Wellington Management Group LLP Has $61.86 Million Position in Casey’s General Stores, Inc. (NASDAQ:CASY)

Wellington Management Group LLP boosted its holdings in Casey’s General Stores, Inc. (NASDAQ:CASY) by 281.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 164,656 shares of the company’s stock after purchasing an additional 121,488 shares during the quarter. Wellington Management Group LLP owned about 0.44% of Casey’s General Stores worth $61,863,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CASY. Innealta Capital LLC acquired a new stake in Casey’s General Stores in the 2nd quarter valued at $32,000. Venturi Wealth Management LLC boosted its holdings in 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 acquiring an additional 113 shares during the last quarter. V Square Quantitative Management LLC boosted its holdings in Casey’s General Stores by 22.5% during the 3rd quarter. V Square Quantitative Management LLC now owns 158 shares of the company’s stock worth $59,000 after acquiring an additional 29 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Casey’s General Stores during the 2nd quarter worth $68,000. Finally, Quarry LP purchased a new position in Casey’s General Stores during the 2nd quarter worth $72,000. Institutional investors and hedge funds own 85.63% of the company’s stock.

Insider Activity

In related news, Director Mike Spanos purchased 267 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were purchased at an average cost of $376.18 per share, for a total transaction of $100,440.06. Following the completion of the transaction, the director now directly owns 2,594 shares in the company, valued at approximately $975,810.92. This represents a 11.47 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.56% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Casey’s General Stores from $451.00 to $454.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Evercore ISI lifted their price objective on shares of Casey’s General Stores from $435.00 to $440.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. downgraded shares of Casey’s General Stores from a “neutral” rating to an “underweight” rating and lifted their price objective for the stock from $300.00 to $337.00 in a report on Thursday, September 19th. Benchmark reiterated a “buy” rating and set a $410.00 target price on shares of Casey’s General Stores in a research note on Tuesday, September 10th. Finally, Wells Fargo & Company lifted their target price on Casey’s General Stores from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $410.33.

Casey’s General Stores Trading Down 0.3 %

Shares of Casey’s General Stores stock opened at $416.86 on Wednesday. Casey’s General Stores, Inc. has a 52-week low of $266.56 and a 52-week high of $435.60. The stock’s 50-day simple moving average is $401.61 and its 200 day simple moving average is $380.19. The stock has a market capitalization of $15.47 billion, a P/E ratio of 30.34 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.44 and a current ratio of 0.84.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Monday, December 9th. The company reported $4.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.29 by $0.56. Casey’s General Stores had a return on equity of 17.07% and a net margin of 3.40%. The business had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $4.03 billion. During the same period in the previous year, the business posted $4.24 EPS. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. As a group, research analysts anticipate that Casey’s General Stores, Inc. will post 14.22 EPS for the current year.

Casey’s General Stores Announces Dividend

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