Casey's General Stores, Inc. $CASY Position Trimmed by Nicola Wealth Management LTD.

Key Points

• Nicola Wealth Management LTD. reduced its holdings in Casey's General Stores, Inc. by 13.2%, now owning 53,900 shares, which makes it the company's 7th largest position in their portfolio.
• Insiders have recently sold significant amounts of Casey’s stock, with a total of 42,646 shares sold worth over $21 million in the last 90 days, indicating potential shifts in insider sentiment.
• Casey’s reported a strong earnings quarter with an EPS of $5.77, exceeding estimates, and projected a dividend of $0.57 payable in November, representing an annualized yield of 0.4%.

Nicola Wealth Management LTD. trimmed its stake in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 13.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 53,900 shares of the company's stock after selling 8,200 shares during the period. Casey's General Stores accounts for 2.3% of Nicola Wealth Management LTD.'s portfolio, making the stock its 7th largest holding. Nicola Wealth Management LTD. owned approximately 0.15% of Casey's General Stores worth $23,395,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of CASY. Versant Capital Management Inc purchased a new position in shares of Casey's General Stores in the 1st quarter worth $25,000. Global Financial Private Client LLC grew its stake in shares of Casey's General Stores by 325.0% in the 1st quarter. Global Financial Private Client LLC now owns 68 shares of the company's stock worth $30,000 after buying an additional 52 shares in the last quarter. Summit Securities Group LLC purchased a new position in shares of Casey's General Stores in the 1st quarter worth $32,000. Iron Horse Wealth Management LLC grew its stake 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 in the last quarter. Finally, WPG Advisers LLC purchased a new position in shares of Casey's General Stores in the 1st quarter worth $47,000. 85.63% of the stock is owned by hedge funds and other institutional investors.

Casey's General Stores Trading Up 0.2%

Casey's General Stores stock traded up $1.02 during trading hours on Monday, hitting $554.91. The company had a trading volume of 331,809 shares, compared to its average volume of 356,151. The firm has a market cap of $20.63 billion, a P/E ratio of 35.62 and a beta of 0.66. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.61 and a current ratio of 1.03. Casey's General Stores, Inc. has a 1 year low of $362.42 and a 1 year high of $562.97. The company has a 50-day moving average price of $516.25 and a two-hundred day moving average price of $472.88.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its quarterly earnings data on Monday, September 8th. The company reported $5.77 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $4.57 billion during the quarter, compared to analysts' expectations of $4.47 billion. During the same period in the previous year, the company earned $4.83 EPS. The firm's quarterly revenue was up 11.5% on a year-over-year basis. On average, sell-side analysts anticipate that Casey's General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey's General Stores Announces Dividend

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

Insiders Place Their Bets

In other news, CFO Stephen P. Bramlage, Jr. sold 760 shares of the business's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $507.56, for a total value of $385,745.60. Following the completion of the sale, the chief financial officer owned 25,994 shares in the company, valued at approximately $13,193,514.64. The trade was a 2.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Chad Michael Frazell sold 4,808 shares of the business's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $503.97, for a total transaction of $2,423,087.76. Following the completion of the sale, the insider owned 11,480 shares of the company's stock, valued at approximately $5,785,575.60. This represents a 29.52% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,046 shares of company stock worth $18,294,656. 0.54% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CASY shares. Royal Bank Of Canada lifted their price objective on shares of Casey's General Stores from $468.00 to $542.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 9th. Jefferies Financial Group lifted their price objective 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. Wall Street Zen raised shares of Casey's General Stores from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. KeyCorp lifted their price objective 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. Finally, Wells Fargo & Company raised their target price on shares of Casey's General Stores from $540.00 to $580.00 and gave the stock an "overweight" rating in a report on Monday, September 8th. 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $505.25.

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.