Casey’s General Stores, Inc. (NASDAQ:CASY) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lowered its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 19.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,763 shares of the company’s stock after selling 6,359 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Casey’s General Stores were worth $9,679,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Tidal Investments LLC acquired a new position in shares of Casey’s General Stores in the 1st quarter valued at $214,000. Cetera Investment Advisers increased its holdings in Casey’s General Stores by 255.8% during the 1st quarter. Cetera Investment Advisers now owns 9,291 shares of the company’s stock worth $2,959,000 after purchasing an additional 6,680 shares during the last quarter. Cetera Advisors LLC raised its position in shares of Casey’s General Stores by 130.0% in the 1st quarter. Cetera Advisors LLC now owns 5,830 shares of the company’s stock valued at $1,857,000 after purchasing an additional 3,295 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Casey’s General Stores by 95.8% during the second quarter. GAMMA Investing LLC now owns 691 shares of the company’s stock worth $264,000 after buying an additional 338 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its stake in shares of Casey’s General Stores by 202.5% in the second quarter. Harbor Capital Advisors Inc. now owns 2,447 shares of the company’s stock worth $934,000 after buying an additional 1,638 shares during the last quarter. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Casey’s General Stores

In related news, Director Mike Spanos bought 267 shares of the stock in a transaction on Wednesday, September 18th. The shares were purchased at an average price of $376.18 per share, with a total value of $100,440.06. Following the purchase, the director now owns 2,594 shares in the company, valued at approximately $975,810.92. This represents a 11.47 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Darren M. Rebelez sold 13,500 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was 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 directly 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.

Analyst Ratings Changes

Several brokerages have weighed in on CASY. Royal Bank of Canada raised 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 report on Thursday, September 5th. Melius Research assumed coverage on Casey’s General Stores in a report on Monday, September 23rd. They issued a “buy” rating and a $435.00 price objective for the company. Wells Fargo & Company lifted their target price on Casey’s General Stores from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Evercore ISI upped their price target on Casey’s General Stores from $435.00 to $440.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Benchmark restated a “buy” rating and set a $410.00 price objective on shares of Casey’s General Stores in a research note on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $408.25.

Casey’s General Stores Stock Down 0.8 %

CASY stock opened at $417.52 on Wednesday. The company has a quick ratio of 0.44, a current ratio of 0.84 and a debt-to-equity ratio of 0.44. The firm’s 50-day simple moving average is $396.28 and its 200 day simple moving average is $376.76. The stock has a market cap of $15.50 billion, a PE ratio of 30.39 and a beta of 0.80. Casey’s General Stores, Inc. has a fifty-two week low of $266.56 and a fifty-two week high of $435.60.

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 analysts’ consensus estimates of $4.54 by $0.29. Casey’s General Stores had a return on equity of 17.07% and a net margin of 3.40%. The company had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter in the previous year, the company posted $4.52 earnings per share. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, sell-side analysts predict that Casey’s General Stores, Inc. will post 14.22 EPS for the current year.

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.