Moors & Cabot Inc. Raises Stock Position in Casey’s General Stores, Inc. (NASDAQ:CASY)

Moors & Cabot Inc. raised its stake in Casey’s General Stores, Inc. (NASDAQ:CASY) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,389 shares of the company’s stock after buying an additional 107 shares during the period. Moors & Cabot Inc.’s holdings in Casey’s General Stores were worth $4,116,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in CASY. Raymond James Financial Inc. purchased a new position in Casey’s General Stores in the fourth quarter valued at about $236,500,000. Franklin Resources Inc. increased its holdings in Casey’s General Stores by 49.9% in the third quarter. Franklin Resources Inc. now owns 524,237 shares of the company’s stock valued at $204,861,000 after buying an additional 174,586 shares in the last quarter. Benjamin Edwards Inc. increased its stake in shares of Casey’s General Stores by 1,819.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 130,291 shares of the company’s stock worth $48,959,000 after purchasing an additional 123,502 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Casey’s General Stores by 281.4% during the 3rd quarter. Wellington Management Group LLP now owns 164,656 shares of the company’s stock worth $61,863,000 after purchasing an additional 121,488 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Casey’s General Stores by 18.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 758,804 shares of the company’s stock worth $285,090,000 after purchasing an additional 119,350 shares in the last quarter. 85.63% of the stock is owned by hedge funds and other institutional investors.

Casey’s General Stores Stock Down 0.8 %

Shares of CASY opened at $378.71 on Wednesday. The firm has a market cap of $14.06 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 2.40 and a beta of 0.87. The company’s fifty day moving average is $409.64 and its two-hundred day moving average is $399.61. Casey’s General Stores, Inc. has a fifty-two week low of $290.00 and a fifty-two week high of $445.17. The company has a quick ratio of 0.49, a current ratio of 0.88 and a debt-to-equity ratio of 0.74.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings results on Tuesday, March 11th. The company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.57. The company had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.74 billion. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. Casey’s General Stores’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same quarter last year, the business earned $2.33 EPS. Analysts forecast that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on CASY shares. Royal Bank of Canada raised their price objective on shares of Casey’s General Stores from $403.00 to $428.00 and gave the stock a “sector perform” rating in a research note on Tuesday, December 10th. StockNews.com cut shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a research note on Saturday. Gordon Haskett raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. BMO Capital Markets reissued a “market perform” rating and set a $450.00 price objective (up from $400.00) on shares of Casey’s General Stores in a research note on Wednesday, December 18th. Finally, Evercore ISI dropped their price objective on shares of Casey’s General Stores from $460.00 to $450.00 and set an “outperform” rating for the company in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $422.18.

Insider Buying and Selling at Casey’s General Stores

In other Casey’s General Stores news, Director Mike Spanos bought 500 shares of Casey’s General Stores stock in a transaction that occurred on Monday, December 23rd. The shares were acquired at an average price of $396.76 per share, for a total transaction of $198,380.00. Following the acquisition, the director now owns 3,097 shares of the company’s stock, valued at $1,228,765.72. The trade was a 19.25 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Katrina S. Lindsey sold 450 shares of Casey’s General Stores stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $427.13, for a total transaction of $192,208.50. Following the transaction, the insider now owns 2,247 shares in the company, valued at $959,761.11. The trade was a 16.69 % decrease in their position. The disclosure for this sale can be found here. 0.56% of the stock is owned by company insiders.

Casey’s General Stores Company Profile

Casey’s General Stores, Inc engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.