Dillon & Associates Inc. Makes New Investment in Casey’s General Stores, Inc. (NASDAQ:CASY)

Dillon & Associates Inc. bought a new stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) in the third quarter, Holdings Channel.com reports. The fund bought 1,533 shares of the company’s stock, valued at approximately $576,000.

A number of other hedge funds have also recently made changes to their positions in CASY. Park Place Capital Corp purchased a new position in Casey’s General Stores during the 2nd quarter valued at about $31,000. Advisors Asset Management Inc. acquired a new position in Casey’s General Stores during the 1st quarter valued at about $32,000. Innealta Capital LLC purchased a new stake in Casey’s General Stores in the second quarter valued at about $32,000. Bank & Trust Co acquired a new stake in Casey’s General Stores in the second quarter worth about $40,000. Finally, Venturi Wealth Management LLC grew its stake in shares of Casey’s General Stores by 941.7% during the third quarter. Venturi Wealth Management LLC now owns 125 shares of the company’s stock worth $47,000 after acquiring an additional 113 shares during the last quarter. 85.63% of the stock is currently owned by institutional investors.

Casey’s General Stores Trading Up 1.5 %

Casey’s General Stores stock opened at $417.06 on Wednesday. The firm has a market cap of $15.48 billion, a PE ratio of 30.35 and a beta of 0.79. Casey’s General Stores, Inc. has a 12 month low of $266.56 and a 12 month high of $420.27. The stock’s 50 day simple moving average is $384.29 and its two-hundred day simple moving average is $368.07. 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 released its quarterly earnings results on Wednesday, September 4th. The company reported $4.83 EPS for the quarter, beating the consensus estimate of $4.54 by $0.29. The company had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.15 billion. Casey’s General Stores had a net margin of 3.40% and a return on equity of 17.07%. The firm’s revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the business earned $4.52 earnings per share. Analysts anticipate that Casey’s General Stores, Inc. will post 14.24 earnings per share for the current year.

Casey’s General Stores Dividend Announcement

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 annualized dividend and a yield of 0.48%. The ex-dividend date is Friday, November 1st. Casey’s General Stores’s payout ratio is currently 14.56%.

Insider Activity

In other news, CEO Darren M. Rebelez sold 13,500 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $374.54, for a total transaction of $5,056,290.00. Following the transaction, the chief executive officer now owns 73,838 shares in the company, valued at $27,655,284.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Darren M. Rebelez sold 13,500 shares of Casey’s General Stores stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $374.54, for a total value of $5,056,290.00. Following the sale, the chief executive officer now directly owns 73,838 shares in the company, valued at approximately $27,655,284.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mike Spanos bought 267 shares of Casey’s General Stores 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 acquisition, the director now directly owns 2,594 shares of the company’s stock, valued at approximately $975,810.92. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. StockNews.com cut shares of Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 3rd. Royal Bank of Canada boosted their price objective on shares of 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. Wells Fargo & Company upped their target price on Casey’s General Stores from $415.00 to $425.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Gordon Haskett assumed 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 for the company. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Casey’s General Stores from $451.00 to $454.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $408.25.

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.