SpiderRock Advisors LLC cut its stake in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 27.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,294 shares of the company's stock after selling 1,243 shares during the quarter. SpiderRock Advisors LLC's holdings in Casey's General Stores were worth $1,238,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Janus Henderson Group PLC grew its stake in Casey's General Stores by 1.4% in the first quarter. Janus Henderson Group PLC now owns 768,060 shares of the company's stock valued at $244,592,000 after acquiring an additional 10,841 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Casey's General Stores by 3.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 468,650 shares of the company's stock valued at $178,822,000 after purchasing an additional 14,750 shares during the period. Envestnet Asset Management Inc. increased its stake in Casey's General Stores by 20.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 458,044 shares of the company's stock worth $174,771,000 after purchasing an additional 77,515 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Casey's General Stores during the 3rd quarter worth approximately $959,880,000. Finally, TD Asset Management Inc lifted its stake in Casey's General Stores by 2.5% in the first quarter. TD Asset Management Inc now owns 220,257 shares of the company's stock valued at $70,141,000 after buying an additional 5,296 shares in the last quarter. 85.63% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently commented on the stock. Benchmark restated a "buy" rating and set a $410.00 price objective on shares of Casey's General Stores in a report on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft lifted their price target on Casey's General Stores from $451.00 to $454.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. cut Casey's General Stores from a "neutral" rating to an "underweight" rating and upped their price objective for the stock from $300.00 to $337.00 in a research report on Thursday, September 19th. Wells Fargo & Company increased 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. Finally, Melius Research began coverage on Casey's General Stores in a research note on Monday, September 23rd. They issued a "buy" rating and a $435.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, Casey's General Stores currently has an average rating of "Moderate Buy" and a consensus target price of $408.25.
Check Out Our Latest Stock Report on Casey's General Stores
In related news, CEO Darren M. Rebelez sold 13,500 shares of the stock in a transaction on 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 owns 73,838 shares in the company, valued at approximately $27,655,284.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Darren M. Rebelez sold 13,500 shares of the company's stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $374.54, for a total value of $5,056,290.00. Following the transaction, the chief executive officer now owns 73,838 shares in the company, valued at approximately $27,655,284.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas P. Brennan, Jr. sold 3,000 shares of the firm's stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $380.24, for a total transaction of $1,140,720.00. Following the sale, the insider now owns 9,044 shares of the company's stock, valued at $3,438,890.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by corporate insiders.
Shares of CASY opened at $412.85 on Monday. The company has a market cap of $15.32 billion, a price-to-earnings ratio of 30.05 and a beta of 0.79. The company has a current ratio of 0.84, a quick ratio of 0.44 and a debt-to-equity ratio of 0.44. The company's fifty day simple moving average is $382.08 and its 200 day simple moving average is $366.73. Casey's General Stores, Inc. has a 1-year low of $266.56 and a 1-year high of $420.27.
Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its earnings results on Wednesday, September 4th. The company reported $4.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.54 by $0.29. Casey's General Stores had a net margin of 3.40% and a return on equity of 17.07%. The company had revenue of $4.10 billion for the quarter, compared to analysts' expectations of $4.15 billion. During the same period in the prior year, the firm earned $4.52 EPS. Casey's General Stores's quarterly revenue was up 5.9% compared to the same quarter last year. On average, research analysts forecast that Casey's General Stores, Inc. will post 14.24 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be given a $0.50 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.48%. Casey's General Stores's payout ratio is 14.56%.
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.
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