Fifth Third Wealth Advisors LLC Purchases 281 Shares of Casey’s General Stores, Inc. (NASDAQ:CASY)

Fifth Third Wealth Advisors LLC increased its position in Casey’s General Stores, Inc. (NASDAQ:CASY) by 16.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,039 shares of the company’s stock after buying an additional 281 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Casey’s General Stores were worth $766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC bought a new stake in Casey’s General Stores in the third quarter valued at approximately $959,880,000. Millennium Management LLC lifted its position in Casey’s General Stores by 3,846.1% in the second quarter. Millennium Management LLC now owns 172,320 shares of the company’s stock valued at $65,750,000 after purchasing an additional 176,920 shares during the last quarter. Bridges Investment Management Inc. lifted its position in Casey’s General Stores by 110.0% in 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 last quarter. American Century Companies Inc. lifted its position in Casey’s General Stores by 189.1% in 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 last quarter. Finally, abrdn plc bought a new stake in Casey’s General Stores in the third quarter valued at approximately $30,538,000. Institutional investors own 85.63% of the company’s stock.

Wall Street Analysts Forecast Growth

CASY has been the subject of several recent research reports. Melius Research initiated coverage on Casey’s General Stores in a research report on Monday, September 23rd. They issued a “buy” rating and a $435.00 price objective for the company. StockNews.com downgraded Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 3rd. Benchmark reissued a “buy” rating and set a $410.00 target price on shares of Casey’s General Stores in a research note on Tuesday, September 10th. Wells Fargo & Company boosted their target price on Casey’s General Stores from $415.00 to $425.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Finally, Royal Bank of Canada boosted their target price on Casey’s General Stores from $393.00 to $403.00 and gave the company a “sector perform” rating in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $408.25.

Casey’s General Stores Price Performance

Shares of CASY stock opened at $413.95 on Thursday. The stock has a market cap of $15.36 billion, a price-to-earnings ratio of 30.13 and a beta of 0.79. The business’s fifty day moving average is $388.74 and its 200 day moving average is $371.47. Casey’s General Stores, Inc. has a twelve month low of $266.56 and a twelve month high of $420.27. The company has a quick ratio of 0.44, a current ratio of 0.84 and a debt-to-equity ratio of 0.44.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results 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 company had revenue of $4.10 billion for 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 firm’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the prior year, the firm earned $4.52 earnings per share. Research analysts expect that Casey’s General Stores, Inc. will post 14.24 EPS for the current fiscal year.

Casey’s General Stores Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were paid a $0.50 dividend. The ex-dividend date of this dividend was 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 dividend payout ratio is currently 14.56%.

Insider Transactions at Casey’s General Stores

In related news, Director Mike Spanos bought 267 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were purchased at an average cost of $376.18 per share, with a total value of $100,440.06. Following the completion of the purchase, the director now owns 2,594 shares in the company, valued at approximately $975,810.92. The trade was a 11.47 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Thomas P. Brennan, Jr. sold 3,000 shares of the stock in a transaction on 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 completion of the sale, the insider now directly owns 9,044 shares in the company, valued at approximately $3,438,890.56. This represents a 24.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.56% 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.