ClariVest Asset Management LLC Acquires 2,400 Shares of Casey’s General Stores Inc. (CASY)
ClariVest Asset Management LLC raised its position in Casey’s General Stores Inc. (NASDAQ:CASY) by 15.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,694 shares of the company’s stock after buying an additional 2,400 shares during the period. ClariVest Asset Management LLC’s holdings in Casey’s General Stores were worth $2,327,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of CASY. LMR Partners LLP acquired a new position in shares of Casey’s General Stores during the second quarter worth approximately $3,464,000. Redwood Investments LLC boosted its position in Casey’s General Stores by 25.7% in the second quarter. Redwood Investments LLC now owns 32,326 shares of the company’s stock worth $4,251,000 after buying an additional 6,618 shares in the last quarter. Capital Fund Management S.A. boosted its position in Casey’s General Stores by 73.8% in the second quarter. Capital Fund Management S.A. now owns 74,632 shares of the company’s stock worth $9,815,000 after buying an additional 31,693 shares in the last quarter. Calamos Advisors LLC purchased a new position in Casey’s General Stores during the second quarter worth approximately $30,285,000. Finally, Calamos Wealth Management LLC purchased a new position in Casey’s General Stores during the second quarter worth approximately $205,000. 83.53% of the stock is owned by institutional investors and hedge funds.
Casey’s General Stores Inc. (NASDAQ:CASY) traded up 0.53% during midday trading on Monday, hitting $117.57. 188,388 shares of the stock traded hands. Casey’s General Stores Inc. has a 12-month low of $98.80 and a 12-month high of $136.22. The company’s 50-day moving average is $123.52 and its 200 day moving average is $121.70. The firm has a market cap of $4.61 billion, a P/E ratio of 20.06 and a beta of 0.51.
Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Tuesday, September 6th. The company reported $1.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.81 by $0.11. The company had revenue of $1.97 billion for the quarter. Casey’s General Stores had a return on equity of 21.62% and a net margin of 3.29%. Casey’s General Stores’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.57 earnings per share. On average, analysts anticipate that Casey’s General Stores Inc. will post $5.66 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Tuesday, November 1st will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.82%. The ex-dividend date is Friday, October 28th. Casey’s General Stores’s dividend payout ratio (DPR) is presently 16.38%.
A number of research firms recently commented on CASY. Jefferies Group set a $137.00 price target on shares of Casey’s General Stores and gave the stock a “hold” rating in a research note on Wednesday, September 7th. RBC Capital Markets reaffirmed an “outperform” rating and set a $145.00 price target (up from $139.00) on shares of Casey’s General Stores in a research note on Saturday, September 3rd. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Casey’s General Stores in a research note on Thursday, September 8th. Deutsche Bank AG dropped their price target on shares of Casey’s General Stores from $141.00 to $135.00 and set a “buy” rating for the company in a research note on Monday, September 12th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $118.00 price target (up from $115.00) on shares of Casey’s General Stores in a research note on Saturday, September 10th. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $135.90.
In other Casey’s General Stores news, Director Richard A. Wilkey acquired 340 shares of the stock in a transaction dated Wednesday, September 21st. The stock was acquired at an average price of $117.80 per share, with a total value of $40,052.00. Following the completion of the purchase, the director now owns 15,000 shares in the company, valued at approximately $1,767,000. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.30% of the company’s stock.
About Casey’s General Stores
Casey’s General Stores, Inc and its subsidiaries, operate convenience stores under the name Casey’s General Store in approximately 10 Midwestern states, in Iowa, Missouri, and Illinois. The Company also operates approximately two stores selling primarily tobacco products. The stores carry a range of food, including freshly prepared foods such as pizza, donuts, and sandwiches, beverages, tobacco products, health and beauty aids, automotive products and other nonfood items.
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