Geode Capital Management LLC Purchases 8,428 Shares of Casey’s General Stores, Inc. (NASDAQ:CASY)

Geode Capital Management LLC boosted its position in Casey’s General Stores, Inc. (NASDAQ:CASY) by 1.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 655,488 shares of the company’s stock after purchasing an additional 8,428 shares during the period. Geode Capital Management LLC owned about 1.77% of Casey’s General Stores worth $246,335,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Innealta Capital LLC purchased a new position in shares of Casey’s General Stores in the second quarter worth approximately $32,000. Venturi Wealth Management LLC raised its position in Casey’s General Stores by 941.7% in the third quarter. Venturi Wealth Management LLC now owns 125 shares of the company’s stock worth $47,000 after acquiring an additional 113 shares during the period. V Square Quantitative Management LLC boosted its stake in shares of Casey’s General Stores by 22.5% during the 3rd quarter. V Square Quantitative Management LLC now owns 158 shares of the company’s stock worth $59,000 after acquiring an additional 29 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of Casey’s General Stores during the 2nd quarter valued at $68,000. Finally, Quarry LP purchased a new stake in shares of Casey’s General Stores in the 2nd quarter worth $72,000. 85.63% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CASY has been the subject of several recent research reports. Wells Fargo & Company boosted their price target on 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 boosted their price objective on Casey’s General Stores from $451.00 to $454.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Benchmark restated a “buy” rating and set a $410.00 target price on shares of Casey’s General Stores in a research note on Tuesday, September 10th. JPMorgan Chase & Co. lowered shares of Casey’s General Stores from a “neutral” rating to an “underweight” rating and upped their price target for the stock from $300.00 to $337.00 in a research report on Thursday, September 19th. Finally, Evercore ISI raised their price objective on shares of Casey’s General Stores from $460.00 to $470.00 and gave the company an “outperform” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Casey’s General Stores has a consensus rating of “Moderate Buy” and a consensus target price of $419.45.

Casey’s General Stores Price Performance

Shares of NASDAQ:CASY opened at $425.27 on Friday. The firm has a market cap of $15.79 billion, a price-to-earnings ratio of 29.64 and a beta of 0.80. The firm has a fifty day moving average price of $405.04 and a 200 day moving average price of $381.71. Casey’s General Stores, Inc. has a fifty-two week low of $266.58 and a fifty-two week high of $439.68. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.44 and a current ratio of 0.88.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings data on Monday, December 9th. The company reported $4.85 EPS for the quarter, beating the consensus estimate of $4.29 by $0.56. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. The business had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter in the prior year, the firm earned $4.24 EPS. The business’s revenue was down 2.9% on a year-over-year basis. As a group, sell-side analysts expect that Casey’s General Stores, Inc. will post 14.28 earnings per share for the current fiscal year.

Casey’s General Stores Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 17th. Shareholders of record on Monday, February 3rd will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Monday, February 3rd. Casey’s General Stores’s dividend payout ratio is presently 13.94%.

Insiders Place Their Bets

In other Casey’s General Stores news, insider Katrina S. Lindsey sold 450 shares of Casey’s General Stores stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $427.13, for a total value of $192,208.50. Following the completion of the transaction, the insider now directly owns 2,247 shares of the company’s stock, valued at $959,761.11. This trade represents a 16.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Mike Spanos bought 267 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were acquired at an average price of $376.18 per share, for a total transaction of $100,440.06. Following the completion of the transaction, the director now directly owns 2,594 shares in the company, valued at approximately $975,810.92. This represents a 11.47 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.56% of the company’s stock.

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.