Oak Ridge Investments LLC Lowers Stake in Casey’s General Stores, Inc. (NASDAQ:CASY)

Oak Ridge Investments LLC lessened its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 2.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,685 shares of the company’s stock after selling 39 shares during the period. Oak Ridge Investments LLC’s holdings in Casey’s General Stores were worth $633,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CASY. Park Place Capital Corp acquired a new position in shares of Casey’s General Stores during the second quarter worth about $31,000. Innealta Capital LLC acquired a new position in shares of Casey’s General Stores during the second quarter worth about $32,000. Advisors Asset Management Inc. acquired a new position in shares of Casey’s General Stores during the first quarter worth about $32,000. Bank & Trust Co acquired a new position in shares of Casey’s General Stores during the second quarter worth about $40,000. Finally, V Square Quantitative Management LLC lifted its stake in shares of Casey’s General Stores by 22.5% during the third quarter. V Square Quantitative Management LLC now owns 158 shares of the company’s stock worth $59,000 after purchasing an additional 29 shares in the last quarter. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Insider Activity

In other news, insider Thomas P. Brennan, Jr. sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $380.24, for a total transaction of $1,140,720.00. Following the completion of the transaction, the insider now directly owns 9,044 shares of the company’s stock, valued at approximately $3,438,890.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Thomas P. Brennan, Jr. sold 3,000 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $380.24, for a total value of $1,140,720.00. Following the completion of the transaction, the insider now directly owns 9,044 shares of the company’s stock, valued at $3,438,890.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Darren M. Rebelez sold 13,500 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 73,838 shares of the company’s stock, valued at $27,655,284.52. This trade represents a 0.00 % 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.

Analyst Ratings Changes

A number of research analysts have commented on CASY shares. Melius Research started coverage on Casey’s General Stores in a research note on Monday, September 23rd. They set a “buy” rating and a $435.00 price objective on the stock. Wells Fargo & Company boosted their price target on 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 cut Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 3rd. Deutsche Bank Aktiengesellschaft boosted their price target on Casey’s General Stores from $420.00 to $444.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, Benchmark reiterated 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $408.09.

Casey’s General Stores Trading Down 0.2 %

Shares of NASDAQ CASY opened at $393.19 on Friday. The stock’s 50 day moving average price is $378.56 and its two-hundred day moving average price is $362.82. Casey’s General Stores, Inc. has a 52-week low of $266.56 and a 52-week high of $401.17. The stock has a market capitalization of $14.60 billion, a P/E ratio of 28.62 and a beta of 0.80. 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) last posted its earnings results on Wednesday, September 4th. The company reported $4.83 EPS for the quarter, beating the consensus estimate of $4.54 by $0.29. The company had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.15 billion. Casey’s General Stores had a return on equity of 17.07% and a net margin of 3.40%. The business’s revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the company earned $4.52 earnings per share. On average, analysts anticipate that Casey’s General Stores, Inc. will post 14.01 earnings per share for the current fiscal year.

Casey’s General Stores Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend is Friday, November 1st. Casey’s General Stores’s dividend payout ratio (DPR) is presently 14.56%.

Casey’s General Stores Company Profile

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.