Oak Ridge Investments LLC Reduces Stake in Casey’s General Stores, Inc. (NASDAQ:CASY)

Oak Ridge Investments LLC lowered its holdings in Casey’s General Stores, Inc. (NASDAQ:CASY) by 2.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,685 shares of the company’s stock after selling 39 shares during the quarter. Oak Ridge Investments LLC’s holdings in Casey’s General Stores were worth $633,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Susquehanna Fundamental Investments LLC purchased a new position in Casey’s General Stores during the 1st quarter worth approximately $794,000. Nordea Investment Management AB grew its stake in Casey’s General Stores by 2.0% during the 1st quarter. Nordea Investment Management AB now owns 21,919 shares of the company’s stock worth $6,976,000 after buying an additional 437 shares during the last quarter. Bailard Inc. purchased a new position in Casey’s General Stores during the 2nd quarter worth approximately $1,021,000. SG Americas Securities LLC purchased a new position in Casey’s General Stores during the 2nd quarter worth approximately $2,183,000. Finally, Cetera Investment Advisers grew its stake in Casey’s General Stores by 255.8% during the 1st quarter. Cetera Investment Advisers now owns 9,291 shares of the company’s stock worth $2,959,000 after buying an additional 6,680 shares during the last quarter. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Insider Activity

In other Casey’s General Stores news, Director Mike Spanos acquired 267 shares of the stock in a transaction dated 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 transaction, the director now directly owns 2,594 shares in the company, valued at approximately $975,810.92. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Thomas P. Brennan, Jr. sold 3,000 shares of Casey’s General Stores stock in a transaction on Friday, September 6th. The stock was sold at an average price of $380.24, for a total value of $1,140,720.00. Following the completion of the sale, the insider now owns 9,044 shares of the company’s stock, valued at $3,438,890.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mike Spanos purchased 267 shares of the stock in a transaction on Wednesday, September 18th. The shares were purchased at an average cost of $376.18 per share, with a total value of $100,440.06. Following the transaction, the director now owns 2,594 shares of the company’s stock, valued at $975,810.92. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.56% of the company’s stock.

Casey’s General Stores Stock Performance

NASDAQ CASY opened at $393.19 on Friday. Casey’s General Stores, Inc. has a fifty-two week low of $266.56 and a fifty-two week high of $401.17. The stock has a market cap of $14.60 billion, a price-to-earnings ratio of 28.62 and a beta of 0.80. The business has a fifty day moving average of $378.56 and a 200-day moving average of $362.82. The company has a quick ratio of 0.44, a current ratio of 0.84 and a debt-to-equity ratio of 0.44.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Wednesday, September 4th. The company reported $4.83 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $4.15 billion. During the same period in the previous year, the firm posted $4.52 earnings per share. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, analysts predict that Casey’s General Stores, Inc. will post 14.01 earnings per share for the current fiscal year.

Casey’s General Stores Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be issued a $0.50 dividend. The ex-dividend date is Friday, November 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.51%. Casey’s General Stores’s dividend payout ratio (DPR) is 14.56%.

Analysts Set New Price Targets

Several research analysts have weighed in on CASY shares. StockNews.com downgraded Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 3rd. Deutsche Bank Aktiengesellschaft lifted their target price on Casey’s General Stores from $420.00 to $444.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Royal Bank of Canada raised their price target on Casey’s General Stores from $393.00 to $403.00 and gave the company a “sector perform” rating in a report on Thursday, September 5th. Melius Research started coverage on Casey’s General Stores in a report on Monday, September 23rd. They issued a “buy” rating and a $435.00 price target for the company. Finally, Evercore ISI raised their price target on Casey’s General Stores from $435.00 to $440.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $408.09.

Casey’s General Stores 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.