Intech Investment Management LLC Raises Stock Holdings in Casey’s General Stores, Inc. (NASDAQ:CASY)

Intech Investment Management LLC increased its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 125.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,575 shares of the company’s stock after purchasing an additional 6,446 shares during the quarter. Intech Investment Management LLC’s holdings in Casey’s General Stores were worth $4,586,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. YANKCOM Partnership purchased a new stake in Casey’s General Stores in the fourth quarter valued at about $34,000. Endeavor Private Wealth Inc. purchased a new stake in Casey’s General Stores in the fourth quarter valued at about $36,000. MassMutual Private Wealth & Trust FSB raised its stake in Casey’s General Stores by 24.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 149 shares of the company’s stock valued at $59,000 after buying an additional 29 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in Casey’s General Stores in the fourth quarter valued at about $79,000. Finally, V Square Quantitative Management LLC raised its stake in shares of Casey’s General Stores by 32.9% in the fourth quarter. V Square Quantitative Management LLC now owns 210 shares of the company’s stock worth $83,000 after purchasing an additional 52 shares during the last quarter. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Casey’s General Stores Stock Down 3.2 %

Shares of CASY opened at $386.89 on Wednesday. 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 12 month low of $306.42 and a 12 month high of $445.17. The stock’s 50 day moving average is $409.53 and its two-hundred day moving average is $400.54. The firm has a market cap of $14.36 billion, a P/E ratio of 26.96, a PEG ratio of 2.40 and a beta of 0.87.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Tuesday, March 11th. The company reported $2.33 EPS for the quarter, beating the consensus estimate of $1.76 by $0.57. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. The company had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.74 billion. During the same period last year, the company earned $2.33 earnings per share. Casey’s General Stores’s quarterly revenue was up 17.2% compared to the same quarter last year. Analysts predict that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey’s General Stores Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend is Thursday, May 1st. Casey’s General Stores’s payout ratio is currently 13.94%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CASY shares. Royal Bank of Canada set a $438.00 price objective on Casey’s General Stores and gave the stock a “sector perform” rating in a research note on Wednesday, March 12th. BMO Capital Markets restated a “market perform” rating and issued a $450.00 price objective (up from $400.00) on shares of Casey’s General Stores in a research note on Wednesday, December 18th. Evercore ISI reduced their price objective on Casey’s General Stores from $460.00 to $450.00 and set an “outperform” rating for the company in a research note on Tuesday, March 11th. StockNews.com cut Casey’s General Stores from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Finally, Gordon Haskett upgraded Casey’s General Stores from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $423.09.

Insider Buying and Selling at Casey’s General Stores

In other news, Director Mike Spanos purchased 256 shares of the stock in a transaction dated Thursday, March 13th. The shares were purchased at an average cost of $390.54 per share, with a total value of $99,978.24. Following the completion of the purchase, the director now directly owns 3,356 shares of the company’s stock, valued at approximately $1,310,652.24. The trade was a 8.26 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.56% of the stock is owned by corporate insiders.

Casey’s General Stores 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.