Checchi Capital Advisers LLC Takes Position in Casey’s General Stores, Inc. $CASY

Checchi Capital Advisers LLC bought a new stake in Casey’s General Stores, Inc. (NASDAQ:CASY) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 396 shares of the company’s stock, valued at approximately $202,000.

Several other hedge funds also recently modified their holdings of the business. Penobscot Investment Management Company Inc. bought a new position in shares of Casey’s General Stores in the 2nd quarter valued at about $1,741,000. LGT Fund Management Co Ltd. boosted its stake in shares of Casey’s General Stores by 28.6% in the 2nd quarter. LGT Fund Management Co Ltd. now owns 4,500 shares of the company’s stock valued at $2,296,000 after purchasing an additional 1,000 shares during the last quarter. 111 Capital boosted its stake in shares of Casey’s General Stores by 198.1% in the 2nd quarter. 111 Capital now owns 2,832 shares of the company’s stock valued at $1,445,000 after purchasing an additional 1,882 shares during the last quarter. Hennessy Advisors Inc. bought a new position in shares of Casey’s General Stores in the 2nd quarter valued at about $11,226,000. Finally, QRG Capital Management Inc. boosted its stake in shares of Casey’s General Stores by 78.7% in the 2nd quarter. QRG Capital Management Inc. now owns 1,837 shares of the company’s stock valued at $937,000 after purchasing an additional 809 shares during the last quarter. Institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Stock Performance

Shares of CASY stock opened at $554.78 on Wednesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.61 and a current ratio of 1.03. The company has a market capitalization of $20.63 billion, a P/E ratio of 35.61 and a beta of 0.68. The company’s 50 day moving average price is $527.74 and its two-hundred day moving average price is $490.89. Casey’s General Stores, Inc. has a 52 week low of $372.08 and a 52 week high of $571.57.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Monday, September 8th. The company reported $5.77 EPS for the quarter, topping the consensus estimate of $5.02 by $0.75. The firm had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.47 billion. Casey’s General Stores had a net margin of 3.54% and a return on equity of 16.73%. The business’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period last year, the company posted $4.83 EPS. On average, analysts expect that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey’s General Stores Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Saturday, November 1st will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 0.4%. The ex-dividend date is Friday, October 31st. Casey’s General Stores’s dividend payout ratio (DPR) is 14.63%.

Insider Buying and Selling

In other news, insider Chad Michael Frazell sold 3,487 shares of Casey’s General Stores stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $555.40, for a total value of $1,936,679.80. Following the sale, the insider directly owned 7,993 shares in the company, valued at $4,439,312.20. This trade represents a 30.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CASY shares. BMO Capital Markets lifted their price objective on shares of Casey’s General Stores from $515.00 to $540.00 and gave the stock a “market perform” rating in a research note on Wednesday, September 10th. Stephens reissued an “overweight” rating and set a $530.00 price objective on shares of Casey’s General Stores in a research note on Tuesday, September 9th. Royal Bank Of Canada lifted their price objective on shares of Casey’s General Stores from $468.00 to $542.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 9th. Wall Street Zen raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research note on Saturday, June 14th. Finally, The Goldman Sachs Group lifted their price objective on shares of Casey’s General Stores from $450.00 to $490.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 10th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $529.10.

Casey’s General Stores Profile

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.