International Assets Investment Management LLC Makes New $959.88 Million Investment in Casey’s General Stores, Inc. (NASDAQ:CASY)

International Assets Investment Management LLC purchased a new position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 255,483 shares of the company’s stock, valued at approximately $959,880,000.

Several other institutional investors also recently added to or reduced their stakes in CASY. Millennium Management LLC increased its position in Casey’s General Stores by 3,846.1% during the second quarter. Millennium Management LLC now owns 172,320 shares of the company’s stock worth $65,750,000 after buying an additional 176,920 shares during the period. DAVENPORT & Co LLC increased its holdings in shares of Casey’s General Stores by 11,242.6% in the first quarter. DAVENPORT & Co LLC now owns 107,641 shares of the company’s stock valued at $34,284,000 after purchasing an additional 106,692 shares during the period. Scout Investments Inc. raised its stake in shares of Casey’s General Stores by 138.2% during the first quarter. Scout Investments Inc. now owns 179,051 shares of the company’s stock worth $56,467,000 after purchasing an additional 103,879 shares during the last quarter. Bridges Investment Management Inc. raised its stake in shares of Casey’s General Stores by 110.0% during the second quarter. Bridges Investment Management Inc. now owns 177,190 shares of the company’s stock worth $67,609,000 after purchasing an additional 92,813 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Casey’s General Stores by 189.1% during the second quarter. American Century Companies Inc. now owns 132,375 shares of the company’s stock worth $50,509,000 after purchasing an additional 86,582 shares during the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

Casey’s General Stores Stock Up 0.0 %

Casey’s General Stores stock opened at $390.50 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.44 and a current ratio of 0.84. The firm has a market capitalization of $14.49 billion, a price-to-earnings ratio of 29.08 and a beta of 0.80. Casey’s General Stores, Inc. has a fifty-two week low of $264.40 and a fifty-two week high of $401.07. The stock’s fifty day moving average is $376.00 and its two-hundred day moving average is $359.12.

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

Casey’s General Stores Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.51%. The ex-dividend date is Friday, November 1st. Casey’s General Stores’s dividend payout ratio (DPR) is 14.89%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CASY shares. Evercore ISI upped their price target on Casey’s General Stores from $435.00 to $440.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Wells Fargo & Company upped their price target on Casey’s General Stores from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Royal Bank of Canada upped their price target on Casey’s General Stores from $393.00 to $403.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 5th. Deutsche Bank Aktiengesellschaft upped their price target on Casey’s General Stores from $420.00 to $444.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, JPMorgan Chase & Co. cut Casey’s General Stores from a “neutral” rating to an “underweight” rating and increased their price objective for the stock from $300.00 to $337.00 in a research report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $408.09.

Insider Buying and Selling at Casey’s General Stores

In other news, Director Mike Spanos bought 267 shares of the stock in a transaction on Wednesday, September 18th. The shares were bought at an average price of $376.18 per share, with a total value of $100,440.06. Following the completion of the acquisition, 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Mike Spanos acquired 267 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were acquired at an average price of $376.18 per share, with a total value of $100,440.06. Following the completion of the purchase, the director now directly owns 2,594 shares in the company, valued at approximately $975,810.92. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Darren M. Rebelez sold 13,500 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $374.54, for a total value of $5,056,290.00. Following the sale, the chief executive officer now directly owns 73,838 shares in the company, valued at approximately $27,655,284.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.47% of the stock is owned by corporate insiders.

Casey’s General Stores Profile

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.