Financial Advocates Investment Management Raises Stake in Casey’s General Stores, Inc. (NASDAQ:CASY)

Financial Advocates Investment Management grew its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 2.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,799 shares of the company’s stock after acquiring an additional 42 shares during the quarter. Financial Advocates Investment Management’s holdings in Casey’s General Stores were worth $676,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Park Place Capital Corp purchased a new position in Casey’s General Stores in the 2nd quarter worth $31,000. Advisors Asset Management Inc. bought a new position in shares of Casey’s General Stores in the first quarter worth approximately $32,000. Innealta Capital LLC purchased a new stake in shares of Casey’s General Stores during the second quarter valued at approximately $32,000. Bank & Trust Co bought a new stake in shares of Casey’s General Stores in the 2nd quarter worth $40,000. Finally, V Square Quantitative Management LLC boosted its position in shares of 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 valued at $59,000 after buying an additional 29 shares during the last quarter. 85.63% of the stock is currently owned by institutional investors.

Casey’s General Stores Trading Down 0.2 %

CASY opened at $393.19 on Friday. The company has a quick ratio of 0.44, a current ratio of 0.84 and a debt-to-equity ratio of 0.44. Casey’s General Stores, Inc. has a 52 week low of $266.56 and a 52 week high of $401.17. The business’s 50 day moving average is $378.56 and its two-hundred day moving average is $362.82. The firm has a market cap of $14.60 billion, a price-to-earnings ratio of 28.62 and a beta of 0.80.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Wednesday, September 4th. The company reported $4.83 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter in the prior year, the firm earned $4.52 EPS. Casey’s General Stores’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, research analysts predict that Casey’s General Stores, Inc. will post 14.01 EPS for the current year.

Casey’s General Stores Dividend Announcement

The business 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 dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend 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%.

Insider Activity at Casey’s General Stores

In other Casey’s General Stores news, insider Thomas P. Brennan, Jr. sold 3,000 shares of the 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 sale, the insider now directly owns 9,044 shares of the company’s stock, valued at approximately $3,438,890.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Thomas P. Brennan, Jr. sold 3,000 shares of the stock in a transaction dated Friday, September 6th. The shares were 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 of the company’s stock, valued at $3,438,890.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Darren M. Rebelez sold 13,500 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 73,838 shares of the company’s stock, valued at $27,655,284.52. This 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 currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on CASY shares. Wells Fargo & Company upped their target price on shares of Casey’s General Stores from $415.00 to $425.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Melius Research initiated coverage on Casey’s General Stores in a research report on Monday, September 23rd. They set a “buy” rating and a $435.00 price objective for the company. Evercore ISI increased their price target on Casey’s General Stores from $435.00 to $440.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft upped their target price on Casey’s General Stores from $420.00 to $444.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, 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. One 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 a consensus rating of “Moderate Buy” and an average price target of $408.09.

Casey’s General Stores Company 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.