Nicola Wealth Management LTD. Buys 7,100 Shares of Casey’s General Stores, Inc. (NASDAQ:CASY)

Nicola Wealth Management LTD. boosted its stake in Casey’s General Stores, Inc. (NASDAQ:CASY) by 12.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 62,100 shares of the company’s stock after purchasing an additional 7,100 shares during the quarter. Casey’s General Stores comprises 2.1% of Nicola Wealth Management LTD.’s portfolio, making the stock its 10th largest position. Nicola Wealth Management LTD.’s holdings in Casey’s General Stores were worth $23,332,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CASY. Park Place Capital Corp bought a new stake in shares of Casey’s General Stores in the 2nd quarter worth about $31,000. Advisors Asset Management Inc. acquired a new stake in Casey’s General Stores in the 1st quarter valued at approximately $32,000. Innealta Capital LLC bought a new stake in Casey’s General Stores during the 2nd quarter valued at $32,000. Bank & Trust Co acquired a new position in Casey’s General Stores during the 2nd quarter worth $40,000. Finally, Venturi Wealth Management LLC grew its stake in shares of Casey’s General Stores by 941.7% in the third quarter. Venturi Wealth Management LLC now owns 125 shares of the company’s stock worth $47,000 after purchasing an additional 113 shares in the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. downgraded shares of Casey’s General Stores from a “neutral” rating to an “underweight” rating and upped their price objective for the stock from $300.00 to $337.00 in a report on Thursday, September 19th. Evercore ISI upped their target price 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. 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 note on Wednesday, November 6th. Melius Research assumed coverage on shares of Casey’s General Stores in a research report on Monday, September 23rd. They set a “buy” rating and a $435.00 price objective for the company. Finally, Wells Fargo & Company upped their price objective on shares of Casey’s General Stores from $415.00 to $425.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Casey’s General Stores has an average rating of “Moderate Buy” and an average price target of $408.25.

Insider Transactions at Casey’s General Stores

In other news, insider Thomas P. Brennan, Jr. sold 3,000 shares of Casey’s General Stores stock in a transaction on Friday, September 6th. The shares were sold at an average price of $380.24, for a total transaction of $1,140,720.00. Following the transaction, the insider now directly owns 9,044 shares of the company’s stock, valued at $3,438,890.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Casey’s General Stores news, insider Thomas P. Brennan, Jr. sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $380.24, for a total transaction of $1,140,720.00. Following the sale, the insider now directly owns 9,044 shares in the company, valued at approximately $3,438,890.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Darren M. Rebelez sold 13,500 shares of the company’s stock in a transaction that occurred 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 owns 73,838 shares of the company’s stock, valued at $27,655,284.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.56% of the company’s stock.

Casey’s General Stores Price Performance

Shares of NASDAQ:CASY traded up $1.78 during midday trading on Thursday, reaching $410.89. The company’s stock had a trading volume of 21,745 shares, compared to its average volume of 268,065. The business’s fifty day simple moving average is $385.38 and its 200-day simple moving average is $368.36. The company has a market capitalization of $15.25 billion, a P/E ratio of 29.78 and a beta of 0.79. 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, Inc. has a fifty-two week low of $266.56 and a fifty-two week high of $420.27.

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, beating the consensus estimate of $4.54 by $0.29. Casey’s General Stores had a net margin of 3.40% and a return on equity of 17.07%. The business had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same period in the prior year, the firm earned $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, equities research analysts expect that Casey’s General Stores, Inc. will post 14.24 EPS for the current fiscal year.

Casey’s General Stores Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders 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 0.49%. The ex-dividend date of this dividend is Friday, November 1st. Casey’s General Stores’s dividend payout ratio (DPR) is presently 14.56%.

About Casey’s General Stores

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.