The Manufacturers Life Insurance Company boosted its holdings in Casey's General Stores Inc (NASDAQ:CASY) by 12.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 63,496 shares of the company’s stock after buying an additional 7,083 shares during the quarter. The Manufacturers Life Insurance Company owned 0.17% of Casey's General Stores worth $7,107,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Janus Henderson Group PLC lifted its position in Casey's General Stores by 20.4% during the 3rd quarter. Janus Henderson Group PLC now owns 1,825,662 shares of the company’s stock worth $199,819,000 after acquiring an additional 309,263 shares during the last quarter. Fiduciary Management Inc. WI increased its holdings in shares of Casey's General Stores by 73.4% during the 3rd quarter. Fiduciary Management Inc. WI now owns 460,686 shares of the company’s stock worth $50,422,000 after purchasing an additional 194,935 shares during the period. Brown Advisory Inc. increased its holdings in shares of Casey's General Stores by 34.9% during the 3rd quarter. Brown Advisory Inc. now owns 513,007 shares of the company’s stock worth $56,149,000 after purchasing an additional 132,694 shares during the period. Frontier Capital Management Co. LLC bought a new position in shares of Casey's General Stores during the 4th quarter worth about $10,124,000. Finally, Advisory Research Inc. increased its holdings in shares of Casey's General Stores by 14.8% during the 4th quarter. Advisory Research Inc. now owns 516,625 shares of the company’s stock worth $57,831,000 after purchasing an additional 66,457 shares during the period. Hedge funds and other institutional investors own 98.04% of the company’s stock.
In related news, Director Cara Kay Heiden purchased 4,000 shares of the business’s stock in a transaction that occurred on Thursday, March 8th. The shares were bought at an average cost of $109.77 per share, with a total value of $439,080.00. Following the acquisition, the director now owns 5,043 shares of the company’s stock, valued at $553,570.11. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David K. Lenhardt purchased 2,300 shares of the business’s stock in a transaction that occurred on Tuesday, March 13th. The stock was bought at an average cost of $111.24 per share, for a total transaction of $255,852.00. Following the completion of the acquisition, the director now directly owns 2,300 shares in the company, valued at approximately $255,852. The disclosure for this purchase can be found here. Insiders own 1.30% of the company’s stock.
A number of brokerages have recently issued reports on CASY. BidaskClub upgraded shares of Casey's General Stores from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 6th. BMO Capital Markets set a $122.00 price objective on shares of Casey's General Stores and gave the company a “hold” rating in a report on Wednesday, March 7th. Royal Bank of Canada reaffirmed a “hold” rating on shares of Casey's General Stores in a research note on Friday, December 8th. Wells Fargo & Co increased their price objective on shares of Casey's General Stores from $105.00 to $118.00 and gave the stock a “market perform” rating in a research report on Thursday, January 4th. Finally, Raymond James Financial downgraded shares of Casey's General Stores from an “outperform” rating to a “mkt perform” rating in a research report on Tuesday, December 12th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $123.18.
Shares of Casey's General Stores Inc (NASDAQ CASY) traded up $0.18 during midday trading on Wednesday, hitting $111.57. 453,952 shares of the stock were exchanged, compared to its average volume of 460,817. The firm has a market cap of $4,196.91, a P/E ratio of 13.00, a P/E/G ratio of 2.19 and a beta of 0.58. Casey's General Stores Inc has a 1 year low of $99.76 and a 1 year high of $128.51. The company has a quick ratio of 0.48, a current ratio of 1.03 and a debt-to-equity ratio of 0.98.
Casey's General Stores (NASDAQ:CASY) last released its earnings results on Wednesday, March 7th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.14). The company had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.05 billion. Casey's General Stores had a net margin of 4.03% and a return on equity of 12.70%. The firm’s revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.58 EPS. sell-side analysts expect that Casey's General Stores Inc will post 4.07 earnings per share for the current year.
Casey's General Stores announced that its Board of Directors has initiated a share repurchase program on Wednesday, March 7th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Tuesday, May 1st will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, April 30th. This represents a $1.04 dividend on an annualized basis and a yield of 0.93%. Casey's General Stores’s dividend payout ratio (DPR) is presently 12.12%.
ILLEGAL ACTIVITY NOTICE: This news story was originally posted by The Lincolnian Online and is the property of of The Lincolnian Online. If you are viewing this news story on another publication, it was stolen and republished in violation of United States and international copyright laws. The correct version of this news story can be viewed at https://www.thelincolnianonline.com/2018/03/14/the-manufacturers-life-insurance-company-boosts-stake-in-caseys-general-stores-inc-casy.html.
Casey's General Stores Company Profile
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.
Receive News & Ratings for Casey's General Stores Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Casey's General Stores and related companies with MarketBeat.com's FREE daily email newsletter.