Victory Capital Management Inc. Has $47.81 Million Stock Position in Casey’s General Stores, Inc. (NASDAQ:CASY)

Victory Capital Management Inc. lifted its stake in Casey’s General Stores, Inc. (NASDAQ:CASY) by 1.4% in the third quarter, HoldingsChannel reports. The firm owned 127,262 shares of the company’s stock after purchasing an additional 1,701 shares during the period. Victory Capital Management Inc.’s holdings in Casey’s General Stores were worth $47,814,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. International Assets Investment Management LLC purchased a new stake in shares of Casey’s General Stores during the 3rd quarter worth about $959,880,000. Millennium Management LLC raised its stake in shares of Casey’s General Stores by 3,846.1% during the 2nd quarter. Millennium Management LLC now owns 172,320 shares of the company’s stock worth $65,750,000 after purchasing an additional 176,920 shares in the last quarter. Bridges Investment Management Inc. raised its stake in shares of Casey’s General Stores by 110.0% during the 2nd quarter. Bridges Investment Management Inc. now owns 177,190 shares of the company’s stock worth $67,609,000 after purchasing an additional 92,813 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Casey’s General Stores by 189.1% during the 2nd quarter. American Century Companies Inc. now owns 132,375 shares of the company’s stock worth $50,509,000 after purchasing an additional 86,582 shares in the last quarter. Finally, abrdn plc purchased a new stake in shares of Casey’s General Stores during the 3rd quarter worth about $30,538,000. Institutional investors and hedge funds own 85.63% of the company’s stock.

Insider Transactions at Casey’s General Stores

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 value 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 15.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mike Spanos purchased 267 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was purchased at an average cost of $376.18 per share, with a total value of $100,440.06. Following the completion of the acquisition, the director now owns 2,594 shares in the company, valued at approximately $975,810.92. This trade represents a 11.47 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.56% of the stock is currently owned by company insiders.

Casey’s General Stores Price Performance

CASY stock opened at $401.40 on Friday. The company’s fifty day simple moving average is $386.44 and its 200 day simple moving average is $369.16. Casey’s General Stores, Inc. has a 12-month low of $266.56 and a 12-month high of $420.27. The firm has a market cap of $14.90 billion, a price-to-earnings ratio of 29.21 and a beta of 0.79. 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 (NASDAQ:CASY) last posted its earnings results on Wednesday, September 4th. The company reported $4.83 EPS 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 the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the firm posted $4.52 earnings per share. On average, analysts expect that Casey’s General Stores, Inc. will post 14.24 earnings per share for the current year.

Casey’s General Stores Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CASY. Evercore ISI raised their price objective on Casey’s General Stores from $435.00 to $440.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Royal Bank of Canada lifted their target price 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. 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. Deutsche Bank Aktiengesellschaft increased their target price on Casey’s General Stores from $451.00 to $454.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, Melius Research began coverage on Casey’s General Stores in a report on Monday, September 23rd. They set a “buy” rating and a $435.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.