Casey's General Stores, Inc. $CASY Stock Sold by Redmond Asset Management LLC

Key Points

• Redmond Asset Management reduced its Casey’s General Stores position by 68.3% in the third quarter, selling 2,376 shares and retaining 1,104 shares valued at approximately $672,000. Institutional investors collectively own 85.63% of the company.
• Casey’s reported quarterly adjusted earnings of $7.37 per share, beating estimates of $6.78, while revenue rose 24.3% year over year to $5.68 billion. Analysts expect $21.61 in full-year EPS.
• The company declared a quarterly dividend of $0.65, or $2.60 annually, representing a 0.4% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $835.38, compared with the stock’s reported price of $670.02.

Redmond Asset Management LLC decreased its position in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 68.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,104 shares of the company's stock after selling 2,376 shares during the quarter. Redmond Asset Management LLC's holdings in Casey's General Stores were worth $672,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in CASY. Fiduciary Financial Advisors acquired a new stake in shares of Casey's General Stores in the second quarter worth approximately $26,000. Bell Investment Advisors Inc purchased a new stake in Casey's General Stores during the 2nd quarter worth $33,000. Anchor Investment Management LLC raised its holdings in shares of Casey's General Stores by 72.0% during the 2nd quarter. Anchor Investment Management LLC now owns 43 shares of the company's stock valued at $34,000 after buying an additional 18 shares during the period. Caitlin John LLC acquired a new stake in Casey's General Stores in the second quarter valued at approximately $35,000. Finally, Whipplewood Advisors LLC purchased a new position in Casey's General Stores in the first quarter valued at about $33,000. Hedge funds and other institutional investors own 85.63% of the company's stock.

Casey's General Stores Price Performance

CASY stock opened at $670.02 on Thursday. The company has a current ratio of 1.02, a quick ratio of 0.61 and a debt-to-equity ratio of 0.57. Casey's General Stores, Inc. has a one year low of $497.38 and a one year high of $927.85. The firm has a market capitalization of $24.76 billion, a PE ratio of 32.27, a P/E/G ratio of 2.26 and a beta of 0.59. The firm has a 50-day moving average of $678.78 and a two-hundred day moving average of $738.93.

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

Casey's General Stores Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Sunday, November 1st will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Friday, October 30th. Casey's General Stores's dividend payout ratio is 12.52%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. William Blair reiterated an "outperform" rating on shares of Casey's General Stores in a research note on Wednesday, September 16th. BMO Capital Markets set a $810.00 target price on Casey's General Stores in a research note on Thursday, September 10th. Wells Fargo & Company decreased their target price on Casey's General Stores from $960.00 to $750.00 and set an "overweight" rating for the company in a research note on Wednesday, September 9th. Royal Bank Of Canada raised Casey's General Stores from a "sector perform" rating to an "outperform" rating and lowered their target price for the stock from $910.00 to $825.00 in a report on Thursday, October 15th. Finally, Wall Street Zen cut shares of Casey's General Stores from a "buy" rating to a "hold" rating in a research report on Saturday, September 12th. Sixteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $835.38.

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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