Casey’s General Stores, Inc. (NASDAQ:CASY) Shares Bought by Moors & Cabot Inc.

Moors & Cabot Inc. raised its holdings in Casey’s General Stores, Inc. (NASDAQ:CASY) by 15.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,360 shares of the company’s stock after buying an additional 1,351 shares during the period. Moors & Cabot Inc.’s holdings in Casey’s General Stores were worth $3,953,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in CASY. Norges Bank purchased a new position in shares of Casey’s General Stores during the fourth quarter worth about $115,799,000. Congress Asset Management Co. MA purchased a new position in shares of Casey’s General Stores during the first quarter worth about $112,081,000. Point72 Asset Management L.P. grew its holdings in shares of Casey’s General Stores by 561.7% during the fourth quarter. Point72 Asset Management L.P. now owns 273,168 shares of the company’s stock worth $75,050,000 after purchasing an additional 231,887 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Casey’s General Stores by 113.0% during the first quarter. Principal Financial Group Inc. now owns 291,838 shares of the company’s stock worth $92,936,000 after purchasing an additional 154,803 shares during the last quarter. Finally, DAVENPORT & Co LLC grew its holdings in shares of Casey’s General Stores by 11,242.6% during the first quarter. DAVENPORT & Co LLC now owns 107,641 shares of the company’s stock worth $34,284,000 after purchasing an additional 106,692 shares during the last quarter. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Price Performance

Shares of CASY opened at $380.68 on Tuesday. Casey’s General Stores, Inc. has a twelve month low of $260.13 and a twelve month high of $401.07. The stock’s 50 day moving average is $374.20 and its two-hundred day moving average is $346.15. The firm has a market capitalization of $14.13 billion, a PE ratio of 28.35, a P/E/G ratio of 2.58 and a beta of 0.80. 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 (NASDAQ:CASY) last announced its quarterly earnings data on Wednesday, September 4th. The company reported $4.83 earnings per share for the quarter, beating analysts’ consensus estimates of $4.54 by $0.29. Casey’s General Stores had a return on equity of 17.07% and a net margin of 3.40%. The company had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same quarter in the previous year, the company earned $4.52 EPS. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. Research analysts anticipate that Casey’s General Stores, Inc. will post 14.15 earnings per share for the current year.

Casey’s General Stores Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date is Friday, November 1st. Casey’s General Stores’s dividend payout ratio is presently 14.89%.

Insider Activity

In other news, insider Thomas P. Brennan, Jr. sold 3,000 shares of Casey’s General Stores stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $380.24, for a total transaction of $1,140,720.00. Following the completion of the sale, the insider now directly owns 9,044 shares in the company, valued at approximately $3,438,890.56. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Thomas P. Brennan, Jr. sold 3,000 shares of Casey’s General Stores stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $380.24, for a total transaction of $1,140,720.00. Following the completion of the sale, the insider now directly owns 9,044 shares in the company, valued at approximately $3,438,890.56. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Darren M. Rebelez sold 13,500 shares of Casey’s General Stores stock in a transaction that occurred on 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 sale, the chief executive officer now owns 73,838 shares of the company’s stock, valued at $27,655,284.52. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

CASY has been the topic of several research reports. Wells Fargo & Company raised their price objective on Casey’s General Stores from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. StockNews.com lowered Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 3rd. Benchmark reissued a “buy” rating and set a $410.00 price target on shares of Casey’s General Stores in a report on Tuesday, September 10th. Jefferies Financial Group raised their price target on Casey’s General Stores from $342.00 to $445.00 and gave the stock a “buy” rating in a report on Wednesday, June 12th. Finally, JPMorgan Chase & Co. raised their price target on Casey’s General Stores from $298.00 to $300.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Casey’s General Stores presently has an average rating of “Moderate Buy” and a consensus price target of $401.20.

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.