Casey’s General Stores, Inc. (NASDAQ:CASY) Shares Purchased by Fortem Financial Group LLC

Fortem Financial Group LLC increased its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 3.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,307 shares of the company’s stock after purchasing an additional 125 shares during the period. Fortem Financial Group LLC’s holdings in Casey’s General Stores were worth $1,310,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC increased its position in shares of Casey’s General Stores by 941.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 125 shares of the company’s stock worth $47,000 after purchasing an additional 113 shares during the last quarter. V Square Quantitative Management LLC raised its stake in shares of Casey’s General Stores by 22.5% in the 3rd quarter. V Square Quantitative Management LLC now owns 158 shares of the company’s stock valued at $59,000 after acquiring an additional 29 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Casey’s General Stores in the 2nd quarter valued at approximately $68,000. Quarry LP acquired a new position in shares of Casey’s General Stores in the 2nd quarter worth approximately $72,000. Finally, Kennebec Savings Bank purchased a new position in shares of Casey’s General Stores during the 3rd quarter worth approximately $76,000. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CASY shares. Melius Research initiated coverage on Casey’s General Stores in a report on Monday, September 23rd. They issued a “buy” rating and a $435.00 price objective on the stock. BMO Capital Markets restated a “market perform” rating and set a $450.00 price target (up previously from $400.00) on shares of Casey’s General Stores in a report on Wednesday, December 18th. Royal Bank of Canada lifted their price objective on Casey’s General Stores from $403.00 to $428.00 and gave the company a “sector perform” rating in a research note on Tuesday, December 10th. Evercore ISI upped their target price on shares of Casey’s General Stores from $460.00 to $470.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Finally, JPMorgan Chase & Co. cut shares of Casey’s General Stores from a “neutral” rating to an “underweight” rating and boosted their price target for the stock from $300.00 to $337.00 in a report on Thursday, September 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Casey’s General Stores currently has an average rating of “Moderate Buy” and an average price target of $424.00.

Casey’s General Stores Stock Performance

Shares of CASY traded down $2.03 during midday trading on Monday, reaching $395.90. 159,876 shares of the stock were exchanged, compared to its average volume of 174,665. The company has a market capitalization of $14.70 billion, a price-to-earnings ratio of 27.59 and a beta of 0.82. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.88 and a quick ratio of 0.44. Casey’s General Stores, Inc. has a twelve month low of $268.07 and a twelve month high of $439.68. The business’s 50-day moving average price is $410.15 and its 200 day moving average price is $388.12.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Monday, December 9th. The company reported $4.85 earnings per share for the quarter, beating analysts’ consensus estimates of $4.29 by $0.56. The company had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $4.03 billion. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.24 earnings per share. On average, sell-side analysts expect that Casey’s General Stores, Inc. will post 14.28 EPS for the current fiscal year.

Casey’s General Stores Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 17th. Investors of record on Monday, February 3rd will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend is Monday, February 3rd. Casey’s General Stores’s dividend payout ratio (DPR) is presently 13.94%.

Insider Buying and Selling at Casey’s General Stores

In other news, Director Mike Spanos acquired 500 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was bought at an average price of $396.76 per share, for a total transaction of $198,380.00. Following the transaction, the director now owns 3,097 shares in the company, valued at $1,228,765.72. This represents a 19.25 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Katrina S. Lindsey sold 450 shares of Casey’s General Stores stock in a transaction dated Thursday, December 12th. The shares were 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 in the company, valued at approximately $959,761.11. The trade was a 16.69 % decrease in their position. 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, 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.