Hennessy Advisors Inc. Purchases Shares of 22,000 Casey’s General Stores, Inc. $CASY

Hennessy Advisors Inc. purchased a new stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) during the second quarter, Holdings Channel reports. The fund purchased 22,000 shares of the company’s stock, valued at approximately $11,226,000.

Other institutional investors have also bought and sold shares of the company. Versant Capital Management Inc bought a new stake in Casey’s General Stores during the first quarter valued at $25,000. Summit Securities Group LLC bought a new stake in Casey’s General Stores during the first quarter valued at $32,000. Iron Horse Wealth Management LLC boosted its position in Casey’s General Stores by 40.0% during the first quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company’s stock valued at $40,000 after acquiring an additional 26 shares during the last quarter. WPG Advisers LLC acquired a new position in shares of Casey’s General Stores during the first quarter valued at about $47,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Casey’s General Stores by 242.9% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 96 shares of the company’s stock valued at $49,000 after purchasing an additional 68 shares during the period. Institutional investors own 85.63% of the company’s stock.

Insider Buying and Selling

In other Casey’s General Stores news, insider Chad Michael Frazell sold 3,487 shares of the stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $555.40, for a total value of $1,936,679.80. Following the completion of the sale, the insider owned 7,993 shares in the company, valued at approximately $4,439,312.20. This trade represents a 30.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CASY. Stephens reiterated an “overweight” rating and set a $530.00 price objective on shares of Casey’s General Stores in a report on Tuesday, September 9th. Jefferies Financial Group upped their price objective on shares of Casey’s General Stores from $575.00 to $600.00 and gave the company a “buy” rating in a report on Tuesday, September 9th. Evercore ISI upped their price objective on shares of Casey’s General Stores from $560.00 to $580.00 and gave the company an “outperform” rating in a report on Wednesday, September 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of Casey’s General Stores in a report on Saturday, September 27th. Finally, BMO Capital Markets upped their price objective on shares of Casey’s General Stores from $515.00 to $540.00 and gave the company a “market perform” rating in a report on Wednesday, September 10th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $529.10.

Casey’s General Stores Trading Up 1.1%

CASY opened at $567.48 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.03 and a quick ratio of 0.61. Casey’s General Stores, Inc. has a fifty-two week low of $366.00 and a fifty-two week high of $571.57. The firm has a market capitalization of $21.10 billion, a PE ratio of 36.42 and a beta of 0.68. The company’s 50-day moving average is $526.40 and its 200 day moving average is $488.11.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Monday, September 8th. The company reported $5.77 EPS for the quarter, beating the consensus estimate of $5.02 by $0.75. The firm had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.47 billion. Casey’s General Stores had a net margin of 3.54% and a return on equity of 16.73%. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter last year, the business posted $4.83 EPS. As a group, research analysts predict that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey’s General Stores Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Saturday, November 1st will be paid a $0.57 dividend. The ex-dividend date is Friday, October 31st. This represents a $2.28 annualized dividend and a yield of 0.4%. Casey’s General Stores’s dividend payout ratio (DPR) is 14.63%.

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.