CIBC Asset Management Inc Has $405,000 Position in Casey’s General Stores, Inc. (NASDAQ:CASY)

CIBC Asset Management Inc raised its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 3.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,078 shares of the company’s stock after buying an additional 34 shares during the period. CIBC Asset Management Inc’s holdings in Casey’s General Stores were worth $405,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. 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 valued at $1,504,000 after buying an additional 2,113 shares during the period. Nicola Wealth Management LTD. lifted its stake in shares of Casey’s General Stores by 12.9% in the 3rd quarter. Nicola Wealth Management LTD. now owns 62,100 shares of the company’s stock valued at $23,332,000 after purchasing an additional 7,100 shares during the last quarter. Zions Bancorporation N.A. lifted its stake in shares of Casey’s General Stores by 18.4% in the 3rd quarter. Zions Bancorporation N.A. now owns 6,519 shares of the company’s stock valued at $2,449,000 after purchasing an additional 1,011 shares during the last quarter. KBC Group NV increased its holdings in shares of Casey’s General Stores by 7.5% during the 3rd quarter. KBC Group NV now owns 945 shares of the company’s stock valued at $355,000 after acquiring an additional 66 shares during the last quarter. Finally, Huntington National Bank raised its stake in shares of Casey’s General Stores by 32.9% in the 3rd quarter. Huntington National Bank now owns 650 shares of the company’s stock valued at $244,000 after acquiring an additional 161 shares in the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Evercore ISI boosted their price objective on shares of Casey’s General Stores from $435.00 to $440.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Benchmark reissued a “buy” rating and set a $410.00 target price on shares of Casey’s General Stores in a research report on Tuesday, September 10th. Royal Bank of Canada raised their price target on Casey’s General Stores from $393.00 to $403.00 and gave the company a “sector perform” rating in a research report on Thursday, September 5th. JPMorgan Chase & Co. cut Casey’s General Stores from a “neutral” rating to an “underweight” rating and boosted their price objective for the stock from $300.00 to $337.00 in a research report on Thursday, September 19th. Finally, Gordon Haskett started coverage on Casey’s General Stores in a research note on Monday, November 4th. They set a “hold” rating and a $400.00 target price for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $408.25.

Insider Buying and Selling

In related news, insider Thomas P. Brennan, Jr. sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $380.24, for a total transaction of $1,140,720.00. Following the completion of the transaction, the insider now owns 9,044 shares in the company, valued at $3,438,890.56. This trade represents a 24.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mike Spanos purchased 267 shares of the stock in a transaction 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 transaction, the director now directly owns 2,594 shares of the company’s stock, valued at approximately $975,810.92. This trade represents a 11.47 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.56% of the company’s stock.

Casey’s General Stores Trading Up 0.5 %

Casey’s General Stores stock opened at $416.11 on Friday. The business has a 50 day moving average price of $389.42 and a two-hundred day moving average price of $371.78. The company has a quick ratio of 0.44, a current ratio of 0.84 and a debt-to-equity ratio of 0.44. Casey’s General Stores, Inc. has a 12 month low of $266.56 and a 12 month high of $420.27. The stock has a market cap of $15.45 billion, a price-to-earnings ratio of 30.28 and a beta of 0.79.

Casey’s General Stores (NASDAQ:CASY) last issued 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 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%. Casey’s General Stores’s revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the company posted $4.52 earnings per share. As a group, equities analysts forecast that Casey’s General Stores, Inc. will post 14.24 EPS for the current year.

Casey’s General Stores Dividend Announcement

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

About Casey’s General Stores

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.