Casey’s General Stores, Inc. (NASDAQ:CASY) Position Increased by Covenant Partners LLC

Covenant Partners LLC lifted its position in Casey’s General Stores, Inc. (NASDAQ:CASY) by 5.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 791 shares of the company’s stock after acquiring an additional 40 shares during the period. Covenant Partners LLC’s holdings in Casey’s General Stores were worth $297,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CASY. Park Place Capital Corp purchased a new stake in Casey’s General Stores in the 2nd quarter worth approximately $31,000. Advisors Asset Management Inc. purchased a new stake in shares of Casey’s General Stores during the first quarter worth $32,000. Innealta Capital LLC purchased a new stake in shares of Casey’s General Stores during the second quarter worth $32,000. Bank & Trust Co acquired a new stake in Casey’s General Stores during the second quarter valued at $40,000. Finally, V Square Quantitative Management LLC boosted its position in Casey’s General Stores by 22.5% during the third quarter. V Square Quantitative Management LLC now owns 158 shares of the company’s stock valued at $59,000 after purchasing an additional 29 shares during the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

Insider Buying and Selling

In other Casey’s General Stores news, Director Mike Spanos purchased 267 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was acquired at an average cost of $376.18 per share, with a total value of $100,440.06. Following the completion of the purchase, the director now directly owns 2,594 shares in the company, valued at approximately $975,810.92. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Thomas P. Brennan, Jr. sold 3,000 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $380.24, for a total transaction of $1,140,720.00. Following the completion of the transaction, the insider now directly owns 9,044 shares in the company, valued at approximately $3,438,890.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mike Spanos purchased 267 shares of the stock in a transaction dated Wednesday, September 18th. The stock was bought at an average cost of $376.18 per share, with a total value of $100,440.06. Following the completion of the purchase, the director now owns 2,594 shares in the company, valued at $975,810.92. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.47% of the company’s stock.

Casey’s General Stores Price Performance

NASDAQ CASY traded up $4.51 during trading hours on Friday, reaching $391.13. 144,956 shares of the company’s stock were exchanged, compared to its average volume of 272,074. The firm has a fifty day moving average of $376.38 and a 200-day moving average of $359.85. The company has a current ratio of 0.84, a quick ratio of 0.44 and a debt-to-equity ratio of 0.44. Casey’s General Stores, Inc. has a one year low of $266.55 and a one year high of $401.07. The stock has a market cap of $14.52 billion, a PE ratio of 29.12 and a beta of 0.80.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Wednesday, September 4th. The company reported $4.83 earnings per share for the quarter, beating the consensus estimate of $4.54 by $0.29. Casey’s General Stores had a net margin of 3.40% and a return on equity of 17.07%. The firm had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter last year, the company posted $4.52 EPS. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. On average, equities research analysts predict that Casey’s General Stores, Inc. will post 14.01 earnings per share for the current fiscal year.

Casey’s General Stores Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders 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 dividend yield of 0.51%. The ex-dividend date is Friday, November 1st. Casey’s General Stores’s dividend payout ratio (DPR) is presently 14.89%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Benchmark reiterated a “buy” rating and issued a $410.00 target price on shares of Casey’s General Stores in a research note on Tuesday, September 10th. Melius Research began coverage on shares of Casey’s General Stores in a research note on Monday, September 23rd. They issued a “buy” rating and a $435.00 price objective for the company. Deutsche Bank Aktiengesellschaft increased their target price on shares of Casey’s General Stores from $420.00 to $444.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Wells Fargo & Company boosted their price target on Casey’s General Stores from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Finally, Northcoast Research upgraded shares of Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $410.00 price objective for the company in a research note on Thursday, July 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $408.09.

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.