Janney Montgomery Scott LLC Raises Stock Position in Casey’s General Stores, Inc. (NASDAQ:CASY)

Janney Montgomery Scott LLC boosted its position in Casey’s General Stores, Inc. (NASDAQ:CASY) by 24.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 7,210 shares of the company’s stock after purchasing an additional 1,395 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Casey’s General Stores were worth $2,709,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Invesco LLC raised its position in Casey’s General Stores by 2.6% during the third quarter. Invesco LLC now owns 2,500 shares of the company’s stock valued at $939,000 after purchasing an additional 64 shares in the last quarter. James Investment Research Inc. raised its holdings in shares of Casey’s General Stores by 5.6% during the 3rd quarter. James Investment Research Inc. now owns 7,929 shares of the company’s stock valued at $2,979,000 after buying an additional 419 shares in the last quarter. Goldstone Financial Group LLC purchased a new position in shares of Casey’s General Stores during the 3rd quarter valued at about $411,000. Financial Advocates Investment Management lifted its position in Casey’s General Stores by 2.4% in the 3rd quarter. Financial Advocates Investment Management now owns 1,799 shares of the company’s stock worth $676,000 after buying an additional 42 shares during the last quarter. Finally, WD Rutherford LLC boosted its stake in Casey’s General Stores by 1.3% in the third quarter. WD Rutherford LLC now owns 8,195 shares of the company’s stock worth $3,079,000 after buying an additional 105 shares in the last quarter. 85.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on CASY shares. Melius Research initiated coverage on shares of Casey’s General Stores in a research note on Monday, September 23rd. They set a “buy” rating and a $435.00 price target on the stock. 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 stock from $300.00 to $337.00 in a research report on Thursday, September 19th. Gordon Haskett assumed coverage on shares of Casey’s General Stores in a research report on Monday, November 4th. They set a “hold” rating and a $400.00 price target for the company. StockNews.com downgraded Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Casey’s General Stores from $451.00 to $454.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $408.25.

Insider Buying and Selling

In other news, insider Thomas P. Brennan, Jr. sold 3,000 shares of the firm’s 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 completion of the transaction, the insider now directly owns 9,044 shares in the company, valued at $3,438,890.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Mike Spanos bought 267 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was acquired at an average cost of $376.18 per share, with a total value of $100,440.06. Following the completion of the acquisition, the director now owns 2,594 shares of the company’s stock, valued at approximately $975,810.92. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas P. Brennan, Jr. sold 3,000 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $380.24, for a total transaction of $1,140,720.00. Following the sale, the insider now owns 9,044 shares in the company, valued at approximately $3,438,890.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by company insiders.

Casey’s General Stores Trading Down 0.5 %

NASDAQ CASY opened at $410.97 on Tuesday. The stock has a market cap of $15.26 billion, a P/E ratio of 29.91 and a beta of 0.79. Casey’s General Stores, Inc. has a fifty-two week low of $266.56 and a fifty-two week high of $420.27. The stock has a 50 day simple moving average of $383.05 and a two-hundred day simple moving average of $367.39. 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 released its quarterly earnings results on Wednesday, September 4th. The company reported $4.83 earnings per share for the quarter, beating the consensus estimate of $4.54 by $0.29. The business had revenue of $4.10 billion for 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 firm’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 business posted $4.52 earnings per share. On average, 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 business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be given a $0.50 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.49%. Casey’s General Stores’s dividend payout ratio is currently 14.56%.

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.