AssuredPartners Investment Advisors LLC Cuts Stock Holdings in Casey's General Stores, Inc. $CASY

Key Points

• AssuredPartners Investment Advisors LLC reduced its holdings in Casey's General Stores, Inc. by 5.7% in Q2, now owning 7,541 shares valued at approximately $3.85 million.
• Casey's General Stores reported $5.77 EPS for the quarter, exceeding analysts' expectations, and had revenue of $4.57 billion, marking an 11.5% year-over-year increase.
• The company is planning to pay a quarterly dividend of $0.57 on November 14th, indicating a dividend yield of 0.4%.

AssuredPartners Investment Advisors LLC decreased its holdings in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 5.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 7,541 shares of the company's stock after selling 452 shares during the period. AssuredPartners Investment Advisors LLC's holdings in Casey's General Stores were worth $3,848,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CASY. Summit Securities Group LLC purchased a new position in shares of Casey's General Stores in the 1st quarter worth approximately $32,000. Iron Horse Wealth Management LLC grew its position in shares of Casey's General Stores by 40.0% in the 1st quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company's stock worth $40,000 after buying an additional 26 shares during the last quarter. WPG Advisers LLC purchased a new position in shares of Casey's General Stores in the 1st quarter worth approximately $47,000. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Casey's General Stores by 242.9% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 96 shares of the company's stock worth $49,000 after buying an additional 68 shares during the last quarter. Finally, Wayfinding Financial LLC purchased a new position in shares of Casey's General Stores in the 1st quarter worth approximately $59,000. Hedge funds and other institutional investors own 85.63% of the company's stock.

Insider Activity

In related news, insider Chad Michael Frazell sold 3,487 shares of the company's stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $555.40, for a total value of $1,936,679.80. Following the completion of the sale, the insider owned 7,993 shares of the company's stock, valued at approximately $4,439,312.20. This represents a 30.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.54% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on CASY shares. Wells Fargo & Company began coverage on shares of Casey's General Stores in a research note on Wednesday. They issued an "overweight" rating and a $610.00 target price for the company. Zacks Research raised shares of Casey's General Stores from a "hold" rating to a "strong-buy" rating in a report on Wednesday. BMO Capital Markets increased their price target on shares of Casey's General Stores from $515.00 to $540.00 and gave the stock a "market perform" rating in a report on Wednesday, September 10th. The Goldman Sachs Group increased their price target on shares of Casey's General Stores from $450.00 to $490.00 and gave the stock a "neutral" rating in a report on Wednesday, September 10th. Finally, Royal Bank Of Canada increased their price target on shares of Casey's General Stores from $468.00 to $542.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $536.10.

Casey's General Stores Price Performance

Shares of NASDAQ CASY opened at $561.33 on Friday. The firm has a 50-day simple moving average of $533.12 and a 200-day simple moving average of $496.90. The stock has a market capitalization of $20.87 billion, a price-to-earnings ratio of 36.03 and a beta of 0.68. The company has a quick ratio of 0.61, a current ratio of 1.03 and a debt-to-equity ratio of 0.65. Casey's General Stores, Inc. has a 52 week low of $372.08 and a 52 week high of $572.18.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its earnings results on Monday, September 8th. The company reported $5.77 EPS for the quarter, beating analysts' consensus estimates of $5.02 by $0.75. Casey's General Stores had a net margin of 3.54% and a return on equity of 16.73%. The business had revenue of $4.57 billion during the quarter, compared to analysts' expectations of $4.47 billion. During the same period in the prior year, the business earned $4.83 earnings per share. The company's quarterly revenue was up 11.5% compared to the same quarter last year. On average, equities analysts predict that Casey's General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey's General Stores Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Saturday, November 1st will be issued a $0.57 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.4%. Casey's General Stores's dividend payout ratio is currently 14.63%.

Casey's General Stores Profile

Casey's General Stores, Inc engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.

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