Carnegie Investment Counsel Has $13.94 Million Stake in Casey’s General Stores, Inc. (NASDAQ:CASY)

Carnegie Investment Counsel increased its stake in Casey’s General Stores, Inc. (NASDAQ:CASY) by 63.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,113 shares of the company’s stock after purchasing an additional 14,380 shares during the period. Carnegie Investment Counsel owned approximately 0.10% of Casey’s General Stores worth $13,944,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in shares of Casey’s General Stores in the fourth quarter valued at approximately $35,000. Syon Capital LLC acquired a new position in shares of Casey’s General Stores during the 4th quarter worth about $331,000. Wellington Management Group LLP bought a new position in shares of Casey’s General Stores in the 4th quarter valued at about $20,180,000. HighPoint Advisor Group LLC acquired a new stake in shares of Casey’s General Stores in the fourth quarter valued at about $248,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Casey’s General Stores in the fourth quarter valued at about $903,000. 85.63% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Casey’s General Stores

In related news, insider Thomas P. Brennan, Jr. sold 3,000 shares of Casey’s General Stores stock in a transaction on Friday, September 6th. The shares were 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 owns 9,044 shares of the company’s stock, valued at $3,438,890.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Thomas P. Brennan, Jr. sold 3,000 shares of the firm’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 sale, the insider now owns 9,044 shares of the company’s stock, valued at $3,438,890.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mike Spanos purchased 267 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was acquired at an average cost of $376.18 per share, for a total transaction of $100,440.06. Following the completion of the purchase, the director now owns 2,594 shares of the company’s stock, valued at approximately $975,810.92. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.56% of the company’s stock.

Casey’s General Stores Trading Up 1.3 %

CASY opened at $385.90 on Friday. The company’s 50 day moving average price is $372.96 and its two-hundred day moving average price is $354.97. The firm has a market capitalization of $14.32 billion, a price-to-earnings ratio of 28.09 and a beta of 0.80. Casey’s General Stores, Inc. has a fifty-two week low of $260.13 and a fifty-two week high of $401.07. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.84 and a quick ratio of 0.44.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Wednesday, September 4th. The company reported $4.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.54 by $0.29. Casey’s General Stores had a return on equity of 17.07% and a net margin of 3.40%. The business had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same period last year, the company earned $4.52 EPS. Casey’s General Stores’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, research analysts predict that Casey’s General Stores, Inc. will post 14.01 earnings per share for the current year.

Casey’s General Stores Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $2.00 annualized dividend and a yield of 0.52%. Casey’s General Stores’s payout ratio is 14.56%.

Wall Street Analyst Weigh In

CASY has been the subject of a number of analyst reports. Wells Fargo & Company raised 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. Royal Bank of Canada increased their price objective on shares of Casey’s General Stores from $393.00 to $403.00 and gave the company a “sector perform” rating in a research report on Thursday, September 5th. Evercore ISI boosted their price target on Casey’s General Stores from $410.00 to $435.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Northcoast Research raised shares of Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $410.00 price objective for the company in a report on Thursday, July 11th. Finally, Melius Research started coverage on shares of Casey’s General Stores in a report on Monday, September 23rd. They set a “buy” rating and a $435.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $407.64.

About Casey’s General Stores

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.