Diversify Wealth Management LLC Reduces Stake in Casey’s General Stores, Inc. (NASDAQ:CASY)

Diversify Wealth Management LLC reduced its position in Casey’s General Stores, Inc. (NASDAQ:CASY) by 7.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,960 shares of the company’s stock after selling 155 shares during the period. Diversify Wealth Management LLC’s holdings in Casey’s General Stores were worth $766,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CASY. International Assets Investment Management LLC purchased a new position in Casey’s General Stores in the 3rd quarter valued at approximately $959,880,000. Millennium Management LLC raised its holdings in shares of Casey’s General Stores by 3,846.1% in the second quarter. Millennium Management LLC now owns 172,320 shares of the company’s stock worth $65,750,000 after acquiring an additional 176,920 shares during the last quarter. DAVENPORT & Co LLC raised its holdings in shares of Casey’s General Stores by 11,242.6% in the first quarter. DAVENPORT & Co LLC now owns 107,641 shares of the company’s stock worth $34,284,000 after acquiring an additional 106,692 shares during the last quarter. Scout Investments Inc. raised its holdings in shares of Casey’s General Stores by 138.2% in the first quarter. Scout Investments Inc. now owns 179,051 shares of the company’s stock worth $56,467,000 after acquiring an additional 103,879 shares during the last quarter. Finally, Bridges Investment Management Inc. raised its holdings in shares of Casey’s General Stores by 110.0% in the second quarter. Bridges Investment Management Inc. now owns 177,190 shares of the company’s stock worth $67,609,000 after acquiring an additional 92,813 shares during the last quarter. 85.63% of the stock is owned by hedge funds and other institutional investors.

Casey’s General Stores Stock Performance

Casey’s General Stores stock opened at $398.31 on Thursday. The stock has a fifty day moving average price of $377.61 and a 200 day moving average price of $362.04. Casey’s General Stores, Inc. has a 52 week low of $266.56 and a 52 week high of $401.17. The company has a current ratio of 0.84, a quick ratio of 0.44 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $14.78 billion, a P/E ratio of 28.99 and a beta of 0.80.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results on Wednesday, September 4th. The company reported $4.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.54 by $0.29. Casey’s General Stores had a return on equity of 17.07% and a net margin of 3.40%. The firm had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter in the previous year, the business earned $4.52 earnings per share. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. Equities research analysts anticipate that Casey’s General Stores, Inc. will post 14.01 earnings per share for the current year.

Casey’s General Stores Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend is Friday, November 1st. Casey’s General Stores’s dividend payout ratio (DPR) is presently 14.56%.

Insider Buying and Selling at Casey’s General Stores

In other Casey’s General Stores news, insider Thomas P. Brennan, Jr. sold 3,000 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 9,044 shares of the company’s stock, valued at approximately $3,438,890.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Thomas P. Brennan, Jr. sold 3,000 shares of the company’s stock in a transaction dated 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 owns 9,044 shares of the company’s stock, valued at $3,438,890.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mike Spanos bought 267 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was bought at an average cost of $376.18 per share, with a total value of $100,440.06. Following 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 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.56% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CASY. Wells Fargo & Company boosted their price target on Casey’s General Stores from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Evercore ISI boosted their price target on Casey’s General Stores from $435.00 to $440.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Melius Research began coverage on Casey’s General Stores in a report on Monday, September 23rd. They issued a “buy” rating and a $435.00 price target for the company. Royal Bank of Canada boosted their price target on Casey’s General Stores from $393.00 to $403.00 and gave the stock a “sector perform” rating in a report on Thursday, September 5th. Finally, StockNews.com lowered Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Casey’s General Stores currently has an average rating of “Moderate Buy” and an average price target of $408.09.

Casey’s General Stores 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.