Integrity Alliance LLC. Sells 3,719 Shares of Casey's General Stores, Inc. $CASY

Key Points

• Integrity Alliance cut its Casey’s stake by 43.9% in the third quarter, selling 3,719 shares and retaining 4,757 shares valued at about $2.9 million. Institutional investors collectively own 85.63% of the company.
• Analysts give the stock a “Moderate Buy” consensus, with an average price target of $835.38; 16 rate it Buy and five rate it Hold.
• Casey’s quarterly results topped expectations: EPS was $7.37 versus a $6.78 estimate, while revenue rose 24.3% year over year to $5.68 billion. The company also declared a $0.65 quarterly dividend.

Integrity Alliance LLC. cut its holdings in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 43.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,757 shares of the company's stock after selling 3,719 shares during the quarter. Integrity Alliance LLC.'s holdings in Casey's General Stores were worth $2,895,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. First Nebraska Trust Co purchased a new stake in Casey's General Stores in the third quarter valued at $713,000. Torray Investment Partners LLC raised its position in Casey's General Stores by 1.2% during the third quarter. Torray Investment Partners LLC now owns 16,981 shares of the company's stock valued at $10,332,000 after acquiring an additional 197 shares in the last quarter. Welch Group LLC grew its position in Casey's General Stores by 133.3% during the third quarter. Welch Group LLC now owns 700 shares of the company's stock valued at $426,000 after buying an additional 400 shares during the period. Woodmont Investment Counsel LLC acquired a new stake in shares of Casey's General Stores during the 3rd quarter valued at about $956,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Casey's General Stores in the third quarter valued at approximately $5,792,000. Institutional investors and hedge funds own 85.63% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Northcoast Research raised Casey's General Stores from a "neutral" rating to a "buy" rating and set a $950.00 price objective for the company in a research note on Monday, July 13th. KeyCorp reduced their price objective on shares of Casey's General Stores from $970.00 to $780.00 and set an "overweight" rating on the stock in a report on Thursday, September 10th. Wells Fargo & Company lowered their target price on shares of 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. Stephens set a $750.00 price objective on shares of Casey's General Stores in a research report on Thursday, September 10th. Finally, JPMorgan Chase & Co. cut their target price on Casey's General Stores from $975.00 to $833.00 and set a "neutral" rating on the stock in a research report on Thursday, September 3rd. Sixteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $835.38.

Casey's General Stores Trading Up 1.4%

NASDAQ:CASY opened at $674.84 on Thursday. Casey's General Stores, Inc. has a 1 year low of $513.10 and a 1 year high of $927.85. The stock has a market cap of $24.94 billion, a P/E ratio of 32.51, a P/E/G ratio of 2.15 and a beta of 0.59. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.61 and a current ratio of 1.02. The stock has a 50-day simple moving average of $662.52 and a 200-day simple moving average of $740.48.

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

Casey's General Stores Announces Dividend

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

About Casey's General Stores

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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