Arkfeld Wealth Strategies L.L.C. Has $8.39 Million Stake in Casey’s General Stores, Inc. (NASDAQ:CASY)

Arkfeld Wealth Strategies L.L.C. decreased its position in Casey’s General Stores, Inc. (NASDAQ:CASY) by 0.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 21,382 shares of the company’s stock after selling 26 shares during the quarter. Casey’s General Stores comprises 3.9% of Arkfeld Wealth Strategies L.L.C.’s holdings, making the stock its 6th largest position. Arkfeld Wealth Strategies L.L.C.’s holdings in Casey’s General Stores were worth $8,393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Soros Capital Management LLC increased its stake in Casey’s General Stores by 1,825.6% in the 3rd quarter. Soros Capital Management LLC now owns 27,632 shares of the company’s stock worth $10,382,000 after purchasing an additional 26,197 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Casey’s General Stores by 9.9% during the third quarter. PNC Financial Services Group Inc. now owns 14,725 shares of the company’s stock valued at $5,532,000 after buying an additional 1,332 shares during the period. Lord Abbett & CO. LLC purchased a new position in shares of Casey’s General Stores during the third quarter valued at approximately $23,294,000. JPMorgan Chase & Co. increased its stake in shares of Casey’s General Stores by 18.7% during the third quarter. JPMorgan Chase & Co. now owns 758,804 shares of the company’s stock valued at $285,090,000 after buying an additional 119,350 shares during the period. Finally, FMR LLC increased its stake in shares of Casey’s General Stores by 3.8% during the third quarter. FMR LLC now owns 1,046,830 shares of the company’s stock valued at $393,305,000 after buying an additional 38,226 shares during the period. Institutional investors own 85.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Gordon Haskett assumed coverage on Casey’s General Stores in a research note on Monday, November 4th. They set a “hold” rating and a $400.00 target price on the stock. BMO Capital Markets reissued a “market perform” rating and set a $450.00 target price (up from $400.00) on shares of Casey’s General Stores in a research note on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft boosted their target price 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. StockNews.com cut Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 13th. Finally, Evercore ISI upped their price target on Casey’s General Stores from $460.00 to $470.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. 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, Casey’s General Stores presently has an average rating of “Moderate Buy” and an average target price of $424.00.

Casey’s General Stores Trading Up 0.8 %

Casey’s General Stores stock opened at $411.25 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.49 and a debt-to-equity ratio of 0.74. The business’s fifty day simple moving average is $407.89 and its two-hundred day simple moving average is $390.25. Casey’s General Stores, Inc. has a 12 month low of $268.07 and a 12 month high of $439.68. The company has a market capitalization of $15.27 billion, a price-to-earnings ratio of 28.66, a price-to-earnings-growth ratio of 2.29 and a beta of 0.82.

Casey’s General Stores (NASDAQ:CASY) last released its earnings results on Monday, December 9th. The company reported $4.85 EPS for the quarter, topping the consensus estimate of $4.29 by $0.56. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. The business 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 company posted $4.24 earnings per share. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, equities analysts predict 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 announced a quarterly dividend, which will be paid on Monday, February 17th. Shareholders of record on Monday, February 3rd will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.49%. The ex-dividend date is Monday, February 3rd. Casey’s General Stores’s dividend payout ratio (DPR) is 13.94%.

Insiders Place Their Bets

In other news, insider Katrina S. Lindsey sold 450 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was 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 of the company’s stock, valued at $959,761.11. This represents a 16.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mike Spanos purchased 500 shares of the stock in a transaction dated Monday, December 23rd. The shares were acquired at an average cost of $396.76 per share, for a total transaction of $198,380.00. Following the completion of the acquisition, the director now owns 3,097 shares of the company’s stock, valued at approximately $1,228,765.72. This 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.

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.