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

Key Points

• HighTower Advisors LLC has reduced its stake in Casey's General Stores by 4.3%, selling 582 shares and now holding 13,077 shares worth approximately $5.68 million.
• Casey's General Stores reported quarterly earnings of $2.63 per share, exceeding analysts' expectations, along with a year-over-year revenue increase of 10.9% to $3.99 billion.
• The company recently increased its quarterly dividend from $0.50 to $0.57, reflecting a positive change and a current yield of 0.4%.

HighTower Advisors LLC reduced its holdings in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 4.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 13,077 shares of the company's stock after selling 582 shares during the quarter. HighTower Advisors LLC's holdings in Casey's General Stores were worth $5,676,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc acquired a new position in Casey's General Stores in the 1st quarter valued at approximately $25,000. Global Financial Private Client LLC increased its position 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 acquiring an additional 52 shares during the period. Iron Horse Wealth Management LLC increased 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 acquiring an additional 26 shares during the period. Whipplewood Advisors LLC increased its position in Casey's General Stores by 160.0% in the 1st quarter. Whipplewood Advisors LLC now owns 117 shares of the company's stock valued at $51,000 after acquiring an additional 72 shares during the period. Finally, Wayfinding Financial LLC acquired a new position in Casey's General Stores in the 1st quarter valued at approximately $59,000. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Casey's General Stores

In other news, insider Thomas P. Brennan, Jr. sold 6,600 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $506.03, for a total value of $3,339,798.00. Following the transaction, the insider owned 2,100 shares in the company, valued at $1,062,663. This represents a 75.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Darren M. Rebelez sold 20,000 shares of Casey's General Stores stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $507.83, for a total transaction of $10,156,600.00. Following the sale, the chief executive officer owned 89,840 shares in the company, valued at approximately $45,623,447.20. The trade was a 18.21% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,646 shares of company stock worth $22,136,614. 0.54% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on CASY shares. KeyCorp upped their price target on shares of 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. BMO Capital Markets increased their price objective 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. Wall Street Zen upgraded shares of Casey's General Stores from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Stephens reissued an "overweight" rating and set a $490.00 target price on shares of Casey's General Stores in a research note on Tuesday, June 10th. Finally, The Goldman Sachs Group raised their price objective on shares of Casey's General Stores from $385.00 to $450.00 and gave the company a "neutral" rating in a research note on Wednesday, June 11th. Eight analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $467.33.

Casey's General Stores Trading Down 1.4%

Shares of CASY traded down $6.92 during mid-day trading on Friday, reaching $503.26. The company's stock had a trading volume of 301,761 shares, compared to its average volume of 229,882. The stock has a market cap of $18.71 billion, a PE ratio of 34.38 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. Casey's General Stores, Inc. has a 52 week low of $350.52 and a 52 week high of $531.24. The company's fifty day moving average price is $515.09 and its two-hundred day moving average price is $463.23.

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

Casey's General Stores Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were paid a dividend of $0.57 per share. The ex-dividend date was Friday, August 1st. This represents a $2.28 annualized dividend and a 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 (DPR) is currently 15.57%.

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.