Arrowstreet Capital Limited Partnership Invests $8.18 Million in Casey’s General Stores, Inc. $CASY

Arrowstreet Capital Limited Partnership bought a new stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) during the second quarter, Holdings Channel.com reports. The fund bought 16,023 shares of the company’s stock, valued at approximately $8,176,000.

A number of other institutional investors also recently bought and sold shares of the stock. Wellington Management Group LLP boosted its position in Casey’s General Stores by 190.6% during the 1st quarter. Wellington Management Group LLP now owns 1,244,311 shares of the company’s stock valued at $540,081,000 after acquiring an additional 816,110 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Casey’s General Stores by 0.3% in the 2nd quarter. Franklin Resources Inc. now owns 708,893 shares of the company’s stock worth $361,727,000 after acquiring an additional 2,467 shares in the last quarter. Raymond James Financial Inc. lifted its stake in shares of Casey’s General Stores by 8.9% in the 1st quarter. Raymond James Financial Inc. now owns 649,815 shares of the company’s stock valued at $282,045,000 after purchasing an additional 52,939 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Casey’s General Stores by 9.1% during the second quarter. Envestnet Asset Management Inc. now owns 448,919 shares of the company’s stock valued at $229,070,000 after purchasing an additional 37,625 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Casey’s General Stores during the 2nd quarter valued at $210,151,000. 85.63% of the stock is owned by institutional investors.

Insider Activity at Casey’s General Stores

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 completion of the sale, the insider directly owned 7,993 shares in the company, valued at $4,439,312.20. The trade was a 30.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.54% of the stock is owned by corporate insiders.

Casey’s General Stores Trading Down 5.3%

NASDAQ:CASY opened at $533.18 on Thursday. Casey’s General Stores, Inc. has a 52 week low of $372.08 and a 52 week high of $573.76. The company’s 50 day moving average price is $548.65 and its 200-day moving average price is $524.05. The company has a quick ratio of 0.61, a current ratio of 1.03 and a debt-to-equity ratio of 0.65. The stock has a market cap of $19.82 billion, a price-to-earnings ratio of 32.79 and a beta of 0.65.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings results on Tuesday, December 9th. The company reported $5.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.92 by $0.61. Casey’s General Stores had a return on equity of 17.24% and a net margin of 3.58%.The firm had revenue of $4.51 billion for the quarter, compared to the consensus estimate of $4.51 billion. During the same period in the prior year, the company posted $4.85 earnings per share. The company’s quarterly revenue was up 14.2% on a year-over-year basis. On average, equities research analysts forecast that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey’s General Stores Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Sunday, February 1st will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, January 30th. Casey’s General Stores’s dividend payout ratio (DPR) is presently 14.63%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CASY. BMO Capital Markets lifted their price target on shares of Casey’s General Stores from $515.00 to $540.00 and gave the company a “market perform” rating in a research report on Wednesday, September 10th. UBS Group began coverage on shares of Casey’s General Stores in a report on Wednesday, December 3rd. They set a “neutral” rating and a $600.00 target price for the company. Royal Bank Of Canada boosted their price target on Casey’s General Stores from $570.00 to $591.00 and gave the stock a “sector perform” rating in a research report on Wednesday. Stephens raised their price objective on Casey’s General Stores from $570.00 to $600.00 and gave the company an “overweight” rating in a research report on Wednesday, December 3rd. Finally, Wells Fargo & Company lifted their price objective on Casey’s General Stores from $610.00 to $625.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $585.67.

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.