Rhumbline Advisers Raises Stake in Casey’s General Stores, Inc. (NASDAQ:CASY)

Rhumbline Advisers raised its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 1.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 113,129 shares of the company’s stock after purchasing an additional 1,964 shares during the period. Rhumbline Advisers owned 0.30% of Casey’s General Stores worth $44,825,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Private Trust Co. NA grew its stake in shares of Casey’s General Stores by 1.3% during the 3rd quarter. Private Trust Co. NA now owns 2,072 shares of the company’s stock valued at $778,000 after purchasing an additional 27 shares during the period. V Square Quantitative Management LLC raised its stake 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 in the last quarter. MassMutual Private Wealth & Trust FSB increased 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 worth $59,000 after acquiring an additional 29 shares during the last quarter. Verus Capital Partners LLC lifted its holdings in shares of Casey’s General Stores by 3.1% in the 3rd quarter. Verus Capital Partners LLC now owns 991 shares of the company’s stock worth $372,000 after acquiring an additional 30 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in Casey’s General Stores by 3.3% during the 3rd quarter. CIBC Asset Management Inc now owns 1,078 shares of the company’s stock valued at $405,000 after buying an additional 34 shares in the last quarter. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Casey’s General Stores Stock Performance

Shares of NASDAQ CASY opened at $432.17 on Tuesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.49 and a current ratio of 0.88. Casey’s General Stores, Inc. has a 52 week low of $284.57 and a 52 week high of $445.17. The business’s 50-day simple moving average is $410.47 and its 200-day simple moving average is $395.69. The firm has a market cap of $16.04 billion, a price-to-earnings ratio of 30.12, a P/E/G ratio of 2.48 and a beta of 0.83.

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. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. The business had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter last year, the company earned $4.24 EPS. Casey’s General Stores’s revenue was down 2.9% on a year-over-year basis. As a group, 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 company also recently announced a quarterly dividend, which was paid on Monday, February 17th. Shareholders of record on Monday, February 3rd were issued a $0.50 dividend. The ex-dividend date was Monday, February 3rd. This represents a $2.00 annualized dividend and a yield of 0.46%. Casey’s General Stores’s dividend payout ratio (DPR) is presently 13.94%.

Insider Activity

In other 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 transaction of $192,208.50. Following the completion of the sale, the insider now owns 2,247 shares in the company, valued at $959,761.11. The trade was a 16.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Mike Spanos bought 500 shares of Casey’s General Stores stock in a transaction dated Monday, December 23rd. The shares were bought at an average cost of $396.76 per share, for a total transaction of $198,380.00. Following the completion of the acquisition, the director now owns 3,097 shares in the company, valued at $1,228,765.72. This represents a 19.25 % increase in their position. The disclosure for this purchase can be found here. 0.56% of the stock is owned by company insiders.

Analyst Ratings Changes

CASY has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their price objective on Casey’s General Stores from $403.00 to $428.00 and gave the company a “sector perform” rating in a report on Tuesday, December 10th. BMO Capital Markets reaffirmed a “market perform” rating and set a $450.00 target price (up previously from $400.00) on shares of Casey’s General Stores in a research note on Wednesday, December 18th. Gordon Haskett raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Evercore ISI increased their price target on Casey’s General Stores from $460.00 to $470.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Finally, StockNews.com upgraded shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Casey’s General Stores presently has an average rating of “Moderate Buy” and a consensus price target of $424.00.

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.