New Age Alpha Advisors LLC Takes Position in Casey’s General Stores, Inc. (NASDAQ:CASY)

New Age Alpha Advisors LLC acquired a new position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) in the fourth quarter, HoldingsChannel reports. The fund acquired 8,044 shares of the company’s stock, valued at approximately $3,187,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in shares of Casey’s General Stores in the 4th quarter valued at about $236,500,000. Norges Bank bought a new stake in Casey’s General Stores in the fourth quarter valued at approximately $175,607,000. Franklin Resources Inc. raised 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 worth $204,861,000 after purchasing an additional 174,586 shares during the period. Benjamin Edwards Inc. raised its holdings in Casey’s General Stores by 1,819.1% in the third 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 during the period. Finally, Wellington Management Group LLP boosted its position in shares of Casey’s General Stores by 281.4% during the third 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. Institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Price Performance

NASDAQ:CASY opened at $432.00 on Friday. Casey’s General Stores, Inc. has a 52-week low of $306.45 and a 52-week high of $445.17. The company has a market cap of $16.04 billion, a P/E ratio of 30.10, a P/E/G ratio of 2.40 and a beta of 0.87. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.49 and a current ratio of 0.88. The stock’s 50-day simple moving average is $413.35 and its 200 day simple moving average is $402.99.

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

Casey’s General Stores Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.46%. The ex-dividend date is Thursday, May 1st. Casey’s General Stores’s dividend payout ratio (DPR) is currently 13.94%.

Insider Buying and Selling at Casey’s General Stores

In other Casey’s General Stores news, Director Mike Spanos acquired 256 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were purchased at an average price of $390.54 per share, for a total transaction of $99,978.24. Following the completion of the purchase, the director now directly owns 3,356 shares of the company’s stock, valued at approximately $1,310,652.24. This represents a 8.26 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.56% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on CASY shares. Evercore ISI lowered 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 report on Tuesday, March 11th. StockNews.com downgraded Casey’s General Stores from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. Royal Bank of Canada set a $438.00 price objective on Casey’s General Stores and gave the company a “sector perform” rating in a report on Wednesday, March 12th. BMO Capital Markets reissued a “market perform” rating and set a $450.00 target price (up from $400.00) on shares of Casey’s General Stores in a research note on Wednesday, December 18th. Finally, 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Casey’s General Stores has an average rating of “Moderate Buy” and an average price target of $423.09.

About Casey’s General Stores

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.