Intech Investment Management LLC Makes New $1.66 Million Investment in Casey’s General Stores, Inc. (NASDAQ:CASY)

Intech Investment Management LLC purchased a new stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 4,343 shares of the company’s stock, valued at approximately $1,657,000.

Other hedge funds have also recently made changes to their positions in the company. AdvisorNet Financial Inc grew its holdings in shares of Casey’s General Stores by 10.1% during the second quarter. AdvisorNet Financial Inc now owns 317 shares of the company’s stock worth $121,000 after purchasing an additional 29 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of Casey’s General Stores by 0.3% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 12,769 shares of the company’s stock worth $4,872,000 after buying an additional 37 shares during the last quarter. AdvisorShares Investments LLC increased its holdings in shares of Casey’s General Stores by 9.3% in the 4th quarter. AdvisorShares Investments LLC now owns 469 shares of the company’s stock worth $129,000 after buying an additional 40 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Casey’s General Stores by 12.8% during the 1st quarter. GAMMA Investing LLC now owns 353 shares of the company’s stock valued at $112,000 after buying an additional 40 shares in the last quarter. Finally, Arbor Capital Management Inc. ADV lifted its holdings in shares of Casey’s General Stores by 0.9% during the 4th quarter. Arbor Capital Management Inc. ADV now owns 4,567 shares of the company’s stock worth $1,261,000 after acquiring an additional 42 shares during the last quarter. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Darren M. Rebelez sold 13,500 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were 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. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Darren M. Rebelez sold 13,500 shares of Casey’s General Stores 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 sale, the chief executive officer now directly owns 73,838 shares in the company, valued at $27,655,284.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mike Spanos purchased 267 shares of Casey’s General Stores stock in a transaction that occurred on Wednesday, September 18th. The stock was purchased at an average cost of $376.18 per share, for a total transaction of $100,440.06. Following the completion of the purchase, the director now owns 2,594 shares of the company’s stock, valued at $975,810.92. The disclosure for this purchase can be found here. Company insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on CASY. StockNews.com downgraded Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 3rd. Jefferies Financial Group upped their target price on Casey’s General Stores from $342.00 to $445.00 and gave the stock a “buy” rating in a research note on Wednesday, June 12th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Casey’s General Stores from $420.00 to $444.00 and gave the company a “buy” rating in a research report on Monday, July 29th. BMO Capital Markets boosted their price objective on shares of Casey’s General Stores from $305.00 to $400.00 and gave the stock a “market perform” rating in a report on Thursday, June 13th. Finally, Melius Research initiated coverage on shares of Casey’s General Stores in a report on Monday. They set a “buy” rating and a $435.00 target price on the stock. 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 stock. Based on data from MarketBeat.com, Casey’s General Stores currently has a consensus rating of “Moderate Buy” and a consensus target price of $407.64.

Casey’s General Stores Stock Performance

Shares of NASDAQ:CASY opened at $377.94 on Tuesday. 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 has a 50-day moving average price of $374.26 and a 200-day moving average price of $348.54. The company has a market cap of $14.03 billion, a price-to-earnings ratio of 28.14, a price-to-earnings-growth ratio of 2.58 and a beta of 0.80. Casey’s General Stores, Inc. has a 12 month low of $260.13 and a 12 month high of $401.07.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings data on Wednesday, September 4th. The company reported $4.83 earnings per share for the quarter, topping the consensus estimate of $4.54 by $0.29. The business had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Casey’s General Stores had a return on equity of 17.07% and a net margin of 3.40%. The business’s revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the business posted $4.52 EPS. As a group, equities analysts anticipate that Casey’s General Stores, Inc. will post 14.15 EPS for the current year.

Casey’s General Stores Announces Dividend

The business 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. The ex-dividend date of this dividend is Friday, November 1st. This represents a $2.00 annualized dividend and a yield of 0.53%. Casey’s General Stores’s dividend payout ratio (DPR) is presently 14.89%.

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.