Casey's General Stores, Inc. $CASY Shares Sold by Capital Insight Partners LLC

Key Points

• Capital Insight Partners LLC has reduced its stake in Casey's General Stores, Inc. by 4.6%, owning 16,823 shares valued at approximately $8.58 million after selling 814 shares in the last quarter.
• Casey's General Stores reported a quarterly earnings per share (EPS) of $5.77, exceeding analyst expectations of $5.02 and achieving a revenue of $4.57 billion, up 11.5% compared to the same quarter last year.
• The company declared a quarterly dividend of $0.57 per share, which will be paid on November 14th, with an annualized yield of 0.4% and a payout ratio of 14.63%.

Capital Insight Partners LLC decreased its position in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 4.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,823 shares of the company's stock after selling 814 shares during the quarter. Casey's General Stores comprises approximately 1.5% of Capital Insight Partners LLC's holdings, making the stock its 21st largest position. Capital Insight Partners LLC's holdings in Casey's General Stores were worth $8,584,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in shares of Casey's General Stores by 190.6% during the 1st quarter. Wellington Management Group LLP now owns 1,244,311 shares of the company's stock valued at $540,081,000 after purchasing an additional 816,110 shares in the last quarter. GAMMA Investing LLC lifted its stake in Casey's General Stores by 54,448.8% during the first quarter. GAMMA Investing LLC now owns 543,852 shares of the company's stock valued at $236,054,000 after purchasing an additional 542,855 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Casey's General Stores by 42.0% during the first quarter. JPMorgan Chase & Co. now owns 1,036,426 shares of the company's stock valued at $449,851,000 after purchasing an additional 306,628 shares during the last quarter. Third Point LLC bought a new stake in Casey's General Stores during the first quarter worth approximately $130,212,000. Finally, Nuveen LLC acquired a new position in Casey's General Stores in the first quarter worth approximately $76,467,000. 85.63% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Casey's General Stores news, CFO Stephen P. Bramlage, Jr. sold 760 shares of the stock in a transaction that occurred on 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 $13,193,514.64. This represents a 2.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.54% of the company's stock.

Casey's General Stores Stock Performance

Shares of CASY stock opened at $547.54 on Monday. The company has a market capitalization of $20.36 billion, a price-to-earnings ratio of 35.14 and a beta of 0.66. Casey's General Stores, Inc. has a 1-year low of $363.00 and a 1-year high of $571.57. The company has a current ratio of 1.03, a quick ratio of 0.61 and a debt-to-equity ratio of 0.65. The stock's fifty day simple moving average is $522.50 and its 200-day simple moving average is $483.52.

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

Casey's General Stores Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Evercore ISI increased their price objective on Casey's General Stores from $560.00 to $580.00 and gave the company an "outperform" rating in a research report on Wednesday, September 10th. Wall Street Zen raised Casey's General Stores from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. BMO Capital Markets increased their price target on Casey's General Stores from $515.00 to $540.00 and gave the company a "market perform" rating in a research report on Wednesday, September 10th. The Goldman Sachs Group lifted their price target on Casey's General Stores from $450.00 to $490.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 10th. Finally, Jefferies Financial Group upped their price objective on shares of Casey's General Stores from $575.00 to $600.00 and gave the company a "buy" rating in a research note on Tuesday, September 9th. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Casey's General Stores has an average rating of "Moderate Buy" and an average price target of $529.10.

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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