Trust Point Inc. Acquires Shares of 1,375 Casey’s General Stores, Inc. (NASDAQ:CASY)

Trust Point Inc. bought a new position in Casey’s General Stores, Inc. (NASDAQ:CASY) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,375 shares of the company’s stock, valued at approximately $545,000.

A number of other institutional investors have also modified their holdings of the stock. International Assets Investment Management LLC bought a new stake in Casey’s General Stores in the third quarter valued at about $959,880,000. Franklin Resources Inc. grew its position in shares of Casey’s General Stores by 49.9% in the 3rd quarter. Franklin Resources Inc. now owns 524,237 shares of the company’s stock worth $204,861,000 after acquiring an additional 174,586 shares in the last quarter. Benjamin Edwards Inc. grew its position in shares of Casey’s General Stores by 1,819.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 130,291 shares of the company’s stock worth $48,959,000 after acquiring an additional 123,502 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Casey’s General Stores by 281.4% in the 3rd quarter. Wellington Management Group LLP now owns 164,656 shares of the company’s stock valued at $61,863,000 after acquiring an additional 121,488 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Casey’s General Stores by 18.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 758,804 shares of the company’s stock valued at $285,090,000 after acquiring an additional 119,350 shares in the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. BMO Capital Markets reaffirmed a “market perform” rating and issued a $450.00 price objective (up previously from $400.00) on shares of Casey’s General Stores in a report on Wednesday, December 18th. Evercore ISI boosted their price objective on shares of Casey’s General Stores from $460.00 to $470.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Gordon Haskett assumed coverage on shares of Casey’s General Stores in a research note on Monday, November 4th. They set a “hold” rating and a $400.00 price objective on the stock. StockNews.com downgraded Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 13th. Finally, Royal Bank of Canada raised their price target on Casey’s General Stores from $403.00 to $428.00 and gave the stock a “sector perform” rating in a report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Casey’s General Stores has an average rating of “Moderate Buy” and an average target price of $424.00.

Casey’s General Stores Stock Up 0.3 %

Shares of Casey’s General Stores stock opened at $420.99 on Wednesday. Casey’s General Stores, Inc. has a 1-year low of $269.50 and a 1-year high of $439.68. The company has a market capitalization of $15.63 billion, a P/E ratio of 29.34, a PEG ratio of 2.40 and a beta of 0.83. The business’s fifty day moving average price is $408.16 and its two-hundred day moving average price is $392.50. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.88 and a quick ratio of 0.49.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Monday, December 9th. The company reported $4.85 earnings per share for the quarter, topping the consensus estimate of $4.29 by $0.56. The business had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $4.03 billion. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.24 earnings per share. As a group, research analysts forecast that Casey’s General Stores, Inc. will post 13.94 EPS for the current year.

Casey’s General Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 17th. Investors of record on Monday, February 3rd will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, February 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.48%. Casey’s General Stores’s dividend payout ratio is presently 13.94%.

Insider Buying and Selling

In other news, insider Katrina S. Lindsey sold 450 shares of Casey’s General Stores stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $427.13, for a total transaction of $192,208.50. Following the transaction, the insider now directly owns 2,247 shares in the company, valued at approximately $959,761.11. This trade represents a 16.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mike Spanos acquired 500 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was purchased at an average price of $396.76 per share, with a total value of $198,380.00. Following the acquisition, the director now owns 3,097 shares of the company’s stock, valued at approximately $1,228,765.72. This trade 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 corporate 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.