Mercer Global Advisors Inc. ADV Acquires 43,406 Shares of Casey’s General Stores, Inc. (NASDAQ:CASY)

Mercer Global Advisors Inc. ADV grew its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 1,754.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,880 shares of the company’s stock after purchasing an additional 43,406 shares during the quarter. Mercer Global Advisors Inc. ADV owned approximately 0.12% of Casey’s General Stores worth $17,506,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Jump Financial LLC purchased a new stake in Casey’s General Stores in the 4th quarter valued at about $302,000. Envestnet Portfolio Solutions Inc. grew its stake in Casey’s General Stores by 11.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,609 shares of the company’s stock worth $442,000 after purchasing an additional 171 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in Casey’s General Stores by 21.7% during the 4th quarter. Quadrant Capital Group LLC now owns 599 shares of the company’s stock worth $165,000 after purchasing an additional 107 shares during the period. TrinityPoint Wealth LLC raised its position in Casey’s General Stores by 2.3% during the 4th quarter. TrinityPoint Wealth LLC now owns 2,807 shares of the company’s stock valued at $771,000 after purchasing an additional 63 shares in the last quarter. Finally, Norges Bank bought a new stake in Casey’s General Stores during the 4th quarter valued at $115,799,000. 85.63% of the stock is currently owned by institutional investors.

Casey’s General Stores Stock Down 0.6 %

Shares of CASY stock opened at $373.02 on Thursday. The stock’s fifty day moving average price is $374.49 and its 200 day moving average price is $346.63. Casey’s General Stores, Inc. has a 1-year low of $260.13 and a 1-year high of $401.07. The company has a market cap of $13.84 billion, a price-to-earnings ratio of 27.78, a price-to-earnings-growth ratio of 2.58 and a beta of 0.80. 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 issued its quarterly earnings results on Wednesday, September 4th. The company reported $4.83 earnings per share 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 return on equity of 17.07% and a net margin of 3.40%. The company’s revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.52 earnings per share. On average, research analysts expect that Casey’s General Stores, Inc. will post 14.15 earnings per share for the current fiscal year.

Casey’s General Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $2.00 annualized dividend and a dividend yield of 0.54%. Casey’s General Stores’s payout ratio is currently 14.89%.

Insider Activity

In other 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 completion of the transaction, the insider now directly owns 9,044 shares in the company, valued at $3,438,890.56. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Casey’s General Stores 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 transaction of $1,140,720.00. Following the completion of the transaction, the insider now owns 9,044 shares in the company, valued at approximately $3,438,890.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Darren M. Rebelez sold 13,500 shares of Casey’s General Stores stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $374.54, for a total value of $5,056,290.00. Following the transaction, the chief executive officer now owns 73,838 shares of the company’s stock, valued at $27,655,284.52. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CASY shares. Benchmark reissued a “buy” rating and set a $410.00 price target on shares of Casey’s General Stores in a research report on Tuesday, September 10th. BMO Capital Markets raised their target price on shares of Casey’s General Stores from $305.00 to $400.00 and gave the company a “market perform” rating in a research report on Thursday, June 13th. JPMorgan Chase & Co. boosted their price target on shares of Casey’s General Stores from $298.00 to $300.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Wells Fargo & Company increased their price objective on shares of 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 price objective on shares of Casey’s General Stores from $393.00 to $403.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 5th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $401.20.

Casey’s General Stores Company 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.