Genesis Private Wealth LLC Makes New $204,000 Investment in Casey’s General Stores, Inc. (NASDAQ:CASY)

Genesis Private Wealth LLC bought a new position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 514 shares of the company’s stock, valued at approximately $204,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Soros Capital Management LLC lifted its holdings in Casey’s General Stores by 1,825.6% during the third quarter. Soros Capital Management LLC now owns 27,632 shares of the company’s stock worth $10,382,000 after acquiring an additional 26,197 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Casey’s General Stores by 9.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 14,725 shares of the company’s stock worth $5,532,000 after purchasing an additional 1,332 shares during the period. Lord Abbett & CO. LLC purchased a new position in shares of Casey’s General Stores in the 3rd quarter worth about $23,294,000. JPMorgan Chase & Co. grew its position in Casey’s General Stores by 18.7% during the third quarter. JPMorgan Chase & Co. now owns 758,804 shares of the company’s stock valued at $285,090,000 after buying an additional 119,350 shares during the period. Finally, FMR LLC increased its holdings in Casey’s General Stores by 3.8% during the third quarter. FMR LLC now owns 1,046,830 shares of the company’s stock worth $393,305,000 after buying an additional 38,226 shares during the last quarter. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, Director Mike Spanos bought 500 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was bought at an average cost of $396.76 per share, for a total transaction of $198,380.00. Following the completion of the transaction, the director now owns 3,097 shares of the company’s stock, valued at approximately $1,228,765.72. The trade was a 19.25 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Katrina S. Lindsey sold 450 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $427.13, for a total value of $192,208.50. Following the completion of the transaction, the insider now directly owns 2,247 shares in the company, valued at approximately $959,761.11. This represents a 16.69 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.56% of the company’s stock.

Casey’s General Stores Stock Down 0.3 %

CASY opened at $401.21 on Thursday. The firm has a market capitalization of $14.89 billion, a P/E ratio of 27.96, a price-to-earnings-growth ratio of 2.23 and a beta of 0.82. Casey’s General Stores, Inc. has a one year low of $268.07 and a one year high of $439.68. The company has a fifty day moving average price of $407.65 and a 200-day moving average price of $389.61. 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 announced its earnings results on Monday, December 9th. The company reported $4.85 earnings per share for the quarter, topping analysts’ consensus estimates of $4.29 by $0.56. The business had revenue of $3.95 billion for the quarter, compared to analyst estimates of $4.03 billion. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the company earned $4.24 EPS. Equities research 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 Monday, February 17th. Shareholders of record on Monday, February 3rd will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.00 annualized dividend and a yield of 0.50%. Casey’s General Stores’s payout ratio is presently 13.94%.

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.