Integrated Advisors Network LLC Makes New $283,000 Investment in Casey’s General Stores, Inc. (NASDAQ:CASY)

Integrated Advisors Network LLC purchased a new position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) during the third quarter, HoldingsChannel.com reports. The fund purchased 753 shares of the company’s stock, valued at approximately $283,000.

A number of other large investors also recently bought and sold shares of the stock. abrdn plc purchased a new position in Casey’s General Stores during the third quarter worth approximately $30,538,000. J.W. Cole Advisors Inc. purchased a new position in shares of Casey’s General Stores in the 3rd quarter valued at $201,000. State of Alaska Department of Revenue raised its stake in shares of Casey’s General Stores by 2.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 13,461 shares of the company’s stock valued at $5,056,000 after acquiring an additional 290 shares during the period. Smith Salley Wealth Management raised its stake in shares of Casey’s General Stores by 4.6% in the 3rd quarter. Smith Salley Wealth Management now owns 29,235 shares of the company’s stock valued at $10,984,000 after acquiring an additional 1,278 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of Casey’s General Stores by 15.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 8,911 shares of the company’s stock valued at $3,321,000 after acquiring an additional 1,194 shares during the period. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Insiders Place Their Bets

In other Casey’s General Stores news, CEO Darren M. Rebelez sold 13,500 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $374.54, for a total transaction of $5,056,290.00. Following the completion of the transaction, the chief executive officer now directly owns 73,838 shares of the company’s stock, valued at $27,655,284.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Casey’s General Stores news, Director Mike Spanos purchased 267 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was acquired at an average cost of $376.18 per share, with a total value of $100,440.06. Following the acquisition, the director now owns 2,594 shares of the company’s stock, valued at approximately $975,810.92. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Darren M. Rebelez sold 13,500 shares of Casey’s General Stores stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $374.54, for a total transaction of $5,056,290.00. Following the completion of the transaction, the chief executive officer now directly owns 73,838 shares of the company’s stock, valued at $27,655,284.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.56% of the stock is owned by company insiders.

Casey’s General Stores Price Performance

Shares of CASY stock opened at $393.19 on Friday. The firm has a market cap of $14.60 billion, a P/E ratio of 28.62 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.84 and a quick ratio of 0.44. Casey’s General Stores, Inc. has a 1-year low of $266.56 and a 1-year high of $401.17. The firm has a fifty day moving average of $378.56 and a two-hundred day moving average of $362.82.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Wednesday, September 4th. The company reported $4.83 earnings per share for the quarter, topping the consensus estimate of $4.54 by $0.29. The company had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.15 billion. Casey’s General Stores had a net margin of 3.40% and a return on equity of 17.07%. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period last year, the business earned $4.52 EPS. As a group, research analysts anticipate that Casey’s General Stores, Inc. will post 14.01 earnings per share for the current fiscal year.

Casey’s General Stores Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend is Friday, November 1st. Casey’s General Stores’s dividend payout ratio is currently 14.56%.

Wall Street Analysts Forecast Growth

CASY has been the topic of a number of research reports. Northcoast Research raised shares of Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $410.00 target price on the stock in a research note on Thursday, July 11th. JPMorgan Chase & Co. downgraded shares of Casey’s General Stores from a “neutral” rating to an “underweight” rating and raised their target price for the company from $300.00 to $337.00 in a research note on Thursday, September 19th. Wells Fargo & Company raised their price target on shares of Casey’s General Stores from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Casey’s General Stores from $420.00 to $444.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, Benchmark reaffirmed a “buy” rating and set a $410.00 price target on shares of Casey’s General Stores in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $408.09.

About Casey’s General Stores

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.