Meeder Asset Management Inc. Sells 9,015 Shares of Casey’s General Stores, Inc. (NASDAQ:CASY)

Meeder Asset Management Inc. trimmed its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 99.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 70 shares of the company’s stock after selling 9,015 shares during the quarter. Meeder Asset Management Inc.’s holdings in Casey’s General Stores were worth $26,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Park Place Capital Corp acquired a new position in shares of Casey’s General Stores in the 2nd quarter worth approximately $31,000. Advisors Asset Management Inc. acquired a new position in Casey’s General Stores in the first quarter worth $32,000. Innealta Capital LLC bought a new stake in shares of Casey’s General Stores during the second quarter worth $32,000. Bank & Trust Co acquired a new stake in shares of Casey’s General Stores in the second quarter valued at $40,000. Finally, Venturi Wealth Management LLC raised its holdings in shares of Casey’s General Stores by 941.7% in the third quarter. Venturi Wealth Management LLC now owns 125 shares of the company’s stock valued at $47,000 after buying an additional 113 shares during the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

Insider Activity

In other news, 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 transaction of $1,140,720.00. Following the sale, the insider now directly owns 9,044 shares of the company’s stock, valued at approximately $3,438,890.56. This represents a 24.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Darren M. Rebelez sold 13,500 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $27,655,284.52. This represents 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 insiders.

Casey’s General Stores Stock Up 0.5 %

Shares of NASDAQ:CASY opened at $416.11 on Friday. Casey’s General Stores, Inc. has a 52 week low of $266.56 and a 52 week high of $420.27. The company has a market capitalization of $15.45 billion, a PE ratio of 30.28 and a beta of 0.79. 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 company has a 50 day moving average price of $389.42 and a two-hundred day moving average price of $371.78.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Wednesday, September 4th. The company reported $4.83 EPS for the quarter, topping analysts’ consensus estimates of $4.54 by $0.29. The business had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.15 billion. Casey’s General Stores had a net margin of 3.40% and a return on equity of 17.07%. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period last year, the business posted $4.52 earnings per share. Analysts forecast that Casey’s General Stores, Inc. will post 14.24 earnings per share for the current year.

Casey’s General Stores Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Friday, November 1st. Casey’s General Stores’s dividend payout ratio (DPR) is presently 14.56%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CASY shares. Melius Research initiated coverage on shares of Casey’s General Stores in a report on Monday, September 23rd. They set a “buy” rating and a $435.00 price objective on the stock. Benchmark restated a “buy” rating and issued a $410.00 price objective on shares of Casey’s General Stores in a research report on Tuesday, September 10th. Wells Fargo & Company upped their price objective on Casey’s General Stores from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Gordon Haskett assumed coverage on Casey’s General Stores in a research report on Monday, November 4th. They set a “hold” rating and a $400.00 target price for the company. Finally, Royal Bank of Canada upped their price target 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 research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Casey’s General Stores currently has a consensus rating of “Moderate Buy” and an average price target 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.