Trust Point Inc. Purchases Shares of 1,375 Casey’s General Stores, Inc. (NASDAQ:CASY)

Trust Point Inc. acquired a new position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 1,375 shares of the company’s stock, valued at approximately $545,000.

A number of other hedge funds have also modified their holdings of the stock. Endeavor Private Wealth Inc. purchased a new stake in shares of Casey’s General Stores during the fourth quarter valued at $36,000. Venturi Wealth Management LLC raised its holdings in Casey’s General Stores by 941.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 125 shares of the company’s stock worth $47,000 after buying an additional 113 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in Casey’s General Stores by 24.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 149 shares of the company’s stock valued at $59,000 after buying an additional 29 shares in the last quarter. V Square Quantitative Management LLC increased its position in shares of Casey’s General Stores by 22.5% in the third quarter. V Square Quantitative Management LLC now owns 158 shares of the company’s stock worth $59,000 after acquiring an additional 29 shares in the last quarter. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Casey’s General Stores during the fourth quarter valued at approximately $79,000. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Evercore ISI raised their price objective on shares of 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. StockNews.com cut Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 13th. Gordon Haskett initiated coverage on Casey’s General Stores in a research report on Monday, November 4th. They set a “hold” rating and a $400.00 price target on the stock. BMO Capital Markets reissued a “market perform” rating and issued a $450.00 price objective (up from $400.00) on shares of Casey’s General Stores in a research note on Wednesday, December 18th. Finally, Royal Bank of Canada lifted their target price on Casey’s General Stores from $403.00 to $428.00 and gave the company a “sector perform” rating in a research note on Tuesday, December 10th. 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 data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $424.00.

Casey’s General Stores Stock Up 0.3 %

Shares of Casey’s General Stores stock opened at $420.99 on Wednesday. The stock has a 50-day simple moving average of $408.16 and a 200-day simple moving average of $392.50. Casey’s General Stores, Inc. has a 52-week low of $269.50 and a 52-week high of $439.68. The firm has a market cap of $15.63 billion, a price-to-earnings ratio of 29.34, a P/E/G ratio of 2.40 and a beta of 0.83. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.88 and a quick ratio of 0.49.

Casey’s General Stores (NASDAQ:CASY) last posted 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. The company had revenue of $3.95 billion during the quarter, compared to the consensus estimate 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 for the quarter was down 2.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.24 earnings per share. On average, equities research analysts expect that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey’s General Stores Announces Dividend

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 dividend of $0.50 per share. The ex-dividend date is Monday, February 3rd. This represents a $2.00 annualized dividend and a yield of 0.48%. Casey’s General Stores’s dividend payout ratio (DPR) is currently 13.94%.

Insiders Place Their Bets

In related news, insider Katrina S. Lindsey sold 450 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $427.13, for a total value of $192,208.50. Following the completion of the sale, the insider now directly owns 2,247 shares in the company, valued at approximately $959,761.11. The trade was a 16.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mike Spanos purchased 500 shares of the stock in a transaction on Monday, December 23rd. The shares were bought at an average price of $396.76 per share, for a total transaction of $198,380.00. Following the acquisition, the director now owns 3,097 shares of the company’s stock, valued at approximately $1,228,765.72. The trade was a 19.25 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 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.