Algert Global LLC Acquires 2,662 Shares of Casey’s General Stores, Inc. (NASDAQ:CASY)

Algert Global LLC boosted its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 32.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,868 shares of the company’s stock after purchasing an additional 2,662 shares during the period. Algert Global LLC’s holdings in Casey’s General Stores were worth $4,147,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CASY. Rise Advisors LLC bought a new position in Casey’s General Stores during the first quarter worth about $30,000. Park Place Capital Corp bought a new position in Casey’s General Stores during the second quarter worth about $31,000. Advisors Asset Management Inc. bought a new position in Casey’s General Stores during the first quarter worth about $32,000. Innealta Capital LLC bought a new position in shares of Casey’s General Stores in the second quarter valued at approximately $32,000. Finally, V Square Quantitative Management LLC bought a new position in shares of Casey’s General Stores in the fourth quarter valued at approximately $35,000. Institutional investors own 85.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CASY shares. JPMorgan Chase & Co. cut shares of Casey’s General Stores from a “neutral” rating to an “underweight” rating and lifted their target price for the company from $300.00 to $337.00 in a research note on Thursday, September 19th. BMO Capital Markets lifted 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 note on Thursday, June 13th. Benchmark reiterated a “buy” rating and issued a $410.00 target price on shares of Casey’s General Stores in a research note on Tuesday, September 10th. Royal Bank of Canada lifted their target price on shares of 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. Finally, Northcoast Research raised shares of Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $410.00 price target for the company in a report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $407.64.

Casey’s General Stores Stock Performance

Shares of Casey’s General Stores stock opened at $375.71 on Tuesday. The firm has a fifty day moving average of $373.70 and a two-hundred day moving average of $351.20. The stock has a market capitalization of $13.94 billion, a price-to-earnings ratio of 27.98 and a beta of 0.80. Casey’s General Stores, Inc. has a 52 week low of $260.13 and a 52 week high of $401.07. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.44 and a current ratio of 0.84.

Casey’s General Stores (NASDAQ:CASY) last issued its earnings results on Wednesday, September 4th. The company reported $4.83 EPS for the quarter, beating the consensus estimate of $4.54 by $0.29. The company had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Casey’s General Stores had a net margin of 3.40% and a return on equity of 17.07%. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.52 EPS. As a group, equities research analysts predict that Casey’s General Stores, Inc. will post 14.01 EPS for the current year.

Casey’s General Stores Dividend Announcement

The firm also recently announced 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. This represents a $2.00 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend is Friday, November 1st. Casey’s General Stores’s payout ratio is 14.89%.

Insider Activity at Casey’s General Stores

In related news, CEO Darren M. Rebelez sold 13,500 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 73,838 shares in the company, valued at approximately $27,655,284.52. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Mike Spanos acquired 267 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was acquired at an average price of $376.18 per share, for a total transaction of $100,440.06. Following the transaction, the director now directly owns 2,594 shares in the company, valued at $975,810.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Darren M. Rebelez sold 13,500 shares of the company’s stock in a transaction 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 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 disclosure for this sale can be found here. 0.47% of the stock is owned by corporate insiders.

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.