Smith Salley Wealth Management Has $10.98 Million Stock Holdings in Casey’s General Stores, Inc. (NASDAQ:CASY)

Smith Salley Wealth Management increased its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 4.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 29,235 shares of the company’s stock after acquiring an additional 1,278 shares during the period. Smith Salley Wealth Management owned about 0.08% of Casey’s General Stores worth $10,984,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Park Place Capital Corp acquired a new stake in Casey’s General Stores during the second quarter valued at approximately $31,000. Innealta Capital LLC acquired a new stake in Casey’s General Stores in the 2nd quarter valued at $32,000. Advisors Asset Management Inc. bought a new stake in Casey’s General Stores in the first quarter valued at $32,000. Bank & Trust Co bought a new stake in Casey’s General Stores in the second quarter valued at $40,000. Finally, V Square Quantitative Management LLC raised its stake in Casey’s General Stores by 22.5% during the third quarter. V Square Quantitative Management LLC now owns 158 shares of the company’s stock worth $59,000 after acquiring an additional 29 shares in the last quarter. Institutional investors own 85.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CASY. Royal Bank of Canada boosted their target price on shares of Casey’s General Stores from $393.00 to $403.00 and gave the company a “sector perform” rating in a research note on Thursday, September 5th. Northcoast Research raised shares of Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $410.00 price objective on the stock in a research note on Thursday, July 11th. StockNews.com cut shares of Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 3rd. Evercore ISI increased their price target on Casey’s General Stores from $435.00 to $440.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company raised their price target on Casey’s General Stores from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $408.09.

Casey’s General Stores Stock Performance

Shares of NASDAQ:CASY opened at $391.13 on Friday. The firm’s 50 day simple moving average is $376.38 and its 200 day simple moving average is $360.19. Casey’s General Stores, Inc. has a fifty-two week low of $266.55 and a fifty-two week high of $401.07. The company has a market capitalization of $14.52 billion, a price-to-earnings ratio of 29.12 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.84 and a quick ratio of 0.44.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Wednesday, September 4th. The company reported $4.83 EPS for the quarter, topping analysts’ consensus estimates of $4.54 by $0.29. Casey’s General Stores had a return on equity of 17.07% and a net margin of 3.40%. The company had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same quarter last year, the firm posted $4.52 earnings per share. Casey’s General Stores’s revenue was up 5.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Casey’s General Stores, Inc. will post 14.01 earnings per share for the current year.

Casey’s General Stores Dividend Announcement

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

Insider Activity

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

Casey’s General Stores Company 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.