Ieq Capital LLC Takes $4.36 Million Position in Casey’s General Stores, Inc. (NASDAQ:CASY)

Ieq Capital LLC purchased a new stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,420 shares of the company’s stock, valued at approximately $4,357,000.

Several other hedge funds have also added to or reduced their stakes in CASY. Rise Advisors LLC bought a new position in shares of Casey’s General Stores in the 1st quarter valued at about $30,000. Park Place Capital Corp bought a new position in Casey’s General Stores in the second quarter valued at approximately $31,000. Advisors Asset Management Inc. acquired a new stake in Casey’s General Stores during the 1st quarter worth $32,000. Innealta Capital LLC bought a new stake in shares of Casey’s General Stores during the 2nd quarter valued at $32,000. Finally, V Square Quantitative Management LLC acquired a new position in shares of Casey’s General Stores in the 4th quarter valued at $35,000. Institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Price Performance

Shares of NASDAQ CASY opened at $368.00 on Friday. The company has a fifty day moving average price of $374.46 and a 200 day moving average price of $346.94. Casey’s General Stores, Inc. has a 1-year low of $260.13 and a 1-year high of $401.07. The firm has a market cap of $13.66 billion, a PE ratio of 27.40, a PEG ratio of 2.58 and a beta of 0.80. 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 posted its quarterly earnings data on Wednesday, September 4th. The company reported $4.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.54 by $0.29. The business had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.15 billion. Casey’s General Stores had a return on equity of 17.07% and a net margin of 3.40%. Casey’s General Stores’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period last year, the company earned $4.52 earnings per share. Research analysts predict that Casey’s General Stores, Inc. will post 14.15 earnings per share for the current fiscal year.

Casey’s General Stores Announces Dividend

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 issued 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 0.54%. Casey’s General Stores’s dividend payout ratio (DPR) is presently 14.89%.

Insider Transactions at Casey’s General Stores

In other Casey’s General Stores news, Director Mike Spanos bought 267 shares of the firm’s 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 transaction, the director now owns 2,594 shares in the company, valued at $975,810.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Mike Spanos bought 267 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were acquired at an average price of $376.18 per share, for a total transaction of $100,440.06. Following the completion of the acquisition, the director now owns 2,594 shares of the company’s stock, valued at approximately $975,810.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 shares were sold at an average price of $380.24, for a total value of $1,140,720.00. Following the completion of the transaction, the insider now owns 9,044 shares of the company’s stock, valued at $3,438,890.56. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CASY shares. Wells Fargo & Company lifted their price objective on Casey’s General Stores from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. cut Casey’s General Stores from a “neutral” rating to an “underweight” rating and upped their price target for the company from $300.00 to $337.00 in a research note on Thursday. Northcoast Research upgraded shares of Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $410.00 price target on the stock in a research report on Thursday, July 11th. Jefferies Financial Group boosted their price objective on shares of Casey’s General Stores from $342.00 to $445.00 and gave the company a “buy” rating in a report on Wednesday, June 12th. Finally, Royal Bank of Canada increased their target price on shares of Casey’s General Stores from $393.00 to $403.00 and gave the stock a “sector perform” rating in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $404.90.

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.