Atria Wealth Solutions Inc. Cuts Holdings in Casey's General Stores, Inc. $CASY

Key Points

• Atria Wealth Solutions Inc. cut its holdings in Casey's General Stores by 66.6%, holding only 3,255 shares worth $1,661,000 after selling 6,478 shares in Q2.
• Casey's General Stores reported $5.77 earnings per share for the last quarter, exceeding analyst estimates of $5.02, with quarterly revenue reaching $4.57 billion.
• A $0.57 quarterly dividend has been announced, payable on November 14th, with a yield of 0.4% and an ex-dividend date of October 31st.

Atria Wealth Solutions Inc. decreased its position in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 66.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,255 shares of the company's stock after selling 6,478 shares during the period. Atria Wealth Solutions Inc.'s holdings in Casey's General Stores were worth $1,661,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Samlyn Capital LLC increased its holdings in Casey's General Stores by 42.8% in the first quarter. Samlyn Capital LLC now owns 255,659 shares of the company's stock valued at $110,966,000 after buying an additional 76,673 shares in the last quarter. Security National Bank increased its holdings in Casey's General Stores by 9.7% in the first quarter. Security National Bank now owns 5,674 shares of the company's stock valued at $2,463,000 after buying an additional 504 shares in the last quarter. Cornerstone Wealth Management LLC purchased a new stake in shares of Casey's General Stores during the first quarter worth about $201,000. M&T Bank Corp increased its stake in shares of Casey's General Stores by 39.6% during the first quarter. M&T Bank Corp now owns 2,515 shares of the company's stock worth $1,092,000 after purchasing an additional 713 shares in the last quarter. Finally, Ground Swell Capital LLC purchased a new stake in shares of Casey's General Stores during the first quarter worth about $338,000. Hedge funds and other institutional investors own 85.63% of the company's stock.

Casey's General Stores Stock Performance

CASY opened at $564.17 on Thursday. The firm has a market capitalization of $20.98 billion, a PE ratio of 36.21 and a beta of 0.68. Casey's General Stores, Inc. has a twelve month low of $372.08 and a twelve month high of $572.18. The firm's 50-day moving average price is $532.26 and its 200 day moving average price is $496.02. The company has a current ratio of 1.03, a quick ratio of 0.61 and a debt-to-equity ratio of 0.65.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its quarterly earnings results on Monday, September 8th. The company reported $5.77 earnings per share for the quarter, topping analysts' consensus estimates of $5.02 by $0.75. The firm had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.47 billion. Casey's General Stores had a net margin of 3.54% and a return on equity of 16.73%. Casey's General Stores's quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the business posted $4.83 earnings per share. As a group, sell-side analysts expect that Casey's General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey's General Stores Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CASY. Jefferies Financial Group boosted their target price on shares of Casey's General Stores from $575.00 to $600.00 and gave the stock a "buy" rating in a research note on Tuesday, September 9th. Evercore ISI boosted their target price on shares of Casey's General Stores from $560.00 to $580.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 10th. Weiss Ratings reissued a "buy (b)" rating on shares of Casey's General Stores in a research note on Wednesday, October 8th. Wells Fargo & Company initiated coverage on Casey's General Stores in a report on Wednesday. They issued an "overweight" rating and a $610.00 price objective on the stock. Finally, BMO Capital Markets raised their price objective on Casey's General Stores from $515.00 to $540.00 and gave the company a "market perform" rating in a report on Wednesday, September 10th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Casey's General Stores presently has a consensus rating of "Moderate Buy" and a consensus price target of $536.10.

Insiders Place Their Bets

In other Casey's General Stores news, insider Chad Michael Frazell sold 3,487 shares of the business'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 transaction, the insider directly owned 7,993 shares in the company, valued at $4,439,312.20. The trade was a 30.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.54% of the stock is owned by insiders.

Casey's General Stores Company 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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