Fruth Investment Management Purchases 780 Shares of Casey’s General Stores, Inc. (NASDAQ:CASY)

Fruth Investment Management boosted its position in Casey’s General Stores, Inc. (NASDAQ:CASY) by 7.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 11,307 shares of the company’s stock after buying an additional 780 shares during the period. Casey’s General Stores comprises about 1.2% of Fruth Investment Management’s portfolio, making the stock its 20th biggest holding. Fruth Investment Management’s holdings in Casey’s General Stores were worth $4,480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CASY. International Assets Investment Management LLC acquired a new position in Casey’s General Stores in the 3rd quarter valued at $959,880,000. Franklin Resources Inc. increased its position in shares of Casey’s General Stores by 49.9% in the third quarter. Franklin Resources Inc. now owns 524,237 shares of the company’s stock worth $204,861,000 after purchasing an additional 174,586 shares during the period. Benjamin Edwards Inc. raised its stake in Casey’s General Stores by 1,819.1% in the third 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 in the last quarter. Wellington Management Group LLP lifted its position 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 purchasing an additional 121,488 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in Casey’s General Stores by 18.7% during 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 in the last quarter. 85.63% of the stock is owned by institutional investors and hedge funds.

Casey’s General Stores Stock Up 2.0 %

Casey’s General Stores stock opened at $429.42 on Thursday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.49 and a current ratio of 0.88. The firm has a market cap of $15.94 billion, a price-to-earnings ratio of 29.92, a PEG ratio of 2.40 and a beta of 0.83. The firm has a 50 day moving average price of $408.32 and a two-hundred day moving average price of $392.76. Casey’s General Stores, Inc. has a 52-week low of $272.46 and a 52-week high of $439.68.

Casey’s General Stores (NASDAQ:CASY) last released its earnings results on Monday, December 9th. The company reported $4.85 EPS for the quarter, topping 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 business had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same quarter last year, the firm posted $4.24 earnings per share. The firm’s revenue was down 2.9% on a year-over-year basis. Equities analysts predict that Casey’s General Stores, Inc. will post 13.94 EPS for the current year.

Casey’s General Stores Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 17th. Investors of record on Monday, February 3rd will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.47%. Casey’s General Stores’s payout ratio is presently 13.94%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CASY. Evercore ISI increased 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 report on Friday, December 13th. StockNews.com downgraded shares of Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a report on Friday, December 13th. BMO Capital Markets reissued a “market perform” rating and set a $450.00 price objective (up previously from $400.00) on shares of Casey’s General Stores in a report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft boosted their price objective on Casey’s General Stores from $451.00 to $454.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, Gordon Haskett assumed coverage on Casey’s General Stores in a research report on Monday, November 4th. They issued a “hold” rating and a $400.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $424.00.

Insider Buying and Selling

In related news, insider Katrina S. Lindsey sold 450 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $427.13, for a total value of $192,208.50. Following the transaction, the insider now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mike Spanos bought 500 shares of the company’s stock in a transaction dated 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 acquisition, the director now directly owns 3,097 shares of the company’s stock, 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.

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.