Casey's General Stores, Inc. $CASY Shares Sold by Copeland Capital Management LLC

Key Points

• Copeland Capital Management reduced its Casey’s General Stores holdings by 29.8% in the third quarter, selling 8,792 shares and retaining 20,679 shares valued at approximately $12.6 million. Institutional investors collectively own 85.63% of the company.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” from 21 analysts and an average price target of $835.38, despite some firms lowering targets or maintaining neutral ratings.
• Casey’s exceeded quarterly expectations with earnings of $7.37 per share and revenue of $5.68 billion, while reporting 24.3% year-over-year revenue growth. The company also declared a quarterly dividend of $0.65 per share, equivalent to a 0.4% annual yield.

Copeland Capital Management LLC cut its holdings in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 29.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,679 shares of the company's stock after selling 8,792 shares during the quarter. Copeland Capital Management LLC owned about 0.06% of Casey's General Stores worth $12,583,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of CASY. Fiduciary Financial Advisors purchased a new stake in shares of Casey's General Stores in the 2nd quarter valued at approximately $26,000. Polaris Financial Partners purchased a new position in shares of Casey's General Stores during the 3rd quarter worth approximately $29,000. Whipplewood Advisors LLC purchased a new position in shares of Casey's General Stores during the 1st quarter worth approximately $33,000. Bell Investment Advisors Inc purchased a new position in shares of Casey's General Stores during the 2nd quarter worth approximately $33,000. Finally, Anchor Investment Management LLC increased its holdings in Casey's General Stores by 72.0% in the 2nd quarter. Anchor Investment Management LLC now owns 43 shares of the company's stock valued at $34,000 after purchasing an additional 18 shares during the last quarter. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Weiss Ratings lowered Casey's General Stores from a "buy (b+)" rating to a "buy (b)" rating in a research report on Tuesday, July 21st. Raymond James Financial upgraded Casey's General Stores from a "market perform" rating to an "outperform" rating and set a $750.00 price target on the stock in a research note on Thursday, September 10th. JPMorgan Chase & Co. lowered their price target on Casey's General Stores from $975.00 to $833.00 and set a "neutral" rating for the company in a research report on Thursday, September 3rd. Capital One Financial began coverage on Casey's General Stores in a research report on Monday, June 22nd. They set an "equal weight" rating and a $896.00 price target for the company. Finally, Royal Bank Of Canada raised Casey's General Stores from a "sector perform" rating to an "outperform" rating and set a $825.00 price objective for the company in a research note on Thursday. Sixteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $835.38.

Casey's General Stores Stock Performance

Shares of CASY stock opened at $653.61 on Thursday. The company has a quick ratio of 0.61, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. Casey's General Stores, Inc. has a 52 week low of $497.38 and a 52 week high of $927.85. The stock has a market capitalization of $24.16 billion, a PE ratio of 31.48, a P/E/G ratio of 2.09 and a beta of 0.59. The firm has a 50 day moving average of $707.79 and a two-hundred day moving average of $775.24.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its quarterly earnings results on Tuesday, September 8th. The company reported $7.37 EPS for the quarter, topping the consensus estimate of $6.78 by $0.59. The business had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.56 billion. Casey's General Stores had a net margin of 4.14% and a return on equity of 19.68%. The company's quarterly revenue was up 24.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.77 earnings per share. On average, research analysts predict that Casey's General Stores, Inc. will post 21.43 EPS for the current fiscal year.

Casey's General Stores Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Sunday, November 1st will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.4%. The ex-dividend date is Friday, October 30th. Casey's General Stores's payout ratio is 12.52%.

Casey's General Stores Company Profile

Casey’s General Stores, Inc NASDAQ: CASY is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.

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