Casey’s General Stores, Inc. (NASDAQ:CASY) Shares Sold by Strategy Asset Managers LLC

Strategy Asset Managers LLC reduced its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 4.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,011 shares of the company’s stock after selling 50 shares during the quarter. Strategy Asset Managers LLC’s holdings in Casey’s General Stores were worth $380,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. OneDigital Investment Advisors LLC lifted its stake in Casey’s General Stores by 111.7% during the third quarter. OneDigital Investment Advisors LLC now owns 4,004 shares of the company’s stock worth $1,504,000 after purchasing an additional 2,113 shares during the last quarter. Aptus Capital Advisors LLC lifted its position in shares of Casey’s General Stores by 15.2% during the 3rd quarter. Aptus Capital Advisors LLC now owns 28,575 shares of the company’s stock worth $10,736,000 after buying an additional 3,776 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Casey’s General Stores by 24.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 7,210 shares of the company’s stock valued at $2,709,000 after buying an additional 1,395 shares in the last quarter. Bailard Inc. purchased a new position in shares of Casey’s General Stores in the 2nd quarter valued at $1,021,000. Finally, Marks Group Wealth Management Inc purchased a new position in shares of Casey’s General Stores in the 3rd quarter valued at $5,489,000. 85.63% of the stock is owned by institutional investors and hedge funds.

Casey’s General Stores Stock Performance

Shares of CASY opened at $413.95 on Thursday. The stock has a market capitalization of $15.36 billion, a P/E ratio of 30.13 and a beta of 0.79. 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, Inc. has a 1 year low of $266.56 and a 1 year high of $420.27. The company’s fifty day moving average is $388.74 and its two-hundred day moving average is $371.47.

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, topping the consensus estimate of $4.54 by $0.29. Casey’s General Stores had a net margin of 3.40% and a return on equity of 17.07%. The firm had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.15 billion. During the same period in the prior year, the company posted $4.52 earnings per share. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, sell-side analysts predict that Casey’s General Stores, Inc. will post 14.24 earnings per share for the current year.

Casey’s General Stores Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued a $0.50 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $2.00 annualized dividend and a dividend yield of 0.48%. Casey’s General Stores’s dividend payout ratio is currently 14.56%.

Wall Street Analyst Weigh In

CASY has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Casey’s General Stores from $451.00 to $454.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. cut Casey’s General Stores from a “neutral” rating to an “underweight” rating and upped their target price for the company from $300.00 to $337.00 in a research report on Thursday, September 19th. Gordon Haskett assumed coverage on Casey’s General Stores in a research note on Monday, November 4th. They set a “hold” rating and a $400.00 price target on the stock. Evercore ISI boosted their price objective on Casey’s General Stores from $435.00 to $440.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company increased their price objective on Casey’s General Stores from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Friday, September 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $408.25.

Insider Activity at Casey’s General Stores

In related news, insider Thomas P. Brennan, Jr. sold 3,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were 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 in the company, valued at $3,438,890.56. This trade represents a 24.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Darren M. Rebelez sold 13,500 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $374.54, for a total transaction of $5,056,290.00. Following the transaction, the chief executive officer now owns 73,838 shares in the company, valued at $27,655,284.52. The trade was a 15.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.56% of the company’s stock.

About Casey’s General Stores

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.