Wellington Management Group LLP Raises Stock Holdings in Casey’s General Stores, Inc. (NASDAQ:CASY)

Wellington Management Group LLP lifted its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 281.4% in the 3rd quarter, Holdings Channel reports. The firm owned 164,656 shares of the company’s stock after acquiring an additional 121,488 shares during the period. Wellington Management Group LLP’s holdings in Casey’s General Stores were worth $61,863,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of CASY. SG Americas Securities LLC purchased a new position in shares of Casey’s General Stores during the second quarter worth about $2,183,000. Sequoia Financial Advisors LLC boosted its stake in Casey’s General Stores by 19.5% in the second quarter. Sequoia Financial Advisors LLC now owns 2,215 shares of the company’s stock worth $845,000 after buying an additional 362 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in Casey’s General Stores by 80.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 2,800 shares of the company’s stock worth $1,068,000 after buying an additional 1,245 shares in the last quarter. Oak Ridge Investments LLC purchased a new stake in Casey’s General Stores in the second quarter worth approximately $658,000. Finally, AdvisorNet Financial Inc boosted its stake in Casey’s General Stores by 10.1% in the second quarter. AdvisorNet Financial Inc now owns 317 shares of the company’s stock worth $121,000 after buying an additional 29 shares in the last quarter. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Price Performance

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

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

Casey’s General Stores Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 17th. Investors of record on Monday, February 3rd will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend 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 14.56%.

Wall Street Analyst Weigh In

Several analysts have issued reports on CASY shares. Wells Fargo & Company upped 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. Melius Research started coverage on Casey’s General Stores in a research note on Monday, September 23rd. They issued a “buy” rating and a $435.00 target price for the company. Gordon Haskett started coverage on Casey’s General Stores in a research note on Monday, November 4th. They issued a “hold” rating and a $400.00 target price for the company. Benchmark reaffirmed a “buy” rating and issued a $410.00 target price on shares of Casey’s General Stores in a research note on Tuesday, September 10th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Casey’s General Stores from $451.00 to $454.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Casey’s General Stores has an average rating of “Moderate Buy” and an average target price of $410.33.

Insider Activity at Casey’s General Stores

In other Casey’s General Stores news, Director Mike Spanos bought 267 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was bought at an average price of $376.18 per share, for a total transaction of $100,440.06. Following the completion of the acquisition, the director now directly owns 2,594 shares in the company, valued at $975,810.92. The trade was a 11.47 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.56% of the stock is owned by corporate insiders.

Casey’s General Stores Company Profile

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.