the stock. Finally, JPMorgan Chase & Co. downgraded shares of Casey’s General Stores from a “neutral” rating to an “underweight” rating and boosted their price target for the stock from $300.00 to $337.00 in a report on Thursday, September 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $408.25.

Insider Activity

In related news, Director Mike Spanos purchased 267 shares of the firm’s stock in a transaction dated 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 11.47 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Darren M. Rebelez sold 13,500 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $374.54, for a total value of $5,056,290.00. Following the sale, the chief executive officer now owns 73,838 shares in the company, valued at approximately $27,655,284.52. This represents a 15.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.56% of the company’s stock.

Casey’s General Stores 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.