Atria Investments Inc Raises Stock Holdings in Casey’s General Stores, Inc. (NASDAQ:CASY)

Atria Investments Inc grew its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 3.2% in the third quarter, Holdings Channel reports. The fund owned 3,198 shares of the company’s stock after buying an additional 100 shares during the quarter. Atria Investments Inc’s holdings in Casey’s General Stores were worth $1,201,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CASY. US Bancorp DE increased its holdings in shares of Casey’s General Stores by 11.6% in the 1st quarter. US Bancorp DE now owns 2,802 shares of the company’s stock worth $892,000 after buying an additional 291 shares during the last quarter. Avantax Advisory Services Inc. purchased a new position in Casey’s General Stores in the first quarter worth about $226,000. Mitsubishi UFJ Trust & Banking Corp grew its position in Casey’s General Stores by 66.9% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,970 shares of the company’s stock worth $937,000 after acquiring an additional 1,190 shares in the last quarter. Cynosure Group LLC purchased a new stake in Casey’s General Stores during the first quarter valued at approximately $345,000. Finally, Invesco LLC raised its position in Casey’s General Stores by 4.1% during the first quarter. Invesco LLC now owns 2,596 shares of the company’s stock valued at $827,000 after purchasing an additional 103 shares during the period. 85.63% of the stock is owned by hedge funds and other institutional investors.

Casey’s General Stores Stock Performance

NASDAQ CASY opened at $401.40 on Friday. The stock has a fifty day simple moving average of $386.44 and a 200-day simple moving average of $369.51. The company has a current ratio of 0.84, a quick ratio of 0.44 and a debt-to-equity ratio of 0.44. The stock has a market cap of $14.90 billion, a PE ratio of 29.21 and a beta of 0.79. Casey’s General Stores, Inc. has a twelve month low of $266.56 and a twelve month high of $420.27.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Wednesday, September 4th. The company reported $4.83 EPS for the quarter, topping the consensus estimate 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 business had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same period last year, the business posted $4.52 earnings per share. The company’s quarterly revenue was up 5.9% on a year-over-year basis. Equities analysts anticipate that Casey’s General Stores, Inc. will post 14.24 earnings per share for the current year.

Casey’s General Stores Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were paid a dividend of $0.50 per share. The ex-dividend date was Friday, November 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.50%. Casey’s General Stores’s payout ratio is 14.56%.

Insider Activity at Casey’s General Stores

In other news, Director Mike Spanos purchased 267 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were bought at an average price of $376.18 per share, with a total value of $100,440.06. Following the completion of the transaction, the director now directly owns 2,594 shares in the company, valued at approximately $975,810.92. This represents a 11.47 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Darren M. Rebelez sold 13,500 shares of the stock in a transaction 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 sale, the chief executive officer now owns 73,838 shares of the company’s stock, valued at approximately $27,655,284.52. This represents a 15.46 % decrease in their position. The disclosure for this sale can be found here. 0.56% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Casey’s General Stores from $451.00 to $454.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Wells Fargo & Company lifted their price target on shares of Casey’s General Stores from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. StockNews.com downgraded shares of Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 3rd. Melius Research began coverage on shares of Casey’s General Stores in a research note on Monday, September 23rd. They issued a “buy” rating and a $435.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered Casey’s General Stores from a “neutral” rating to an “underweight” rating and boosted their target price for the company from $300.00 to $337.00 in a research report on Thursday, September 19th. One 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. According to MarketBeat.com, Casey’s General Stores presently has a consensus rating of “Moderate Buy” and a consensus price target of $408.25.

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.