Casey's General Stores, Inc. $CASY Shares Sold by EULAV Asset Management

Key Points

• EULAV Asset Management reduced its Casey’s General Stores stake by 21.4% in the third quarter, selling 19,663 shares and retaining 72,186 shares worth approximately $43.9 million. Institutional investors collectively own 85.63% of the company.
• Casey’s reported quarterly earnings of $7.37 per share, exceeding analyst expectations of $6.78, while revenue rose 24.3% year over year to $5.68 billion.
• The company declared a quarterly dividend of $0.65 per share, or $2.60 annualized, representing a 0.4% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $835.38.

EULAV Asset Management trimmed its position in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 21.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 72,186 shares of the company's stock after selling 19,663 shares during the quarter. Casey's General Stores accounts for 1.6% of EULAV Asset Management's holdings, making the stock its 19th largest holding. EULAV Asset Management owned about 0.20% of Casey's General Stores worth $43,922,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Casey's General Stores in the second quarter valued at about $2,759,895,000. Bank of America Corp DE purchased a new stake in Casey's General Stores in the second quarter worth about $281,872,000. Bank of New York Mellon Corp purchased a new stake in Casey's General Stores in the second quarter worth about $281,011,000. Jupiter Topco LLC purchased a new stake in Casey's General Stores in the second quarter worth about $246,982,000. Finally, Principal Financial Group Inc. increased its position in Casey's General Stores by 2.1% during the 1st quarter. Principal Financial Group Inc. now owns 252,374 shares of the company's stock valued at $183,693,000 after purchasing an additional 5,294 shares during the period. Institutional investors own 85.63% of the company's stock.

Casey's General Stores Stock Performance

Shares of NASDAQ CASY opened at $699.26 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 0.61. The stock has a market capitalization of $25.84 billion, a P/E ratio of 33.68, a price-to-earnings-growth ratio of 2.26 and a beta of 0.59. Casey's General Stores, Inc. has a 1-year low of $497.38 and a 1-year high of $927.85. The business has a fifty day moving average price of $686.97 and a 200 day moving average price of $773.34.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its quarterly earnings data on Tuesday, September 8th. The company reported $7.37 earnings per share for the quarter, beating analysts' consensus estimates of $6.78 by $0.59. Casey's General Stores had a return on equity of 19.68% and a net margin of 4.14%. The company had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.56 billion. During the same quarter last year, the company earned $5.77 earnings per share. The firm's revenue for the quarter was up 24.3% compared to the same quarter last year. Equities research analysts expect that Casey's General Stores, Inc. will post 21.61 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. Stockholders of record on Sunday, November 1st will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Friday, October 30th. Casey's General Stores's dividend payout ratio (DPR) is currently 12.52%.

Analyst Ratings Changes

CASY has been the subject of several recent research reports. The Goldman Sachs Group set a $750.00 price target on shares of Casey's General Stores in a report on Wednesday, September 9th. Stephens set a $750.00 price target on shares of Casey's General Stores in a research report on Thursday, September 10th. William Blair reiterated an "outperform" rating on shares of Casey's General Stores in a research note on Wednesday, September 16th. KeyCorp cut their price objective on shares of Casey's General Stores from $970.00 to $780.00 and set an "overweight" rating on the stock in a report on Thursday, September 10th. Finally, Raymond James Financial raised shares of Casey's General Stores from a "market perform" rating to an "outperform" rating and set a $750.00 price objective on the stock in a report on Thursday, September 10th. Sixteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Casey's General Stores has an average rating of "Moderate Buy" and a consensus target price of $835.38.

About Casey's General Stores

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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