MAI Capital Management Has $851,000 Stock Position in Casey’s General Stores, Inc. $CASY

MAI Capital Management boosted its holdings in Casey’s General Stores, Inc. (NASDAQ:CASY) by 286.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,506 shares of the company’s stock after purchasing an additional 1,116 shares during the quarter. MAI Capital Management’s holdings in Casey’s General Stores were worth $851,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Westside Investment Management Inc. increased its stake in shares of Casey’s General Stores by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 46 shares of the company’s stock valued at $26,000 after acquiring an additional 23 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new stake in Casey’s General Stores in the third quarter worth $33,000. Nvwm LLC bought a new stake in Casey’s General Stores in the second quarter valued at $32,000. Cornerstone Planning Group LLC increased its stake in Casey’s General Stores by 490.9% in the third quarter. Cornerstone Planning Group LLC now owns 65 shares of the company’s stock valued at $34,000 after purchasing an additional 54 shares in the last quarter. Finally, Osterweis Capital Management Inc. acquired a new position in shares of Casey’s General Stores during the second quarter valued at about $45,000. 85.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on CASY. Zacks Research downgraded Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 23rd. KeyCorp reissued an “overweight” rating and issued a $700.00 price objective on shares of Casey’s General Stores in a research note on Thursday, February 12th. UBS Group restated a “neutral” rating on shares of Casey’s General Stores in a report on Thursday, December 11th. Evercore set a $665.00 target price on Casey’s General Stores and gave the stock an “outperform” rating in a report on Tuesday, February 24th. Finally, Deutsche Bank Aktiengesellschaft set a $688.00 price target on shares of Casey’s General Stores in a research report on Thursday, January 8th. Eight equities research analysts have rated the stock with a Buy rating and six have issued a Hold 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 $621.00.

Casey’s General Stores Trading Up 0.5%

Shares of Casey’s General Stores stock opened at $685.59 on Monday. The company has a market capitalization of $25.41 billion, a P/E ratio of 42.16, a price-to-earnings-growth ratio of 2.42 and a beta of 0.65. The stock has a fifty day simple moving average of $621.30 and a 200 day simple moving average of $568.80. Casey’s General Stores, Inc. has a 12-month low of $372.08 and a 12-month high of $690.00. The company has a current ratio of 1.05, a quick ratio of 0.65 and a debt-to-equity ratio of 0.62.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Tuesday, December 9th. The company reported $5.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.92 by $0.61. Casey’s General Stores had a net margin of 3.58% and a return on equity of 16.89%. The firm had revenue of $4.51 billion for the quarter, compared to the consensus estimate of $4.51 billion. During the same period in the previous year, the firm earned $4.85 EPS. The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey’s General Stores Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Sunday, February 1st were issued a dividend of $0.57 per share. The ex-dividend date was Friday, January 30th. This represents a $2.28 annualized dividend and a yield of 0.3%. Casey’s General Stores’s payout ratio is 14.02%.

Insider Transactions at Casey’s General Stores

In other news, Director Moats Maria Castanon acquired 300 shares of Casey’s General Stores stock in a transaction on Monday, January 5th. The stock was acquired at an average cost of $554.66 per share, with a total value of $166,398.00. Following the transaction, the director owned 803 shares of the company’s stock, valued at approximately $445,391.98. This trade represents a 59.64% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.54% of the company’s stock.

About Casey’s General Stores

Casey’s General Stores, Inc (NASDAQ: CASY) is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.