Covenant Partners LLC Acquires 40 Shares of Casey’s General Stores, Inc. (NASDAQ:CASY)

Covenant Partners LLC grew its holdings in Casey’s General Stores, Inc. (NASDAQ:CASY) by 5.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 791 shares of the company’s stock after acquiring an additional 40 shares during the quarter. Covenant Partners LLC’s holdings in Casey’s General Stores were worth $297,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Park Place Capital Corp acquired a new stake in Casey’s General Stores during the 2nd quarter worth approximately $31,000. Advisors Asset Management Inc. acquired a new stake in shares of Casey’s General Stores during the first quarter worth $32,000. Innealta Capital LLC bought a new stake in Casey’s General Stores in the 2nd quarter valued at $32,000. Bank & Trust Co acquired a new position in Casey’s General Stores in the 2nd quarter worth $40,000. Finally, V Square Quantitative Management LLC raised its stake in shares of Casey’s General Stores by 22.5% in the 3rd quarter. V Square Quantitative Management LLC now owns 158 shares of the company’s stock valued at $59,000 after purchasing an additional 29 shares during the period. Institutional investors own 85.63% of the company’s stock.

Insider Activity

In other Casey’s General Stores news, CEO Darren M. Rebelez sold 13,500 shares of Casey’s General Stores stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $374.54, for a total value of $5,056,290.00. Following the completion of the sale, the chief executive officer now owns 73,838 shares in the company, valued at $27,655,284.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Casey’s General Stores news, CEO Darren M. Rebelez sold 13,500 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $374.54, for a total value of $5,056,290.00. Following the transaction, the chief executive officer now directly owns 73,838 shares of the company’s stock, valued at $27,655,284.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas P. Brennan, Jr. sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $380.24, for a total transaction of $1,140,720.00. Following the transaction, the insider now owns 9,044 shares of the company’s stock, valued at approximately $3,438,890.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by company insiders.

Casey’s General Stores Stock Performance

CASY traded up $4.51 on Friday, reaching $391.13. The company had a trading volume of 144,956 shares, compared to its average volume of 272,074. The stock has a market cap of $14.52 billion, a P/E ratio of 29.12 and a beta of 0.80. 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 $266.55 and a fifty-two week high of $401.07. The company’s fifty day moving average is $376.38 and its 200 day moving average is $359.85.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Wednesday, September 4th. The company reported $4.83 earnings per share for the quarter, topping analysts’ consensus estimates of $4.54 by $0.29. The company had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.15 billion. Casey’s General Stores had a return on equity of 17.07% and a net margin of 3.40%. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the company earned $4.52 earnings per share. As a group, analysts predict that Casey’s General Stores, Inc. will post 14.01 earnings per share for the current fiscal year.

Casey’s General Stores Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be given a $0.50 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.51%. Casey’s General Stores’s payout ratio is presently 14.89%.

Wall Street Analyst Weigh In

CASY has been the subject of several recent research reports. Melius Research began coverage on Casey’s General Stores in a research report on Monday, September 23rd. They set a “buy” rating and a $435.00 price objective for the company. Northcoast Research upgraded shares of Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $410.00 price objective for the company in a research note on Thursday, July 11th. Benchmark reiterated a “buy” rating and set a $410.00 target price on shares of Casey’s General Stores in a report on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft raised their price target on Casey’s General Stores from $420.00 to $444.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, JPMorgan Chase & Co. downgraded Casey’s General Stores from a “neutral” rating to an “underweight” rating and increased their price objective for the company from $300.00 to $337.00 in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Casey’s General Stores has an average rating of “Moderate Buy” and a consensus target price of $408.09.

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.