Avestar Capital LLC Makes New $203,000 Investment in Casey’s General Stores, Inc. (NASDAQ:CASY)

Avestar Capital LLC acquired a new stake in Casey’s General Stores, Inc. (NASDAQ:CASY) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 512 shares of the company’s stock, valued at approximately $203,000.

Other institutional investors have also recently made changes to their positions in the company. Harbour Capital Advisors LLC acquired a new stake in Casey’s General Stores during the 3rd quarter worth about $387,000. V Square Quantitative Management LLC grew its holdings in 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 acquiring an additional 29 shares during the period. Blue Trust Inc. lifted its holdings in Casey’s General Stores by 62.0% in the third quarter. Blue Trust Inc. now owns 567 shares of the company’s stock valued at $216,000 after acquiring an additional 217 shares during the period. Raymond James & Associates boosted its position in Casey’s General Stores by 2.9% in the 3rd quarter. Raymond James & Associates now owns 219,462 shares of the company’s stock worth $82,454,000 after purchasing an additional 6,170 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Casey’s General Stores by 400.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 616 shares of the company’s stock worth $231,000 after purchasing an additional 493 shares during the period. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Insider Transactions at Casey’s General Stores

In other news, Director Mike Spanos acquired 500 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average cost of $396.76 per share, for a total transaction of $198,380.00. Following the completion of the transaction, the director now owns 3,097 shares in the company, valued at approximately $1,228,765.72. This trade represents a 19.25 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Katrina S. Lindsey sold 450 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $427.13, for a total transaction of $192,208.50. Following the completion of the transaction, the insider now owns 2,247 shares in the company, valued at $959,761.11. The trade was a 16.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.56% of the company’s stock.

Casey’s General Stores Stock Performance

NASDAQ:CASY opened at $432.17 on Friday. The company has a market cap of $16.04 billion, a P/E ratio of 30.12, a P/E/G ratio of 2.48 and a beta of 0.83. Casey’s General Stores, Inc. has a twelve month low of $284.57 and a twelve month high of $445.17. The company’s 50-day moving average price is $410.19 and its 200-day moving average price is $395.29. The company has a current ratio of 0.88, a quick ratio of 0.49 and a debt-to-equity ratio of 0.74.

Casey’s General Stores (NASDAQ:CASY) last issued its earnings results on Monday, December 9th. The company reported $4.85 earnings per share for the quarter, topping the consensus estimate of $4.29 by $0.56. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. The business had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $4.03 billion. During the same period in the previous year, the firm posted $4.24 EPS. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, sell-side analysts forecast that Casey’s General Stores, Inc. will post 13.94 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 Monday, February 17th. Shareholders of record on Monday, February 3rd will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, February 3rd. Casey’s General Stores’s dividend payout ratio (DPR) is presently 13.94%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CASY shares. Royal Bank of Canada boosted their target price on shares of Casey’s General Stores from $403.00 to $428.00 and gave the company a “sector perform” rating in a research note on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Casey’s General Stores from $451.00 to $454.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Evercore ISI lifted their price target on Casey’s General Stores from $460.00 to $470.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. StockNews.com downgraded Casey’s General Stores from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $450.00 price objective (up from $400.00) on shares of Casey’s General Stores in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $424.00.

About Casey’s General Stores

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.