Corient Private Wealth LLC Raises Stock Position in Casey’s General Stores, Inc. (NASDAQ:CASY)

Corient Private Wealth LLC raised its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 30.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 107,628 shares of the company’s stock after buying an additional 24,925 shares during the period. Corient Private Wealth LLC owned about 0.29% of Casey’s General Stores worth $42,646,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in shares of Casey’s General Stores in the fourth quarter worth $236,500,000. Franklin Resources Inc. grew its stake in shares of Casey’s General Stores by 49.9% during the 3rd quarter. Franklin Resources Inc. now owns 524,237 shares of the company’s stock valued at $204,861,000 after purchasing an additional 174,586 shares during the period. Benjamin Edwards Inc. increased its position in shares of Casey’s General Stores by 1,819.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 130,291 shares of the company’s stock valued at $48,959,000 after purchasing an additional 123,502 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Casey’s General Stores by 281.4% in the 3rd quarter. Wellington Management Group LLP now owns 164,656 shares of the company’s stock worth $61,863,000 after purchasing an additional 121,488 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Casey’s General Stores by 18.7% in the third quarter. JPMorgan Chase & Co. now owns 758,804 shares of the company’s stock worth $285,090,000 after buying an additional 119,350 shares during the last quarter. 85.63% of the stock is owned by institutional investors.

Insider Activity at Casey’s General Stores

In other news, Director Mike Spanos acquired 500 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were acquired at an average cost of $396.76 per share, with a total value of $198,380.00. Following the acquisition, the director now directly owns 3,097 shares of the company’s stock, valued at approximately $1,228,765.72. The trade was a 19.25 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.56% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have commented on CASY. BMO Capital Markets reaffirmed a “market perform” rating and set a $450.00 target price (up from $400.00) on shares of Casey’s General Stores in a report on Wednesday, December 18th. StockNews.com lowered Casey’s General Stores from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Gordon Haskett upgraded Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Evercore ISI reduced their price target on Casey’s General Stores from $460.00 to $450.00 and set an “outperform” rating for the company in a research report on Tuesday, March 11th. Finally, Royal Bank of Canada set a $438.00 price objective on Casey’s General Stores and gave the stock a “sector perform” rating in a research note on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight 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 price target of $423.09.

Casey’s General Stores Trading Up 1.0 %

CASY stock opened at $399.68 on Tuesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.88 and a quick ratio of 0.49. Casey’s General Stores, Inc. has a 1-year low of $303.95 and a 1-year high of $445.17. The business has a 50 day simple moving average of $409.58 and a two-hundred day simple moving average of $400.36. The company has a market capitalization of $14.84 billion, a price-to-earnings ratio of 27.85, a PEG ratio of 2.40 and a beta of 0.87.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Tuesday, March 11th. The company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.57. The company had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.74 billion. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. Casey’s General Stores’s quarterly revenue was up 17.2% on a year-over-year basis. During the same period last year, the company posted $2.33 earnings per share. 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 company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be given a $0.50 dividend. The ex-dividend date is Thursday, May 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.50%. Casey’s General Stores’s dividend payout ratio is currently 13.94%.

Casey’s General Stores Company Profile

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.