Casey's General Stores, Inc. $CASY Shares Sold by WD Rutherford LLC

Key Points

• WD Rutherford LLC reduced its stake in Casey's General Stores by 5.9%, now holding 8,088 shares valued at $4.13 million, making it the firm's 22nd largest holding.
• Casey's General Stores reported $5.77 EPS for the quarter, exceeding expectations, alongside an 11.5% year-over-year revenue increase to $4.57 billion.
• The company announced a quarterly dividend of $0.57 per share, resulting in an annualized yield of 0.4%, with the ex-dividend date set for October 31st.

WD Rutherford LLC decreased its position in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 5.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,088 shares of the company's stock after selling 509 shares during the quarter. Casey's General Stores comprises about 1.9% of WD Rutherford LLC's investment portfolio, making the stock its 22nd largest holding. WD Rutherford LLC's holdings in Casey's General Stores were worth $4,127,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Samlyn Capital LLC boosted its holdings in shares of Casey's General Stores by 42.8% during the first quarter. Samlyn Capital LLC now owns 255,659 shares of the company's stock valued at $110,966,000 after acquiring an additional 76,673 shares during the period. Security National Bank raised its stake in shares of Casey's General Stores by 9.7% during the first quarter. Security National Bank now owns 5,674 shares of the company's stock valued at $2,463,000 after purchasing an additional 504 shares in the last quarter. Cornerstone Wealth Management LLC bought a new stake in shares of Casey's General Stores during the first quarter valued at about $201,000. M&T Bank Corp raised its stake in shares of Casey's General Stores by 39.6% during the first quarter. M&T Bank Corp now owns 2,515 shares of the company's stock valued at $1,092,000 after purchasing an additional 713 shares in the last quarter. Finally, Ground Swell Capital LLC bought a new stake in shares of Casey's General Stores during the first quarter valued at about $338,000. Institutional investors and hedge funds own 85.63% of the company's stock.

Casey's General Stores Price Performance

Shares of CASY stock opened at $547.54 on Friday. The stock has a 50-day moving average price of $522.50 and a 200 day moving average price of $482.83. The company has a quick ratio of 0.61, a current ratio of 1.03 and a debt-to-equity ratio of 0.65. The firm has a market cap 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 12 month low of $363.00 and a 12 month high of $571.57.

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 company's revenue was up 11.5% on a year-over-year basis. During the same period last year, the company earned $4.83 earnings per share. Research analysts expect that Casey's General Stores, Inc. will post 13.94 EPS for the current year.

Casey's General Stores Announces Dividend

The company 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 $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Friday, October 31st. Casey's General Stores's dividend payout ratio (DPR) is presently 14.63%.

Insider Transactions at Casey's General Stores

In other Casey's General Stores news, CFO Stephen P. Bramlage, Jr. sold 760 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $507.56, for a total transaction of $385,745.60. Following the transaction, the chief financial officer owned 25,994 shares in the company, valued at approximately $13,193,514.64. This trade represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mike Spanos bought 200 shares of Casey's General Stores stock in a transaction on Monday, June 30th. The shares were bought at an average price of $503.18 per share, for a total transaction of $100,636.00. Following the acquisition, the director owned 3,560 shares of the company's stock, valued at approximately $1,791,320.80. The trade was a 5.95% increase in their position. The disclosure for this purchase can be found here. 0.54% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group lifted 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. Evercore ISI lifted their target price on shares of Casey's General Stores from $560.00 to $580.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 10th. Wells Fargo & Company upped their target price on Casey's General Stores from $540.00 to $580.00 and gave the company an "overweight" rating in a report on Monday, September 8th. Stephens reiterated an "overweight" rating and issued a $530.00 target price on shares of Casey's General Stores in a report on Tuesday, September 9th. Finally, Royal Bank Of Canada increased their price objective on Casey's General Stores from $468.00 to $542.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 9th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus 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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