Casey's General Stores, Inc. $CASY Shares Sold by Aptus Capital Advisors LLC

Key Points

• Aptus Capital Advisors LLC reduced its holdings in Casey's General Stores by 3.2%, owning approximately 33,797 shares valued at about $14.67 million after the sale.
• The recent quarterly earnings report highlighted a strong performance with $2.63 EPS, surpassing the consensus estimate of $1.94, and a revenue of $3.99 billion, up 10.9% year-over-year.
• Casey's General Stores announced an increase in its quarterly dividend to $0.57 per share, up from the previous $0.50, reflecting a 0.5% yield and a payout ratio of 15.57%.

Aptus Capital Advisors LLC lessened its position in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 3.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 33,797 shares of the company's stock after selling 1,106 shares during the quarter. Aptus Capital Advisors LLC owned approximately 0.09% of Casey's General Stores worth $14,669,000 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. Natixis raised its stake in shares of Casey's General Stores by 21.9% during the 4th quarter. Natixis now owns 8,337 shares of the company's stock worth $3,303,000 after buying an additional 1,499 shares during the last quarter. Integrated Wealth Concepts LLC increased its position in Casey's General Stores by 50.2% during the 4th quarter. Integrated Wealth Concepts LLC now owns 2,592 shares of the company's stock worth $1,027,000 after purchasing an additional 866 shares in the last quarter. Security National Bank increased its position in Casey's General Stores by 9.7% during the 1st quarter. Security National Bank now owns 5,674 shares of the company's stock worth $2,463,000 after purchasing an additional 504 shares in the last quarter. Cornerstone Wealth Management LLC purchased a new stake in Casey's General Stores during the 1st quarter worth about $201,000. Finally, M&T Bank Corp increased its position in Casey's General Stores by 39.6% during the 1st quarter. M&T Bank Corp now owns 2,515 shares of the company's stock worth $1,092,000 after purchasing an additional 713 shares in the last quarter. Institutional investors and hedge funds own 85.63% of the company's stock.

Analyst Upgrades and Downgrades

CASY has been the subject of a number of recent research reports. KeyCorp lifted their price objective on Casey's General Stores from $550.00 to $575.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Stephens reiterated 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. The Goldman Sachs Group lifted their price objective on Casey's General Stores from $385.00 to $450.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 11th. Wall Street Zen upgraded Casey's General Stores from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Finally, Royal Bank Of Canada lifted their price target on Casey's General Stores from $468.00 to $542.00 and gave the company a "sector perform" rating in a report on Wednesday, July 9th. Eight analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $467.33.

Casey's General Stores Trading Down 1.4%

Shares of NASDAQ CASY traded down $6.92 during midday trading on Friday, hitting $503.26. The stock had a trading volume of 301,761 shares, compared to its average volume of 229,882. The company has a market capitalization of $18.71 billion, a price-to-earnings ratio of 34.38 and a beta of 0.69. Casey's General Stores, Inc. has a 1-year low of $350.52 and a 1-year high of $531.24. The company has a quick ratio of 0.48, a current ratio of 0.92 and a debt-to-equity ratio of 0.69. The company has a fifty day moving average price of $515.09 and a 200 day moving average price of $463.23.

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

Casey's General Stores Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were paid a $0.57 dividend. 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 an increase from Casey's General Stores's previous quarterly dividend of $0.50. Casey's General Stores's dividend payout ratio is presently 15.57%.

Insiders Place Their Bets

In other news, insider Katrina S. Lindsey sold 2,000 shares of Casey's General Stores stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $506.07, for a total value of $1,012,140.00. Following the transaction, the insider directly owned 4,636 shares of the company's stock, valued at $2,346,140.52. The trade was a 30.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Darren M. Rebelez sold 20,000 shares of the business's stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 89,840 shares in the company, valued at $45,623,447.20. This trade represents a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,646 shares of company stock worth $22,136,614. 0.54% of the stock is owned by insiders.

About Casey's General Stores

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.