Cwm LLC Cuts Stock Position in Casey's General Stores, Inc. (NASDAQ:CASY)

CWM LLC decreased its stake in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 58.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,160 shares of the company's stock after selling 7,161 shares during the period. CWM LLC's holdings in Casey's General Stores were worth $2,239,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CASY. GAMMA Investing LLC lifted its position in shares of Casey's General Stores by 54,448.8% in the first quarter. GAMMA Investing LLC now owns 543,852 shares of the company's stock worth $236,054,000 after purchasing an additional 542,855 shares in the last quarter. Norges Bank purchased a new stake in Casey's General Stores in the 4th quarter worth approximately $175,607,000. Wellington Management Group LLP lifted its position in Casey's General Stores by 160.1% in the 4th quarter. Wellington Management Group LLP now owns 428,201 shares of the company's stock worth $169,666,000 after buying an additional 263,545 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Casey's General Stores by 51.5% during the 1st quarter. Bank of New York Mellon Corp now owns 515,603 shares of the company's stock valued at $223,792,000 after buying an additional 175,372 shares during the period. Finally, Franklin Resources Inc. grew its holdings in shares of Casey's General Stores by 29.5% during the 4th quarter. Franklin Resources Inc. now owns 678,778 shares of the company's stock valued at $268,952,000 after acquiring an additional 154,541 shares in the last quarter. 85.63% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Mike Spanos purchased 200 shares of Casey's General Stores stock in a transaction on Monday, June 30th. The stock was acquired at an average price of $503.18 per share, for a total transaction of $100,636.00. Following the completion of the transaction, the director directly owned 3,560 shares in the company, valued at $1,791,320.80. This represents a 5.95% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Katrina S. Lindsey sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $506.07, for a total value of $1,012,140.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,646 shares of company stock worth $22,136,614 in the last three months. Insiders own 0.56% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CASY shares. Wells Fargo & Company boosted their price target on Casey's General Stores from $460.00 to $540.00 and gave the company an "overweight" rating in a research note on Wednesday, June 11th. BMO Capital Markets boosted their target price on shares of Casey's General Stores from $450.00 to $515.00 and gave the stock a "market perform" rating in a research report on Wednesday, June 11th. Royal Bank Of Canada increased their price target on shares of Casey's General Stores from $468.00 to $542.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 9th. Stephens reaffirmed an "overweight" rating and issued a $490.00 price objective on shares of Casey's General Stores in a research note on Tuesday, June 10th. Finally, Evercore ISI increased their target price on shares of Casey's General Stores from $450.00 to $460.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $465.25.

Casey's General Stores Stock Up 1.0%

Shares of NASDAQ CASY traded up $5.16 during mid-day trading on Tuesday, hitting $523.42. The company had a trading volume of 264,433 shares, compared to its average volume of 306,782. Casey's General Stores, Inc. has a one year low of $350.52 and a one year high of $526.82. The company has a market capitalization of $19.46 billion, a PE ratio of 35.75 and a beta of 0.69. The company has a current ratio of 0.92, a quick ratio of 0.48 and a debt-to-equity ratio of 0.69. The firm has a 50-day simple moving average of $483.00 and a two-hundred day simple moving average of $444.03.

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 (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.95 billion. During the same quarter in the prior year, the company earned $2.34 earnings per share. The business's revenue for the quarter was up 10.9% compared to the same quarter last year. On average, equities analysts expect 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 disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be given a $0.57 dividend. The ex-dividend date is Friday, August 1st. This represents a $2.28 annualized dividend and a yield of 0.44%. This is a boost from Casey's General Stores's previous quarterly dividend of $0.50. Casey's General Stores's payout ratio is currently 13.66%.

Casey's General Stores Company 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.