Signaturefd LLC Lowers Position in Casey’s General Stores, Inc. (NASDAQ:CASY)

Signaturefd LLC cut its stake in Casey’s General Stores, Inc. (NASDAQ:CASY) by 24.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 333 shares of the company’s stock after selling 107 shares during the quarter. Signaturefd LLC’s holdings in Casey’s General Stores were worth $125,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CASY. Millennium Management LLC increased its position in shares of Casey’s General Stores by 3,846.1% during the second quarter. Millennium Management LLC now owns 172,320 shares of the company’s stock valued at $65,750,000 after acquiring an additional 176,920 shares during the last quarter. DAVENPORT & Co LLC grew its holdings in Casey’s General Stores by 11,242.6% during the first quarter. DAVENPORT & Co LLC now owns 107,641 shares of the company’s stock valued at $34,284,000 after purchasing an additional 106,692 shares during the period. Scout Investments Inc. grew its holdings in Casey’s General Stores by 138.2% during the first quarter. Scout Investments Inc. now owns 179,051 shares of the company’s stock valued at $56,467,000 after purchasing an additional 103,879 shares during the period. Bridges Investment Management Inc. grew its holdings in Casey’s General Stores by 110.0% during the second quarter. Bridges Investment Management Inc. now owns 177,190 shares of the company’s stock valued at $67,609,000 after purchasing an additional 92,813 shares during the period. Finally, American Century Companies Inc. grew its holdings in Casey’s General Stores by 189.1% during the second quarter. American Century Companies Inc. now owns 132,375 shares of the company’s stock valued at $50,509,000 after purchasing an additional 86,582 shares during the period. 85.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CASY. Wells Fargo & Company increased their price objective on Casey’s General Stores from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Royal Bank of Canada raised their price target on 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. Benchmark reaffirmed a “buy” rating and issued a $410.00 price target on shares of Casey’s General Stores in a report on Tuesday, September 10th. Melius Research initiated 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, JPMorgan Chase & Co. lowered Casey’s General Stores from a “neutral” rating to an “underweight” rating and raised their price target for the stock from $300.00 to $337.00 in a report on Thursday, September 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Casey’s General Stores presently has an average rating of “Moderate Buy” and a consensus price target of $408.09.

Casey’s General Stores Price Performance

NASDAQ:CASY opened at $400.61 on Tuesday. The stock has a fifty day moving average of $376.73 and a 200 day moving average of $361.16. Casey’s General Stores, Inc. has a 52-week low of $266.55 and a 52-week high of $401.17. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.44 and a current ratio of 0.84. The firm has a market capitalization of $14.87 billion, a price-to-earnings ratio of 29.83 and a beta of 0.80.

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, beating 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 business had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter last year, the business posted $4.52 earnings per share. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, research analysts expect that Casey’s General Stores, Inc. will post 14.01 EPS for the current fiscal year.

Casey’s General Stores Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $2.00 dividend on an annualized basis and a yield of 0.50%. Casey’s General Stores’s payout ratio is 14.89%.

Insider Buying and Selling at Casey’s General Stores

In other Casey’s General Stores news, insider Thomas P. Brennan, Jr. sold 3,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $3,438,890.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Thomas P. Brennan, Jr. sold 3,000 shares of Casey’s General Stores stock in a transaction dated 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 transaction, the insider now owns 9,044 shares in the company, valued at approximately $3,438,890.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mike Spanos acquired 267 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was bought at an average price of $376.18 per share, for a total transaction of $100,440.06. Following the acquisition, the director now owns 2,594 shares of the company’s stock, valued at approximately $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 0.47% of the company’s stock.

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.