Entropy Technologies LP Invests $251,000 in Casey’s General Stores, Inc. (NASDAQ:CASY)

Entropy Technologies LP bought a new position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) during the third quarter, Holdings Channel.com reports. The fund bought 668 shares of the company’s stock, valued at approximately $251,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Park Place Capital Corp bought a new position in shares of Casey’s General Stores during the 2nd quarter worth about $31,000. Advisors Asset Management Inc. bought a new position in Casey’s General Stores during the first quarter valued at about $32,000. Innealta Capital LLC acquired a new position in Casey’s General Stores in the 2nd quarter valued at approximately $32,000. Bank & Trust Co bought a new stake in shares of Casey’s General Stores in the 2nd quarter worth approximately $40,000. Finally, Venturi Wealth Management LLC grew its holdings in shares of Casey’s General Stores by 941.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 125 shares of the company’s stock worth $47,000 after purchasing an additional 113 shares in the last quarter. 85.63% of the stock is owned by institutional investors.

Insider Transactions at Casey’s General Stores

In related 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 value of $1,140,720.00. Following the transaction, the insider now owns 9,044 shares in the company, valued at $3,438,890.56. This trade represents a 24.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 completion of the sale, the chief executive officer now owns 73,838 shares of the company’s stock, valued at approximately $27,655,284.52. The trade was a 15.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.56% of the stock is owned by company insiders.

Casey’s General Stores Stock Down 1.1 %

NASDAQ CASY opened at $401.40 on Friday. The stock’s 50 day simple moving average is $386.44 and its 200 day simple moving average is $369.51. Casey’s General Stores, Inc. has a one year low of $266.56 and a one year high of $420.27. The firm has a market cap of $14.90 billion, a PE ratio of 29.21 and a beta of 0.79. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.84 and a quick ratio of 0.44.

Casey’s General Stores (NASDAQ:CASY) last announced its 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. The company had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.15 billion. Casey’s General Stores had a return on equity of 17.07% and a net margin of 3.40%. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period last year, the company posted $4.52 earnings per share. As a group, sell-side analysts forecast that Casey’s General Stores, Inc. will post 14.24 earnings per share for the current fiscal year.

Casey’s General Stores Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Friday, November 1st. Casey’s General Stores’s dividend payout ratio is presently 14.56%.

Analyst Ratings Changes

Several research analysts recently commented on CASY shares. Royal Bank of Canada raised their target price on Casey’s General Stores from $393.00 to $403.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 5th. StockNews.com downgraded shares of Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 3rd. Evercore ISI upped their target price on shares of Casey’s General Stores from $435.00 to $440.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Gordon Haskett started coverage on shares of Casey’s General Stores in a research note on Monday, November 4th. They set a “hold” rating and a $400.00 price target for the company. Finally, Benchmark reaffirmed a “buy” rating and set a $410.00 price objective on shares of Casey’s General Stores in a report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $408.25.

About Casey’s General Stores

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.