Intech Investment Management LLC Acquires 786 Shares of Casey’s General Stores, Inc. (NASDAQ:CASY)

Intech Investment Management LLC lifted its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 18.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,129 shares of the company’s stock after purchasing an additional 786 shares during the quarter. Intech Investment Management LLC’s holdings in Casey’s General Stores were worth $1,927,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. AdvisorNet Financial Inc raised its stake in shares of Casey’s General Stores by 10.1% during the second quarter. AdvisorNet Financial Inc now owns 317 shares of the company’s stock valued at $121,000 after acquiring an additional 29 shares during the last quarter. V Square Quantitative Management LLC raised its holdings in Casey’s General Stores by 22.5% during the third quarter. V Square Quantitative Management LLC now owns 158 shares of the company’s stock worth $59,000 after buying an additional 29 shares during the last quarter. Verus Capital Partners LLC raised its holdings in shares of Casey’s General Stores by 3.1% in the 3rd quarter. Verus Capital Partners LLC now owns 991 shares of the company’s stock worth $372,000 after acquiring an additional 30 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of Casey’s General Stores by 3.3% during the third quarter. CIBC Asset Management Inc now owns 1,078 shares of the company’s stock valued at $405,000 after buying an additional 34 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its holdings in shares of Casey’s General Stores by 0.3% in the second quarter. Oppenheimer & Co. Inc. now owns 12,769 shares of the company’s stock valued at $4,872,000 after purchasing an additional 37 shares during the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

Insider Buying and Selling

In related news, CEO Darren M. Rebelez sold 13,500 shares of the business’s 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 sale, the chief executive officer now owns 73,838 shares of the company’s stock, valued at approximately $27,655,284.52. The trade was a 15.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mike Spanos bought 267 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were acquired at an average price of $376.18 per share, with a total value of $100,440.06. Following the transaction, the director now owns 2,594 shares of the company’s stock, valued at $975,810.92. The trade was a 11.47 % increase in their position. The disclosure for this purchase can be found here. 0.56% of the stock is owned by company insiders.

Casey’s General Stores Stock Up 2.8 %

NASDAQ:CASY opened at $427.88 on Monday. The company has a current ratio of 0.84, a quick ratio of 0.44 and a debt-to-equity ratio of 0.44. The company’s 50 day moving average is $390.34 and its two-hundred day moving average is $373.12. The company has a market cap of $15.88 billion, a PE ratio of 31.14 and a beta of 0.79. Casey’s General Stores, Inc. has a twelve month low of $266.56 and a twelve month high of $428.61.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Wednesday, September 4th. The company reported $4.83 earnings per share for the quarter, beating analysts’ consensus estimates of $4.54 by $0.29. Casey’s General Stores had a net margin of 3.40% and a return on equity of 17.07%. The firm had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same period last year, the company posted $4.52 EPS. Casey’s General Stores’s quarterly revenue was up 5.9% compared to the same quarter last year. Analysts anticipate that Casey’s General Stores, Inc. will post 14.24 EPS for the current year.

Casey’s General Stores Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Friday, November 1st. Casey’s General Stores’s dividend payout ratio (DPR) is 14.56%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CASY. Benchmark reissued a “buy” rating and set a $410.00 price objective on shares of Casey’s General Stores in a report on Tuesday, September 10th. Royal Bank of Canada boosted their price objective on shares of Casey’s General Stores from $393.00 to $403.00 and gave the company a “sector perform” rating in a research note on Thursday, September 5th. Wells Fargo & Company upped their target price on Casey’s General Stores from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Evercore ISI boosted their price objective on Casey’s General Stores from $435.00 to $440.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Gordon Haskett assumed coverage on shares of 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. 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 company’s stock. According to MarketBeat.com, Casey’s General Stores presently has an average rating of “Moderate Buy” and an average target price of $408.25.

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.