Sunbelt Securities Inc. Acquires 111 Shares of Casey’s General Stores, Inc. (NASDAQ:CASY)

Sunbelt Securities Inc. increased its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 6.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,960 shares of the company’s stock after acquiring an additional 111 shares during the quarter. Sunbelt Securities Inc.’s holdings in Casey’s General Stores were worth $736,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC increased its holdings in shares of Casey’s General Stores by 3.8% during the third quarter. FMR LLC now owns 1,046,830 shares of the company’s stock worth $393,305,000 after purchasing an additional 38,226 shares during the period. Geode Capital Management LLC grew its position in Casey’s General Stores by 1.3% during the third quarter. Geode Capital Management LLC now owns 655,488 shares of the company’s stock worth $246,335,000 after buying an additional 8,428 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Casey’s General Stores by 3.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 468,650 shares of the company’s stock worth $178,822,000 after acquiring an additional 14,750 shares during the period. Envestnet Asset Management Inc. raised its holdings in Casey’s General Stores by 20.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 458,044 shares of the company’s stock valued at $174,771,000 after acquiring an additional 77,515 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Casey’s General Stores by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 273,332 shares of the company’s stock valued at $102,694,000 after acquiring an additional 702 shares during the period. Institutional investors and hedge funds own 85.63% of the company’s stock.

Casey’s General Stores Stock Performance

NASDAQ:CASY opened at $425.70 on Friday. The stock’s 50-day moving average is $403.94 and its 200-day moving average is $380.83. The stock has a market cap of $15.80 billion, a P/E ratio of 30.98 and a beta of 0.80. Casey’s General Stores, Inc. has a 1-year low of $266.58 and a 1-year high of $439.68. 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 results on Monday, December 9th. The company reported $4.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.29 by $0.56. Casey’s General Stores had a net margin of 3.40% and a return on equity of 17.07%. The firm had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same period in the prior year, the company posted $4.24 EPS. The company’s revenue was down 2.9% on a year-over-year basis. Equities research analysts anticipate that Casey’s General Stores, Inc. will post 14.22 earnings per share for the current 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. This represents a $2.00 annualized dividend and a yield of 0.47%. The ex-dividend date is Monday, February 3rd. Casey’s General Stores’s payout ratio is presently 14.56%.

Insider Buying and Selling at Casey’s General Stores

In other news, Director Mike Spanos bought 267 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was acquired at an average price 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 of the company’s stock, valued at approximately $975,810.92. This represents a 11.47 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

CASY has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price target on Casey’s General Stores from $415.00 to $425.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Evercore ISI upped their price target on shares of Casey’s General Stores from $435.00 to $440.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. StockNews.com cut shares of Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research note on Friday. Gordon Haskett initiated coverage on 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. Finally, Benchmark reiterated a “buy” rating and issued a $410.00 price target on shares of Casey’s General Stores in a research note on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $410.33.

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.