Dimensional Fund Advisors LP Sells 9,805 Shares of Casey's General Stores, Inc. $CASY

Key Points

• Dimensional Fund Advisors LP reduced its stake in Casey's General Stores by 1.9%, holding 493,174 shares valued at approximately $214 million after selling nearly 10,000 shares in the first quarter.
• Insiders have sold a total of 43,646 shares of Casey's stock worth over $22 million in the last ninety days, indicating notable changes in ownership among company executives.
• Casey's General Stores reported earnings per share (EPS) of $2.63 for the last quarter, surpassing analysts' expectations and marking a year-over-year revenue increase of 10.9%.

Dimensional Fund Advisors LP decreased its position in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 1.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 493,174 shares of the company's stock after selling 9,805 shares during the quarter. Dimensional Fund Advisors LP owned 1.33% of Casey's General Stores worth $214,046,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Azimuth Capital Investment Management LLC lifted its position in Casey's General Stores by 1.0% during the first quarter. Azimuth Capital Investment Management LLC now owns 35,350 shares of the company's stock worth $15,343,000 after purchasing an additional 365 shares during the period. Sei Investments Co. lifted its position in Casey's General Stores by 3.0% during the first quarter. Sei Investments Co. now owns 53,347 shares of the company's stock worth $21,930,000 after purchasing an additional 1,538 shares during the period. Ground Swell Capital LLC bought a new stake in Casey's General Stores during the first quarter worth about $338,000. Financial Network Wealth Advisors LLC lifted its position in Casey's General Stores by 43.6% during the first quarter. Financial Network Wealth Advisors LLC now owns 313 shares of the company's stock worth $136,000 after purchasing an additional 95 shares during the period. Finally, LGT Fund Management Co Ltd. lifted its position in Casey's General Stores by 25.0% during the first quarter. LGT Fund Management Co Ltd. now owns 3,500 shares of the company's stock worth $1,519,000 after purchasing an additional 700 shares during the period. Institutional investors own 85.63% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Stephens reaffirmed an "overweight" rating and set a $490.00 price objective on shares of Casey's General Stores in a research report on Tuesday, June 10th. Wall Street Zen raised shares of Casey's General Stores from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Wells Fargo & Company increased their target price on shares of Casey's General Stores from $460.00 to $540.00 and gave the company an "overweight" rating in a research report on Wednesday, June 11th. The Goldman Sachs Group increased their target price on shares of Casey's General Stores from $385.00 to $450.00 and gave the company a "neutral" rating in a research report on Wednesday, June 11th. Finally, Royal Bank Of Canada increased their target price on shares of Casey's General Stores from $468.00 to $542.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 9th. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $467.33.

Casey's General Stores Trading Down 1.4%

Shares of CASY stock traded down $6.92 during trading hours on Friday, hitting $503.26. 301,761 shares of the company were exchanged, compared to its average volume of 230,955. The firm has a market cap of $18.71 billion, a P/E ratio of 34.38 and a beta of 0.69. Casey's General Stores, Inc. has a fifty-two week low of $350.52 and a fifty-two week high of $531.24. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.48 and a current ratio of 0.92. The company has a 50 day simple moving average of $515.09 and a two-hundred day simple moving average of $463.66.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its earnings results on Monday, June 9th. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.94 by $0.69. Casey's General Stores had a return on equity of 16.28% and a net margin of 3.43%.The company had revenue of $3.99 billion for the quarter, compared to analysts' expectations of $3.95 billion. During the same period last year, the business earned $2.34 EPS. Casey's General Stores's quarterly revenue was up 10.9% compared to the same quarter last year. Equities analysts anticipate that Casey's General Stores, Inc. will post 13.94 EPS for the current year.

Casey's General Stores Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were given a dividend of $0.57 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $2.28 annualized dividend and a dividend yield of 0.5%. This is a boost from Casey's General Stores's previous quarterly dividend of $0.50. Casey's General Stores's payout ratio is 15.57%.

Insider Activity

In other news, CFO Stephen P. Bramlage, Jr. sold 760 shares of the firm's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $507.56, for a total transaction of $385,745.60. Following the completion of the sale, the chief financial officer directly owned 25,994 shares of the company's stock, valued at $13,193,514.64. This trade represents a 2.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Darren M. Rebelez sold 20,000 shares of Casey's General Stores stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $507.83, for a total value of $10,156,600.00. Following the completion of the sale, the chief executive officer directly owned 89,840 shares of the company's stock, valued at approximately $45,623,447.20. This trade represents a 18.21% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,646 shares of company stock worth $22,136,614. 0.54% of the stock is owned by insiders.

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.