Tectonic Advisors LLC Acquires 39 Shares of Casey’s General Stores, Inc. (NASDAQ:CASY)

Tectonic Advisors LLC boosted its holdings in Casey’s General Stores, Inc. (NASDAQ:CASY) by 3.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,109 shares of the company’s stock after purchasing an additional 39 shares during the period. Tectonic Advisors LLC’s holdings in Casey’s General Stores were worth $440,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CASY. Endeavor Private Wealth Inc. bought a new position in shares of Casey’s General Stores in the fourth quarter valued at about $36,000. Venturi Wealth Management LLC grew 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 valued at $47,000 after purchasing an additional 113 shares during the last quarter. V Square Quantitative Management LLC increased its holdings in shares of Casey’s General Stores by 22.5% in the third quarter. V Square Quantitative Management LLC now owns 158 shares of the company’s stock valued at $59,000 after purchasing an additional 29 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Casey’s General Stores by 24.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 149 shares of the company’s stock worth $59,000 after purchasing an additional 29 shares during the last quarter. Finally, Kennebec Savings Bank acquired a new position in Casey’s General Stores during the 3rd quarter worth $76,000. Institutional investors and hedge funds own 85.63% of the company’s stock.

Insider Activity at Casey’s General Stores

In related news, insider Katrina S. Lindsey sold 450 shares of Casey’s General Stores stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $427.13, for a total transaction of $192,208.50. Following the completion of the sale, the insider now directly owns 2,247 shares of the company’s stock, valued at approximately $959,761.11. This trade represents a 16.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mike Spanos acquired 500 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was acquired at an average price of $396.76 per share, with a total value of $198,380.00. Following the purchase, the director now directly owns 3,097 shares in the company, valued at approximately $1,228,765.72. This represents a 19.25 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.56% of the stock is owned by insiders.

Casey’s General Stores Stock Up 1.4 %

Casey’s General Stores stock opened at $435.27 on Friday. The stock has a market capitalization of $16.16 billion, a PE ratio of 30.33, a price-to-earnings-growth ratio of 2.40 and a beta of 0.83. Casey’s General Stores, Inc. has a twelve month low of $274.81 and a twelve month high of $439.68. The company has a 50 day moving average of $408.61 and a 200-day moving average of $393.05. The company has a quick ratio of 0.49, a current ratio of 0.88 and a debt-to-equity ratio of 0.74.

Casey’s General Stores (NASDAQ:CASY) last released its earnings results on Monday, December 9th. The company reported $4.85 EPS for the quarter, beating 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 firm had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $4.03 billion. During the same quarter in the previous year, the business posted $4.24 EPS. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, equities research analysts anticipate that Casey’s General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey’s General Stores Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 17th. Investors of record on Monday, February 3rd will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Monday, February 3rd. Casey’s General Stores’s payout ratio is 13.94%.

Wall Street Analyst Weigh In

A number of analysts recently commented on CASY shares. Royal Bank of Canada lifted their price objective on Casey’s General Stores from $403.00 to $428.00 and gave the stock a “sector perform” rating in a research report on Tuesday, December 10th. Evercore ISI increased their price objective on shares of Casey’s General Stores from $460.00 to $470.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Deutsche Bank Aktiengesellschaft lifted their price objective on 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. Gordon Haskett assumed coverage on Casey’s General Stores in a report on Monday, November 4th. They set a “hold” rating and a $400.00 target price on the stock. Finally, StockNews.com cut Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Casey’s General Stores currently has a consensus rating of “Moderate Buy” and an average 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.