Entropy Technologies LP Takes $251,000 Position in Casey’s General Stores, Inc. (NASDAQ:CASY)

Entropy Technologies LP bought a new position in Casey’s General Stores, Inc. (NASDAQ:CASY) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 668 shares of the company’s stock, valued at approximately $251,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Park Place Capital Corp purchased a new position in Casey’s General Stores in the 2nd quarter worth about $31,000. Innealta Capital LLC purchased a new position in shares of Casey’s General Stores in the second quarter worth approximately $32,000. Advisors Asset Management Inc. acquired a new stake in shares of Casey’s General Stores during the first quarter valued at approximately $32,000. Bank & Trust Co purchased a new stake in shares of Casey’s General Stores in the 2nd quarter valued at approximately $40,000. Finally, Venturi Wealth Management LLC boosted its stake in Casey’s General Stores by 941.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 125 shares of the company’s stock worth $47,000 after purchasing an additional 113 shares during the period. 85.63% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Mike Spanos acquired 267 shares of Casey’s General Stores stock in a transaction dated Wednesday, September 18th. The stock was acquired at an average cost of $376.18 per share, for a total transaction of $100,440.06. Following the completion of the purchase, the director now owns 2,594 shares of the company’s stock, valued at $975,810.92. This represents a 11.47 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Darren M. Rebelez sold 13,500 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $374.54, for a total transaction of $5,056,290.00. Following the completion of the transaction, the chief executive officer now owns 73,838 shares in the company, valued at $27,655,284.52. The trade was a 15.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.56% of the company’s stock.

Casey’s General Stores Price Performance

NASDAQ CASY opened at $401.40 on Friday. 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 stock has a market capitalization of $14.90 billion, a PE ratio of 29.21 and a beta of 0.79. Casey’s General Stores, Inc. has a 12-month low of $266.56 and a 12-month high of $420.27. The company has a 50 day moving average price of $386.44 and a two-hundred day moving average price of $369.51.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Wednesday, September 4th. The company reported $4.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.54 by $0.29. Casey’s General Stores had a net margin of 3.40% and a return on equity of 17.07%. The firm had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.15 billion. During the same period in the prior year, the company posted $4.52 earnings per share. Casey’s General Stores’s revenue for the quarter was up 5.9% on a year-over-year basis. As a group, equities analysts predict that Casey’s General Stores, Inc. will post 14.24 earnings per share for the current fiscal year.

Casey’s General Stores Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CASY shares. Melius Research began 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 target price on the stock. Wells Fargo & Company upped their price target on Casey’s General Stores from $415.00 to $425.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Evercore ISI raised their price objective on Casey’s General Stores from $435.00 to $440.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft lifted 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. Finally, StockNews.com cut shares of Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 3rd. One equities 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.