Bank of Montreal Can Raises Stock Holdings in Casey’s General Stores, Inc. (NASDAQ:CASY)

Bank of Montreal Can raised its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 9.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,685 shares of the company’s stock after purchasing an additional 1,983 shares during the quarter. Bank of Montreal Can owned 0.06% of Casey’s General Stores worth $9,044,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CASY. Park Place Capital Corp purchased a new stake in Casey’s General Stores in the second quarter valued at approximately $31,000. Innealta Capital LLC acquired a new stake in shares of Casey’s General Stores in the second quarter worth $32,000. Rise Advisors LLC purchased a new position in shares of Casey’s General Stores during the first quarter worth $30,000. Advisors Asset Management Inc. purchased a new position in shares of Casey’s General Stores during the first quarter worth $32,000. Finally, Bank & Trust Co acquired a new position in Casey’s General Stores during the second quarter valued at $40,000. 85.63% of the stock is owned by institutional investors and hedge funds.

Casey’s General Stores Stock Down 0.1 %

CASY stock opened at $373.31 on Monday. Casey’s General Stores, Inc. has a 52 week low of $260.13 and a 52 week high of $401.07. 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 firm has a 50-day simple moving average of $373.77 and a 200-day simple moving average of $350.65. The stock has a market capitalization of $13.85 billion, a P/E ratio of 27.80 and a beta of 0.80.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Wednesday, September 4th. The company reported $4.83 EPS for the quarter, beating analysts’ consensus estimates of $4.54 by $0.29. The business had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Casey’s General Stores had a return on equity of 17.07% and a net margin of 3.40%. The business’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.52 earnings per share. Equities analysts forecast 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. Shareholders of record on Friday, November 1st will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $2.00 annualized dividend and a yield of 0.54%. Casey’s General Stores’s dividend payout ratio (DPR) is presently 14.89%.

Insider Transactions at Casey’s General Stores

In other Casey’s General Stores news, Director Mike Spanos purchased 267 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were purchased at an average cost of $376.18 per share, with a total value of $100,440.06. Following the completion of the purchase, the director now owns 2,594 shares in the company, valued at approximately $975,810.92. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Casey’s General Stores news, insider Thomas P. Brennan, Jr. sold 3,000 shares of the firm’s stock in a transaction 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 directly owns 9,044 shares of the company’s stock, valued at approximately $3,438,890.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mike Spanos purchased 267 shares of Casey’s General Stores stock in a transaction dated Wednesday, September 18th. The shares were bought at an average price of $376.18 per share, for a total transaction of $100,440.06. Following the acquisition, the director now owns 2,594 shares in the company, valued at $975,810.92. The disclosure for this purchase can be found here. Insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CASY shares. Melius Research assumed coverage on Casey’s General Stores in a research report on Monday, September 23rd. They set a “buy” rating and a $435.00 price target on the stock. Jefferies Financial Group lifted their price target on Casey’s General Stores from $342.00 to $445.00 and gave the company a “buy” rating in a research report on Wednesday, June 12th. Benchmark restated a “buy” rating and issued a $410.00 price objective on shares of Casey’s General Stores in a research report on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Casey’s General Stores from $420.00 to $444.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, JPMorgan Chase & Co. downgraded shares of Casey’s General Stores from a “neutral” rating to an “underweight” rating and increased their price target for the stock from $300.00 to $337.00 in a report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $407.64.

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.