Axiom Investors LLC DE Lowers Stock Position in Casey's General Stores, Inc. $CASY

Key Points

• Axiom Investors LLC DE has reduced its stakes in Casey's General Stores by 44.0%, selling 15,948 shares, and now owns approximately 20,260 shares, valued at $8.79 million.
• Casey's General Stores is experiencing positive analyst sentiment, with several firms raising their price targets, leading to a consensus rating of "Moderate Buy" and a target price of $467.33.
• Insider trading activity includes the CEO selling 20,000 shares for over $10 million, marking an 18.21% decrease in his holdings, while CFO also made a transaction decreasing his ownership by 2.84%.

Axiom Investors LLC DE cut its holdings in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 44.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,260 shares of the company's stock after selling 15,948 shares during the period. Axiom Investors LLC DE owned about 0.05% of Casey's General Stores worth $8,794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Jump Financial LLC acquired a new position in shares of Casey's General Stores in the 1st quarter valued at $295,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Casey's General Stores by 13.7% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,715 shares of the company's stock valued at $744,000 after purchasing an additional 206 shares in the last quarter. Compound Planning Inc. raised its holdings in Casey's General Stores by 14.9% in the 1st quarter. Compound Planning Inc. now owns 687 shares of the company's stock worth $298,000 after purchasing an additional 89 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. raised its holdings in Casey's General Stores by 80.7% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 2,065 shares of the company's stock worth $895,000 after purchasing an additional 922 shares during the period. Finally, Hsbc Holdings PLC purchased a new position in Casey's General Stores during the first quarter worth approximately $221,000. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Casey's General Stores Price Performance

Shares of Casey's General Stores stock traded up $1.51 during trading hours on Wednesday, reaching $498.29. 243,836 shares of the company's stock were exchanged, compared to its average volume of 346,989. Casey's General Stores, Inc. has a 1 year low of $350.52 and a 1 year high of $531.24. The company has a market capitalization of $18.53 billion, a P/E ratio of 34.04 and a beta of 0.69. The business has a fifty day moving average of $514.67 and a two-hundred day moving average of $464.38. The company has a quick ratio of 0.48, a current ratio of 0.92 and a debt-to-equity ratio of 0.69.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its quarterly earnings results on Monday, June 9th. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.69. Casey's General Stores had a net margin of 3.43% and a return on equity of 16.28%. The firm had revenue of $3.99 billion for the quarter, compared to analysts' expectations of $3.95 billion. During the same quarter in the previous year, the company posted $2.34 EPS. The company's revenue was up 10.9% compared to the same quarter last year. As a group, research analysts predict that Casey's General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey's General Stores Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued a dividend of $0.57 per share. The ex-dividend date was Friday, August 1st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.5%. This is an increase from Casey's General Stores's previous quarterly dividend of $0.50. Casey's General Stores's payout ratio is 15.57%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wall Street Zen upgraded Casey's General Stores from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. The Goldman Sachs Group lifted their price target on shares of Casey's General Stores from $385.00 to $450.00 and gave the company a "neutral" rating in a research note on Wednesday, June 11th. Stephens restated an "overweight" rating and set a $490.00 price objective on shares of Casey's General Stores in a research report on Tuesday, June 10th. Royal Bank Of Canada lifted their target price on shares of Casey's General Stores from $468.00 to $542.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 9th. Finally, KeyCorp boosted their target price on shares of Casey's General Stores from $550.00 to $575.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Eight equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $467.33.

Insider Activity

In related news, insider Katrina S. Lindsey sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $506.07, for a total value of $1,012,140.00. Following the transaction, the insider directly owned 4,636 shares in the company, valued at approximately $2,346,140.52. This represents a 30.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mike Spanos bought 200 shares of Casey's General Stores stock in a transaction on Monday, June 30th. The stock was acquired at an average price of $503.18 per share, for a total transaction of $100,636.00. Following the transaction, the director directly owned 3,560 shares of the company's stock, valued at approximately $1,791,320.80. This trade represents a 5.95% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 43,646 shares of company stock worth $22,136,614. 0.54% of the stock is owned by company insiders.

About Casey's General Stores

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.