Highland Capital Management LLC Has $4.56 Million Stake in Casey's General Stores, Inc. $CASY

Key Points

• Highland Capital Management LLC reduced its stake in Casey's General Stores (NASDAQ: CASY) by 24.2%, trimming its holdings to 8,940 shares worth approximately $4.56 million as of the end of the second quarter.
• Institutional investors collectively own 85.63% of Casey's General Stores stock, with notable recent investments from firms like Versant Capital Management and Iron Horse Wealth Management.
• Casey's General Stores has received positive ratings from analysts, with multiple price target increases, including a new target of $580.00 from Wells Fargo, reflecting bullish sentiment for the company's growth.

Highland Capital Management LLC trimmed its position in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 24.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,940 shares of the company's stock after selling 2,860 shares during the quarter. Highland Capital Management LLC's holdings in Casey's General Stores were worth $4,562,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc acquired a new position in shares of Casey's General Stores during the first quarter worth approximately $25,000. Summit Securities Group LLC purchased a new stake in Casey's General Stores in the 1st quarter valued at $32,000. Iron Horse Wealth Management LLC raised its position in Casey's General Stores by 40.0% in the 1st quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company's stock valued at $40,000 after buying an additional 26 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in Casey's General Stores by 242.9% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 96 shares of the company's stock valued at $49,000 after buying an additional 68 shares during the last quarter. Finally, WPG Advisers LLC purchased a new stake in Casey's General Stores in the 1st quarter valued at $47,000. 85.63% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Casey's General Stores news, insider Chad Michael Frazell sold 3,487 shares of the firm's stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $555.40, for a total value of $1,936,679.80. Following the completion of the transaction, the insider owned 7,993 shares in the company, valued at $4,439,312.20. This trade represents a 30.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CASY has been the subject of a number of analyst reports. BMO Capital Markets increased their price target on Casey's General Stores from $515.00 to $540.00 and gave the company a "market perform" rating in a research report on Wednesday, September 10th. Stephens reissued an "overweight" rating and issued a $530.00 price target on shares of Casey's General Stores in a research report on Tuesday, September 9th. Wells Fargo & Company increased their price target on Casey's General Stores from $540.00 to $580.00 and gave the company an "overweight" rating in a research report on Monday, September 8th. Wall Street Zen raised Casey's General Stores from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Finally, KeyCorp increased their price target on Casey's General Stores from $550.00 to $575.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $529.10.

Casey's General Stores Stock Up 1.1%

Shares of NASDAQ CASY opened at $567.48 on Friday. Casey's General Stores, Inc. has a 52 week low of $366.00 and a 52 week high of $571.57. The business has a 50-day simple moving average of $526.40 and a two-hundred day simple moving average of $488.70. The company has a quick ratio of 0.61, a current ratio of 1.03 and a debt-to-equity ratio of 0.65. The company has a market cap of $21.10 billion, a P/E ratio of 36.42 and a beta of 0.68.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its earnings results on Monday, September 8th. The company reported $5.77 EPS for the quarter, topping the consensus estimate of $5.02 by $0.75. Casey's General Stores had a return on equity of 16.73% and a net margin of 3.54%.The business had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.47 billion. During the same quarter last year, the company earned $4.83 EPS. The firm's revenue was up 11.5% compared to the same quarter last year. Research analysts anticipate 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 business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Saturday, November 1st will be paid a $0.57 dividend. The ex-dividend date is Friday, October 31st. This represents a $2.28 annualized dividend and a yield of 0.4%. Casey's General Stores's dividend payout ratio (DPR) is currently 14.63%.

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.

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