Russell Investments Group Ltd. Raises Holdings in Casey’s General Stores, Inc. (NASDAQ:CASY)

Russell Investments Group Ltd. increased its position in Casey’s General Stores, Inc. (NASDAQ:CASY) by 38.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 43,129 shares of the company’s stock after purchasing an additional 12,089 shares during the period. Russell Investments Group Ltd.’s holdings in Casey’s General Stores were worth $17,090,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. HighTower Advisors LLC grew its stake in shares of Casey’s General Stores by 0.4% in the 3rd quarter. HighTower Advisors LLC now owns 13,645 shares of the company’s stock worth $5,156,000 after buying an additional 49 shares in the last quarter. Integrated Wealth Concepts LLC grew its position in Casey’s General Stores by 109.7% in the third quarter. Integrated Wealth Concepts LLC now owns 1,726 shares of the company’s stock worth $649,000 after acquiring an additional 903 shares in the last quarter. Wellington Management Group LLP increased its stake in Casey’s General Stores by 281.4% during the third quarter. Wellington Management Group LLP now owns 164,656 shares of the company’s stock worth $61,863,000 after acquiring an additional 121,488 shares during the last quarter. XTX Topco Ltd purchased a new stake in Casey’s General Stores during the third quarter valued at approximately $397,000. Finally, MML Investors Services LLC raised its position in Casey’s General Stores by 14.3% during the third quarter. MML Investors Services LLC now owns 4,176 shares of the company’s stock valued at $1,569,000 after purchasing an additional 522 shares during the period. 85.63% of the stock is owned by institutional investors.

Casey’s General Stores Price Performance

Shares of CASY stock opened at $439.74 on Thursday. Casey’s General Stores, Inc. has a twelve month low of $306.45 and a twelve month high of $458.92. The company has a current ratio of 0.88, a quick ratio of 0.49 and a debt-to-equity ratio of 0.74. The stock has a fifty day simple moving average of $417.34 and a two-hundred day simple moving average of $406.70. The stock has a market capitalization of $16.32 billion, a price-to-earnings ratio of 30.64, a P/E/G ratio of 2.40 and a beta of 0.74.

Casey’s General Stores (NASDAQ:CASY) last issued its earnings results on Tuesday, March 11th. The company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.57. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. The company had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $3.74 billion. During the same period in the prior year, the business earned $2.33 EPS. The firm’s quarterly revenue was up 17.2% on a year-over-year basis. On average, analysts predict 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 disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date is Thursday, May 1st. Casey’s General Stores’s dividend payout ratio (DPR) is 13.94%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. StockNews.com downgraded Casey’s General Stores from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Royal Bank of Canada set a $438.00 price objective on shares of Casey’s General Stores and gave the company a “sector perform” rating in a research report on Wednesday, March 12th. Gordon Haskett upgraded shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Stephens upgraded shares of Casey’s General Stores to a “strong-buy” rating in a report on Monday. Finally, BMO Capital Markets reissued 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 research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $424.00.

Insiders Place Their Bets

In related news, Director Mike Spanos bought 256 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were bought at an average price of $390.54 per share, for a total transaction of $99,978.24. Following the completion of the purchase, the director now directly owns 3,356 shares of the company’s stock, valued at approximately $1,310,652.24. This trade represents a 8.26 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Katrina S. Lindsey sold 250 shares of the stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $437.01, for a total transaction of $109,252.50. Following the sale, the insider now directly owns 2,443 shares of the company’s stock, valued at approximately $1,067,615.43. The trade was a 9.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.56% of the stock is owned by company insiders.

Casey’s General Stores 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.