Raleigh Capital Management Inc. Grows Position in Casey’s General Stores, Inc. (NASDAQ:CASY)

Raleigh Capital Management Inc. raised its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 37.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 487 shares of the company’s stock after purchasing an additional 133 shares during the period. Raleigh Capital Management Inc.’s holdings in Casey’s General Stores were worth $193,000 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. International Assets Investment Management LLC bought a new position in shares of Casey’s General Stores during the 3rd quarter valued at approximately $959,880,000. Millennium Management LLC lifted its holdings in Casey’s General Stores by 3,846.1% during the second quarter. Millennium Management LLC now owns 172,320 shares of the company’s stock valued at $65,750,000 after purchasing an additional 176,920 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Casey’s General Stores by 49.9% in the third quarter. Franklin Resources Inc. now owns 524,237 shares of the company’s stock worth $204,861,000 after purchasing an additional 174,586 shares during the period. Benjamin Edwards Inc. increased its stake in shares of Casey’s General Stores by 1,819.1% in the third quarter. Benjamin Edwards Inc. now owns 130,291 shares of the company’s stock worth $48,959,000 after purchasing an additional 123,502 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Casey’s General Stores by 281.4% during the 3rd quarter. Wellington Management Group LLP now owns 164,656 shares of the company’s stock valued at $61,863,000 after purchasing an additional 121,488 shares during the period. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CASY shares. Deutsche Bank Aktiengesellschaft upped their target price on shares of Casey’s General Stores from $451.00 to $454.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Royal Bank of Canada upped their price objective on Casey’s General Stores from $403.00 to $428.00 and gave the stock a “sector perform” rating in a research note on Tuesday, December 10th. BMO Capital Markets reissued a “market perform” rating and set a $450.00 target price (up previously from $400.00) on shares of Casey’s General Stores in a research note on Wednesday, December 18th. StockNews.com cut Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a report on Friday, December 13th. Finally, Gordon Haskett started coverage on shares of Casey’s General Stores in a report on Monday, November 4th. They set a “hold” rating and a $400.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $424.00.

Insider Activity

In related news, insider Katrina S. Lindsey sold 450 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $427.13, for a total transaction of $192,208.50. Following the transaction, the insider now directly owns 2,247 shares in the company, valued at approximately $959,761.11. This represents a 16.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mike Spanos acquired 500 shares of Casey’s General Stores stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average cost of $396.76 per share, for a total transaction of $198,380.00. Following the completion of the transaction, the director now directly owns 3,097 shares in the company, valued at $1,228,765.72. This trade represents a 19.25 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.56% of the company’s stock.

Casey’s General Stores Trading Up 1.6 %

Shares of CASY opened at $407.79 on Friday. The stock has a market capitalization of $15.14 billion, a PE ratio of 28.42, a P/E/G ratio of 2.29 and a beta of 0.82. The company’s fifty day moving average is $407.69 and its 200 day moving average is $389.74. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.49 and a current ratio of 0.88. Casey’s General Stores, Inc. has a fifty-two week low of $268.07 and a fifty-two week high of $439.68.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Monday, December 9th. The company reported $4.85 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $4.03 billion. During the same period in the previous year, the firm posted $4.24 EPS. The business’s quarterly revenue was down 2.9% on a year-over-year basis. Sell-side analysts expect that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey’s General Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 17th. Shareholders of record on Monday, February 3rd will be given a dividend of $0.50 per share. The ex-dividend date is Monday, February 3rd. This represents a $2.00 dividend on an annualized basis and a yield of 0.49%. Casey’s General Stores’s dividend payout ratio (DPR) is presently 13.94%.

About Casey’s General Stores

Casey’s General Stores, Inc engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.