Nordwand Advisors LLC Invests $6.53 Million in Casey’s General Stores, Inc. $CASY

Nordwand Advisors LLC acquired a new stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) in the second quarter, Holdings Channel.com reports. The firm acquired 12,789 shares of the company’s stock, valued at approximately $6,526,000. Casey’s General Stores makes up about 1.0% of Nordwand Advisors LLC’s investment portfolio, making the stock its 27th largest position.

Several other hedge funds have also made changes to their positions in the stock. Wellington Management Group LLP grew its position in Casey’s General Stores by 190.6% during the first quarter. Wellington Management Group LLP now owns 1,244,311 shares of the company’s stock worth $540,081,000 after buying an additional 816,110 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Casey’s General Stores by 42.0% in the 1st quarter. JPMorgan Chase & Co. now owns 1,036,426 shares of the company’s stock worth $449,851,000 after acquiring an additional 306,628 shares during the period. Third Point LLC bought a new stake in shares of Casey’s General Stores in the 1st quarter worth approximately $130,212,000. Nuveen LLC acquired a new stake in shares of Casey’s General Stores during the 1st quarter worth approximately $76,467,000. Finally, Alyeska Investment Group L.P. bought a new stake in shares of Casey’s General Stores during the first quarter valued at approximately $65,298,000. Institutional investors own 85.63% of the company’s stock.

Analyst Upgrades and Downgrades

CASY has been the subject of a number of recent research reports. Evercore ISI upped their target price on Casey’s General Stores from $580.00 to $585.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Wells Fargo & Company assumed coverage on shares of Casey’s General Stores in a report on Wednesday, October 15th. They issued an “overweight” rating and a $610.00 price target on the stock. KeyCorp increased their price objective on shares of Casey’s General Stores from $550.00 to $575.00 and gave the company an “overweight” rating in a research note on Friday, July 25th. The Goldman Sachs Group lifted their target price on shares of Casey’s General Stores from $450.00 to $490.00 and gave the company a “neutral” rating in a research report on Wednesday, September 10th. Finally, Stephens reissued an “overweight” rating and issued a $570.00 target price on shares of Casey’s General Stores in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $564.00.

Casey’s General Stores Stock Performance

Casey’s General Stores stock opened at $536.34 on Tuesday. The firm has a market capitalization of $19.94 billion, a P/E ratio of 34.42 and a beta of 0.66. The stock has a fifty day moving average price of $545.67 and a two-hundred day moving average price of $511.48. Casey’s General Stores, Inc. has a 52-week low of $372.08 and a 52-week high of $572.18. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.03 and a quick ratio of 0.61.

Casey’s General Stores (NASDAQ:CASY) last issued its earnings results on Monday, September 8th. The company reported $5.77 EPS for the quarter, beating the consensus estimate of $5.02 by $0.75. Casey’s General Stores had a net margin of 3.54% and a return on equity of 16.73%. The company had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.47 billion. During the same quarter in the previous year, the company earned $4.83 EPS. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, analysts anticipate that Casey’s General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey’s General Stores Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Saturday, November 1st were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Friday, October 31st. Casey’s General Stores’s dividend payout ratio is currently 14.63%.

Insiders Place Their Bets

In other news, insider Chad Michael Frazell sold 3,487 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $555.40, for a total transaction of $1,936,679.80. Following the completion of the sale, the insider owned 7,993 shares of the company’s stock, valued at approximately $4,439,312.20. This trade represents a 30.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.54% 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.