Casey’s General Stores, Inc. (NASDAQ:CASY) Shares Sold by WCM Investment Management LLC

WCM Investment Management LLC decreased its position in Casey’s General Stores, Inc. (NASDAQ:CASY) by 91.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,836 shares of the company’s stock after selling 51,920 shares during the quarter. WCM Investment Management LLC’s holdings in Casey’s General Stores were worth $1,805,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in Casey’s General Stores during the 3rd quarter worth about $959,880,000. Millennium Management LLC increased its stake in shares of Casey’s General Stores by 3,846.1% during the second quarter. Millennium Management LLC now owns 172,320 shares of the company’s stock worth $65,750,000 after buying an additional 176,920 shares during the period. Scout Investments Inc. raised its holdings in Casey’s General Stores by 138.2% in the first quarter. Scout Investments Inc. now owns 179,051 shares of the company’s stock valued at $56,467,000 after acquiring an additional 103,879 shares in the last quarter. Bridges Investment Management Inc. lifted its stake in 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. Finally, American Century Companies Inc. grew its holdings in Casey’s General Stores by 189.1% during the 2nd quarter. American Century Companies Inc. now owns 132,375 shares of the company’s stock worth $50,509,000 after acquiring an additional 86,582 shares in the last quarter. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Casey’s General Stores Stock Down 0.5 %

CASY stock opened at $410.97 on Tuesday. The stock has a market capitalization of $15.26 billion, a PE ratio of 29.91 and a beta of 0.79. Casey’s General Stores, Inc. has a one year low of $266.56 and a one year high of $420.27. The company has a fifty day moving average of $383.05 and a 200-day moving average of $367.39. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.44 and a current ratio of 0.84.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Wednesday, September 4th. The company reported $4.83 earnings per share for the quarter, topping analysts’ consensus estimates of $4.54 by $0.29. The firm had revenue of $4.10 billion for 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 quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.52 earnings per share. As a group, analysts expect that Casey’s General Stores, Inc. will post 14.24 EPS for the current year.

Casey’s General Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend is Friday, November 1st. Casey’s General Stores’s dividend payout ratio is currently 14.56%.

Insiders Place Their Bets

In related news, CEO Darren M. Rebelez sold 13,500 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $374.54, for a total value of $5,056,290.00. Following the completion of the transaction, the chief executive officer now directly owns 73,838 shares of the company’s stock, valued at $27,655,284.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Casey’s General Stores news, Director Mike Spanos acquired 267 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were acquired at an average price of $376.18 per share, for a total transaction of $100,440.06. Following the completion of the acquisition, the director now directly owns 2,594 shares of the company’s stock, valued at $975,810.92. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Darren M. Rebelez sold 13,500 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $374.54, for a total value of $5,056,290.00. Following the completion of the sale, the chief executive officer now directly owns 73,838 shares in the company, valued at approximately $27,655,284.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CASY has been the subject of several recent analyst reports. Evercore ISI lifted 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 report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft increased their price objective on Casey’s General Stores from $451.00 to $454.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Melius Research began coverage on Casey’s General Stores in a research note on Monday, September 23rd. They set a “buy” rating and a $435.00 target price for the company. StockNews.com lowered shares of Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 3rd. Finally, JPMorgan Chase & Co. lowered shares of Casey’s General Stores from a “neutral” rating to an “underweight” rating and lifted their price target for the stock from $300.00 to $337.00 in a research note on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Casey’s General Stores currently has an average rating of “Moderate Buy” and a consensus target price of $408.25.

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.