Peterson Financial Group Inc. Acquires New Stake in Casey’s General Stores, Inc. (NASDAQ:CASY)

Peterson Financial Group Inc. acquired a new stake in Casey’s General Stores, Inc. (NASDAQ:CASY) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 314 shares of the company’s stock, valued at approximately $118,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Aptus Capital Advisors LLC increased its stake in shares of Casey’s General Stores by 15.2% in the 3rd quarter. Aptus Capital Advisors LLC now owns 28,575 shares of the company’s stock worth $10,736,000 after acquiring an additional 3,776 shares during the last quarter. Bailard Inc. acquired a new stake in shares of Casey’s General Stores in the 2nd quarter worth $1,021,000. Janney Montgomery Scott LLC increased its stake in shares of Casey’s General Stores by 24.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 7,210 shares of the company’s stock worth $2,709,000 after acquiring an additional 1,395 shares during the last quarter. Marks Group Wealth Management Inc acquired a new stake in shares of Casey’s General Stores in the 3rd quarter worth $5,489,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Casey’s General Stores in the 2nd quarter worth $2,183,000. 85.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CASY has been the subject of a number of recent analyst reports. Royal Bank of Canada raised their price objective on Casey’s General Stores from $393.00 to $403.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 5th. Wells Fargo & Company raised their price objective on Casey’s General Stores from $415.00 to $425.00 and gave the stock 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. StockNews.com downgraded Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 3rd. Finally, Melius Research initiated coverage on Casey’s General Stores in a research report on Monday, September 23rd. They set a “buy” rating and a $435.00 price objective for the company. One equities 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $408.25.

Casey’s General Stores Trading Down 1.1 %

CASY opened at $401.40 on Friday. The firm has a market cap of $14.90 billion, a price-to-earnings ratio of 29.21 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 $420.27. The business’s 50 day moving average is $386.44 and its two-hundred day moving average is $369.51. 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 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. The company had revenue of $4.10 billion for 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 firm’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.52 earnings per share. On average, research analysts predict that Casey’s General Stores, Inc. will post 14.24 EPS for the current year.

Casey’s General Stores Announces Dividend

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

Insiders Place Their Bets

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

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.