Casey’s General Stores, Inc. (NASDAQ:CASY) Stock Position Trimmed by Highland Capital Management LLC

Highland Capital Management LLC trimmed its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 5.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,180 shares of the company’s stock after selling 660 shares during the period. Highland Capital Management LLC’s holdings in Casey’s General Stores were worth $4,576,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Park Place Capital Corp acquired a new position in shares of Casey’s General Stores during the second quarter worth approximately $31,000. Innealta Capital LLC bought a new position in shares of Casey’s General Stores in the second quarter worth $32,000. Advisors Asset Management Inc. bought a new position in shares of Casey’s General Stores in the first quarter worth $32,000. Bank & Trust Co bought a new stake in shares of Casey’s General Stores during the second quarter valued at about $40,000. Finally, V Square Quantitative Management LLC lifted its holdings in Casey’s General Stores by 22.5% in the third quarter. V Square Quantitative Management LLC now owns 158 shares of the company’s stock worth $59,000 after purchasing an additional 29 shares during the period. Institutional investors own 85.63% of the company’s stock.

Insider Activity at Casey’s General Stores

In other Casey’s General Stores news, Director Mike Spanos acquired 267 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was purchased at an average cost of $376.18 per share, for a total transaction of $100,440.06. Following the transaction, the director now owns 2,594 shares of the company’s stock, valued at $975,810.92. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Mike Spanos bought 267 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was bought at an average price of $376.18 per share, for a total transaction of $100,440.06. Following the transaction, the director now directly owns 2,594 shares in the company, valued at $975,810.92. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Darren M. Rebelez sold 13,500 shares of the business’s stock in a transaction on Friday, September 6th. The shares were 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 approximately $27,655,284.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.47% of the stock is owned by insiders.

Casey’s General Stores Price Performance

NASDAQ CASY opened at $391.13 on Friday. Casey’s General Stores, Inc. has a 1 year low of $266.55 and a 1 year high of $401.07. The stock’s 50-day moving average price is $376.38 and its two-hundred day moving average price is $359.85. The company has a market cap of $14.52 billion, a PE ratio of 29.12 and a beta of 0.80. The company has a current ratio of 0.84, a quick ratio of 0.44 and a debt-to-equity ratio of 0.44.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Wednesday, September 4th. The company reported $4.83 EPS for the quarter, beating 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 business had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter in the prior year, the firm earned $4.52 EPS. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. On average, analysts predict that Casey’s General Stores, Inc. will post 14.01 EPS for the current year.

Casey’s General Stores Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.51%. Casey’s General Stores’s dividend payout ratio is 14.89%.

Analysts Set New Price Targets

A number of analysts have commented on CASY shares. Northcoast Research upgraded shares of Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $410.00 price target on the stock in a research report on Thursday, July 11th. JPMorgan Chase & Co. downgraded Casey’s General Stores from a “neutral” rating to an “underweight” rating and upped their target price for the stock from $300.00 to $337.00 in a research report on Thursday, September 19th. Evercore ISI increased their price target 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. Wells Fargo & Company boosted their price objective on Casey’s General Stores from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Finally, StockNews.com lowered Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Casey’s General Stores presently has an average rating of “Moderate Buy” and a consensus price target of $408.09.

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.