Harbor Capital Advisors Inc. Has $2.43 Million Holdings in Casey's General Stores, Inc. $CASY

Key Points

• Harbor Capital Advisors Inc. decreased its holdings in Casey's General Stores by 12.1% in Q2, selling 654 shares to own a total of 4,767 shares valued at approximately $2.43 million.
• Casey's General Stores reported better-than-expected earnings in Q4, with a net income of $5.77 per share against the consensus estimate of $5.02, and a revenue of $4.57 billion, surpassing analysts' expectations.
• The company announced a quarterly dividend of $0.57 per share, which will be paid on November 14th, reflecting a 0.4% annualized dividend yield.

Harbor Capital Advisors Inc. reduced its holdings in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 12.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,767 shares of the company's stock after selling 654 shares during the period. Harbor Capital Advisors Inc.'s holdings in Casey's General Stores were worth $2,432,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc acquired a new stake in Casey's General Stores in the 1st quarter valued at $25,000. Global Financial Private Client LLC increased its stake in Casey's General Stores by 325.0% in the 1st quarter. Global Financial Private Client LLC now owns 68 shares of the company's stock valued at $30,000 after buying an additional 52 shares during the last quarter. Summit Securities Group LLC acquired a new position in shares of Casey's General Stores during the 1st quarter worth about $32,000. Iron Horse Wealth Management LLC increased its stake in shares of Casey's General Stores by 40.0% during the 1st quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company's stock worth $40,000 after purchasing an additional 26 shares during the last quarter. Finally, WPG Advisers LLC acquired a new position in shares of Casey's General Stores during the 1st quarter worth about $47,000. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Casey's General Stores

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

Casey's General Stores Price Performance

CASY stock traded up $3.18 during trading on Friday, reaching $546.89. 594,195 shares of the company were exchanged, compared to its average volume of 420,680. The company has a 50-day moving average of $519.47 and a two-hundred day moving average of $477.42. The company has a market capitalization of $20.33 billion, a price-to-earnings ratio of 35.10 and a beta of 0.66. Casey's General Stores, Inc. has a twelve month low of $362.42 and a twelve month high of $571.57. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.03 and a quick ratio of 0.61.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its quarterly earnings data on Monday, September 8th. The company reported $5.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.02 by $0.75. Casey's General Stores had a net margin of 3.54% and a return on equity of 16.73%. The business had revenue of $4.57 billion during the quarter, compared to analysts' expectations of $4.47 billion. During the same period in the prior year, the company earned $4.83 EPS. The firm's quarterly revenue was up 11.5% compared to the same quarter last year. As a group, equities analysts predict that Casey's General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey's General Stores Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Saturday, November 1st will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 0.4%. The ex-dividend date is Friday, October 31st. Casey's General Stores's dividend payout ratio is 14.63%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CASY shares. Wall Street Zen upgraded shares of Casey's General Stores from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Jefferies Financial Group boosted their price objective on shares of Casey's General Stores from $575.00 to $600.00 and gave the stock a "buy" rating in a research note on Tuesday, September 9th. Stephens restated an "overweight" rating and set a $530.00 price objective on shares of Casey's General Stores in a research note on Tuesday, September 9th. BMO Capital Markets boosted their price objective on shares of Casey's General Stores from $515.00 to $540.00 and gave the stock a "market perform" rating in a research note on Wednesday, September 10th. Finally, Royal Bank Of Canada boosted their price objective 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. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $520.55.

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.