Casey’s General Stores, Inc. (NASDAQ:CASY) Shares Bought by WealthPlan Investment Management LLC

WealthPlan Investment Management LLC lifted its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 13.5% during the third quarter, HoldingsChannel reports. The firm owned 41,123 shares of the company’s stock after purchasing an additional 4,902 shares during the quarter. Casey’s General Stores comprises about 1.6% of WealthPlan Investment Management LLC’s holdings, making the stock its 12th largest holding. WealthPlan Investment Management LLC’s holdings in Casey’s General Stores were worth $15,450,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Casey’s General Stores during the first quarter valued at about $794,000. Bailard Inc. acquired a new stake in shares of Casey’s General Stores during the second quarter worth approximately $1,021,000. Marks Group Wealth Management Inc bought a new stake in shares of Casey’s General Stores in the third quarter worth $5,489,000. SG Americas Securities LLC acquired a new stake in Casey’s General Stores in the second quarter valued at $2,183,000. Finally, Cetera Investment Advisers boosted its stake in Casey’s General Stores by 255.8% during the 1st quarter. Cetera Investment Advisers now owns 9,291 shares of the company’s stock valued at $2,959,000 after acquiring an additional 6,680 shares during the last quarter. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Melius Research began coverage on shares of Casey’s General Stores in a research note on Monday, September 23rd. They issued a “buy” rating and a $435.00 target price on the stock. Benchmark reaffirmed a “buy” rating and set a $410.00 target price on shares of Casey’s General Stores in a report on Tuesday, September 10th. Royal Bank of Canada upped their price target on Casey’s General Stores from $393.00 to $403.00 and gave the company a “sector perform” rating in a research report on Thursday, September 5th. Gordon Haskett initiated coverage on shares of Casey’s General Stores in a report on Monday, November 4th. They issued a “hold” rating and a $400.00 price objective for the company. Finally, Evercore ISI raised their price target on shares of Casey’s General Stores from $435.00 to $440.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $408.25.

Insiders Place Their Bets

In related news, insider Thomas P. Brennan, Jr. sold 3,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 9,044 shares in the company, valued at $3,438,890.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Casey’s General Stores news, Director Mike Spanos acquired 267 shares of Casey’s General Stores stock in a transaction dated Wednesday, September 18th. The stock was bought at an average price of $376.18 per share, for a total transaction of $100,440.06. Following the transaction, the director now owns 2,594 shares in the company, valued at approximately $975,810.92. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Thomas P. Brennan, Jr. sold 3,000 shares of the business’s 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 owns 9,044 shares in the company, valued at $3,438,890.56. The trade was 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 insiders.

Casey’s General Stores Stock Performance

Shares of NASDAQ CASY opened at $410.97 on Tuesday. Casey’s General Stores, Inc. has a 12-month low of $266.56 and a 12-month high of $420.27. The company has a market cap of $15.26 billion, a PE ratio of 29.91 and a beta of 0.79. The stock has a 50 day simple moving average of $383.05 and a 200-day simple moving average of $367.39. The company has a current ratio of 0.84, a quick ratio of 0.44 and a debt-to-equity ratio of 0.44.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings results on Wednesday, September 4th. The company reported $4.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 17.07% and a net margin of 3.40%. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.52 EPS. On average, equities research analysts forecast that Casey’s General Stores, Inc. will post 14.24 EPS for the current year.

Casey’s General Stores Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $2.00 annualized dividend and a yield of 0.49%. Casey’s General Stores’s payout ratio is 14.56%.

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.