Cerity Partners LLC Increases Stake in Casey’s General Stores, Inc. (NASDAQ:CASY)

by · The Markets Daily

Cerity Partners LLC grew its holdings in Casey’s General Stores, Inc. (NASDAQ:CASY – Free Report) by 16.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 64,006 shares of the company’s stock after purchasing an additional 9,187 shares during the quarter. Cerity Partners LLC owned approximately 0.17% of Casey’s General Stores worth $24,048,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CASY. Park Place Capital Corp bought a new stake in shares of Casey’s General Stores in the 2nd quarter valued at about $31,000. Advisors Asset Management Inc. purchased a new stake in Casey’s General Stores during the 1st quarter worth approximately $32,000. Innealta Capital LLC acquired a new position in Casey’s General Stores during the 2nd quarter valued at approximately $32,000. Bank & Trust Co purchased a new position in shares of Casey’s General Stores in the second quarter worth $40,000. Finally, Venturi Wealth Management LLC lifted its stake in shares of Casey’s General Stores by 941.7% during the third quarter. Venturi Wealth Management LLC now owns 125 shares of the company’s stock worth $47,000 after buying an additional 113 shares during the period. Institutional investors own 85.63% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on CASY. Evercore ISI boosted their price target on Casey’s General Stores from $435.00 to $440.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Wells Fargo & Company lifted their price target on Casey’s General Stores from $415.00 to $425.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Benchmark reissued a “buy” rating and issued a $410.00 price target on shares of Casey’s General Stores in a research note on Tuesday, September 10th. Gordon Haskett initiated coverage on Casey’s General Stores in a research note on Monday, November 4th. They set a “hold” rating and a $400.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered shares of Casey’s General Stores from a “neutral” rating to an “underweight” rating and upped their target price for the stock from $300.00 to $337.00 in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Casey’s General Stores has an average rating of “Moderate Buy” and an average price target of $408.25.

Check Out Our Latest Analysis on CASY

Insider Activity at Casey’s General Stores

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

Casey’s General Stores Stock Performance

Shares of Casey’s General Stores stock opened at $427.88 on Monday. The firm has a market cap of $15.88 billion, a PE ratio of 31.14 and a beta of 0.79. Casey’s General Stores, Inc. has a 52 week low of $266.56 and a 52 week high of $428.61. The business’s fifty day simple moving average is $390.34 and its 200-day simple moving average is $373.12. The company has a quick ratio of 0.44, a current ratio of 0.84 and a debt-to-equity ratio of 0.44.

Casey’s General Stores (NASDAQ:CASY – Get Free Report) last issued its quarterly earnings results 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 company had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same period in the prior year, the firm earned $4.52 earnings per share. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. Equities analysts forecast that Casey’s General Stores, Inc. will post 14.24 earnings per share for the current year.

Casey’s General Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Friday, November 1st. Casey’s General Stores’s payout ratio is presently 14.56%.

Casey’s General Stores Company Profile

(Free Report)

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.

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