Casey's General Stores, Inc. $CASY Shares Sold by Nisa Investment Advisors LLC

Key Points

• Nisa Investment Advisors cut its Casey’s General Stores stake by 43.9% in the third quarter, selling 5,075 shares and retaining 6,480 shares valued at approximately $3.94 million. Institutional investors collectively own 85.63% of the company.
• Analysts maintain a generally positive view, with 16 Buy ratings and five Holds producing a “Moderate Buy” consensus and an average price target of $835.38, despite several recent target-price reductions.
• Casey’s reported quarterly earnings of $7.37 per share, beating estimates by $0.59, while revenue rose 24.3% year over year to $5.68 billion. The company also declared a quarterly dividend of $0.65 per share, equivalent to a 0.4% yield.

Nisa Investment Advisors LLC trimmed its stake in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 43.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,480 shares of the company's stock after selling 5,075 shares during the quarter. Nisa Investment Advisors LLC's holdings in Casey's General Stores were worth $3,943,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CASY. Miller Financial Services LLC acquired a new position in Casey's General Stores in the 3rd quarter worth about $223,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Casey's General Stores by 2.4% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,372 shares of the company's stock valued at $3,269,000 after buying an additional 126 shares during the last quarter. Capital Square LLC raised its holdings in Casey's General Stores by 54.3% in the 3rd quarter. Capital Square LLC now owns 1,685 shares of the company's stock valued at $1,025,000 after buying an additional 593 shares during the last quarter. LexAurum Advisors LLC boosted its position in Casey's General Stores by 13.1% during the 3rd quarter. LexAurum Advisors LLC now owns 879 shares of the company's stock worth $535,000 after buying an additional 102 shares during the period. Finally, First Bank & Trust boosted its position in Casey's General Stores by 5.8% during the 3rd quarter. First Bank & Trust now owns 1,562 shares of the company's stock worth $950,000 after buying an additional 86 shares during the period. Institutional investors own 85.63% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of Casey's General Stores from $975.00 to $833.00 and set a "neutral" rating on the stock in a report on Thursday, September 3rd. Royal Bank Of Canada upgraded shares of Casey's General Stores from a "sector perform" rating to an "outperform" rating and cut their price target for the stock from $910.00 to $825.00 in a report on Thursday, October 15th. Stephens set a $750.00 price objective on shares of Casey's General Stores in a research note on Thursday, September 10th. Evercore reissued an "outperform" rating and issued a $775.00 price objective on shares of Casey's General Stores in a research note on Friday, September 11th. Finally, KeyCorp decreased their price objective on Casey's General Stores from $970.00 to $780.00 and set an "overweight" rating for the company in a report on Thursday, September 10th. 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, the stock has a consensus rating of "Moderate Buy" and an average target price of $835.38.

Casey's General Stores Price Performance

Shares of NASDAQ CASY opened at $699.26 on Friday. The company has a market capitalization of $25.84 billion, a PE ratio of 33.68, a P/E/G ratio of 2.31 and a beta of 0.59. 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 twelve month low of $497.38 and a twelve month high of $927.85. The firm has a fifty day simple moving average of $686.97 and a 200 day simple moving average of $773.16.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its quarterly earnings results on Tuesday, September 8th. The company reported $7.37 EPS for the quarter, beating analysts' consensus estimates of $6.78 by $0.59. Casey's General Stores had a net margin of 4.14% and a return on equity of 19.68%. The business had revenue of $5.68 billion for the quarter, compared to analysts' expectations of $5.56 billion. During the same quarter in the prior year, the firm posted $5.77 earnings per share. The business's quarterly revenue was up 24.3% compared to the same quarter last year. On average, sell-side analysts forecast that Casey's General Stores, Inc. will post 21.61 EPS for the current year.

Casey's General Stores Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Sunday, November 1st will be paid 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 of this dividend is Friday, October 30th. Casey's General Stores's payout ratio is currently 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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