Casey’s General Stores, Inc. (NASDAQ:CASY) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC boosted its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 11.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 773 shares of the company’s stock after acquiring an additional 82 shares during the period. GAMMA Investing LLC’s holdings in Casey’s General Stores were worth $290,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Congress Asset Management Co. MA acquired a new position in Casey’s General Stores during the first quarter worth $112,081,000. Kapitalo Investimentos Ltda acquired a new position in Casey’s General Stores during the fourth quarter worth $903,000. Susquehanna Fundamental Investments LLC acquired a new position in Casey’s General Stores during the first quarter worth $794,000. Rheos Capital Works Inc. acquired a new position in Casey’s General Stores during the first quarter worth $15,604,000. Finally, Nordea Investment Management AB raised its position in Casey’s General Stores by 2.0% during the first quarter. Nordea Investment Management AB now owns 21,919 shares of the company’s stock worth $6,976,000 after acquiring an additional 437 shares during the period. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Royal Bank of Canada increased their target price on shares of 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. BMO Capital Markets increased their target price on shares of Casey’s General Stores from $305.00 to $400.00 and gave the company a “market perform” rating in a research report on Thursday, June 13th. JPMorgan Chase & Co. cut shares of Casey’s General Stores from a “neutral” rating to an “underweight” rating and increased their target price for the company from $300.00 to $337.00 in a research report on Thursday, September 19th. Northcoast Research upgraded shares of Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $410.00 target price for the company in a research report on Thursday, July 11th. Finally, Evercore ISI increased their target price on shares of Casey’s General Stores from $410.00 to $435.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Casey’s General Stores currently has an average rating of “Moderate Buy” and an average target price of $407.64.

Insiders Place Their Bets

In other Casey’s General Stores news, CEO Darren M. Rebelez sold 13,500 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $374.54, for a total transaction of $5,056,290.00. Following the completion of the transaction, the chief executive officer now owns 73,838 shares of the company’s stock, valued at $27,655,284.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Darren M. Rebelez sold 13,500 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $374.54, for a total value of $5,056,290.00. Following the completion of the transaction, the chief executive officer now owns 73,838 shares of the company’s stock, valued at approximately $27,655,284.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mike Spanos bought 267 shares of Casey’s General Stores stock in a transaction that occurred on Wednesday, September 18th. The stock was purchased at an average cost of $376.18 per share, for a total transaction of $100,440.06. Following the acquisition, the director now owns 2,594 shares of the company’s stock, valued at $975,810.92. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.47% of the stock is currently owned by insiders.

Casey’s General Stores Trading Down 2.6 %

Shares of CASY stock opened at $380.88 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.84 and a quick ratio of 0.44. The firm has a market cap of $14.13 billion, a PE ratio of 28.36 and a beta of 0.80. The company has a 50-day moving average of $372.68 and a two-hundred day moving average of $354.24. Casey’s General Stores, Inc. has a 1-year low of $260.13 and a 1-year high of $401.07.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Wednesday, September 4th. The company reported $4.83 earnings per share for the quarter, topping the consensus estimate 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 net margin of 3.40% and a return on equity of 17.07%. Casey’s General Stores’s revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the firm posted $4.52 earnings per share. On average, analysts predict that Casey’s General Stores, Inc. will post 14.01 EPS for the current year.

Casey’s General Stores Dividend Announcement

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. This represents a $2.00 annualized dividend and a yield of 0.53%. The ex-dividend date is Friday, November 1st. Casey’s General Stores’s dividend payout ratio (DPR) is presently 14.89%.

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.