Grandview Asset Management LLC Makes New Investment in Casey’s General Stores, Inc. (NASDAQ:CASY)

Grandview Asset Management LLC purchased a new stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 891 shares of the company’s stock, valued at approximately $353,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. AdvisorNet Financial Inc increased its holdings in shares of Casey’s General Stores by 10.6% in the 4th quarter. AdvisorNet Financial Inc now owns 395 shares of the company’s stock worth $157,000 after purchasing an additional 38 shares in the last quarter. Burns J W & Co. Inc. NY increased its holdings in Casey’s General Stores by 3.5% in the 4th quarter. Burns J W & Co. Inc. NY now owns 1,179 shares of the company’s stock worth $467,000 after buying an additional 40 shares in the last quarter. Graypoint LLC increased its holdings in Casey’s General Stores by 25.4% in the 4th quarter. Graypoint LLC now owns 702 shares of the company’s stock worth $278,000 after buying an additional 142 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in Casey’s General Stores by 9.4% in the 4th quarter. Harbor Capital Advisors Inc. now owns 5,230 shares of the company’s stock worth $2,072,000 after buying an additional 450 shares during the last quarter. Finally, Bath Savings Trust Co lifted its stake in Casey’s General Stores by 6.7% during the 4th quarter. Bath Savings Trust Co now owns 8,678 shares of the company’s stock valued at $3,438,000 after acquiring an additional 547 shares during the period. Institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Stock Up 1.7 %

CASY stock opened at $392.54 on Tuesday. The business’s 50-day moving average price is $409.76 and its 200-day moving average price is $388.69. The stock has a market cap of $14.57 billion, a P/E ratio of 27.35 and a beta of 0.82. Casey’s General Stores, Inc. has a twelve month low of $268.07 and a twelve month high of $439.68. The company has a quick ratio of 0.44, a current ratio of 0.88 and a debt-to-equity ratio of 0.74.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly 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. The business had revenue of $3.95 billion during the quarter, compared to analyst estimates of $4.03 billion. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. The company’s revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $4.24 earnings per share. On average, equities research analysts forecast that Casey’s General Stores, Inc. will post 14.28 EPS for the current year.

Casey’s General Stores Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 17th. Shareholders of record on Monday, February 3rd will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.00 dividend on an annualized basis and a yield of 0.51%. Casey’s General Stores’s dividend payout ratio is presently 13.94%.

Insider Activity

In other Casey’s General Stores news, insider Katrina S. Lindsey sold 450 shares of the 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 completion of the transaction, the insider now owns 2,247 shares of the company’s stock, valued at $959,761.11. This represents a 16.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mike Spanos acquired 500 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were purchased at an average price of $396.76 per share, with a total value of $198,380.00. Following the transaction, 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. Company insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CASY shares. Melius Research assumed 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 target for the company. Gordon Haskett initiated coverage on shares of Casey’s General Stores in a research note on Monday, November 4th. They set a “hold” rating and a $400.00 target price for the company. Royal Bank of Canada raised their price target 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. StockNews.com cut Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 13th. Finally, JPMorgan Chase & Co. cut Casey’s General Stores from a “neutral” rating to an “underweight” rating and raised their target price for the stock from $300.00 to $337.00 in a research report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $424.00.

Casey’s General Stores Company Profile

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.