Primecap Management Co. CA Grows Stake in Casey’s General Stores, Inc. (NASDAQ:CASY)

Primecap Management Co. CA boosted its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 17.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 74,300 shares of the company’s stock after acquiring an additional 11,100 shares during the quarter. Primecap Management Co. CA owned 0.20% of Casey’s General Stores worth $27,915,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CASY. OneDigital Investment Advisors LLC boosted its stake in shares of Casey’s General Stores by 111.7% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,004 shares of the company’s stock worth $1,504,000 after acquiring an additional 2,113 shares during the last quarter. Aptus Capital Advisors LLC lifted its position in Casey’s General Stores by 15.2% during the third quarter. Aptus Capital Advisors LLC now owns 28,575 shares of the company’s stock valued at $10,736,000 after purchasing an additional 3,776 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in Casey’s General Stores by 24.0% during the third quarter. Janney Montgomery Scott LLC now owns 7,210 shares of the company’s stock valued at $2,709,000 after purchasing an additional 1,395 shares during the period. Bailard Inc. purchased a new stake in Casey’s General Stores in the second quarter worth about $1,021,000. Finally, Marks Group Wealth Management Inc bought a new position in shares of Casey’s General Stores in the third quarter worth about $5,489,000. Institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Trading Up 0.5 %

Shares of CASY opened at $416.11 on Friday. The stock has a market capitalization of $15.45 billion, a PE ratio of 30.28 and a beta of 0.79. The company’s fifty day moving average is $389.42 and its 200 day moving average is $371.78. 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, Inc. has a fifty-two week low of $266.56 and a fifty-two week high of $420.27.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Wednesday, September 4th. The company reported $4.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.54 by $0.29. The firm had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.15 billion. Casey’s General Stores had a net margin of 3.40% and a return on equity of 17.07%. The business’s revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the company earned $4.52 EPS. Sell-side analysts expect that Casey’s General Stores, Inc. will post 14.24 earnings per share for the current fiscal year.

Casey’s General Stores Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Friday, November 1st. Casey’s General Stores’s dividend payout ratio (DPR) is 14.56%.

Insider Activity

In other Casey’s General Stores news, Director Mike Spanos bought 267 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was acquired at an average price 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 of the company’s stock, valued at approximately $975,810.92. This represents a 11.47 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas P. Brennan, Jr. sold 3,000 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $380.24, for a total value of $1,140,720.00. Following the completion of the sale, the insider now owns 9,044 shares in the company, valued at approximately $3,438,890.56. The trade was a 24.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CASY shares. Royal Bank of Canada increased their target price on shares of Casey’s General Stores from $393.00 to $403.00 and gave the stock a “sector perform” rating in a report on Thursday, September 5th. JPMorgan Chase & Co. downgraded shares of Casey’s General Stores from a “neutral” rating to an “underweight” rating and raised their price objective for the company from $300.00 to $337.00 in a research report on Thursday, September 19th. Wells Fargo & Company upped their target price on shares of Casey’s General Stores from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Gordon Haskett began coverage on Casey’s General Stores in a research report on Monday, November 4th. They issued a “hold” rating and a $400.00 price objective on the stock. Finally, StockNews.com lowered Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Casey’s General Stores presently has an average rating of “Moderate Buy” and a consensus target price of $408.25.

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.