Janus Henderson Group PLC Sells 79,681 Shares of Casey's General Stores, Inc. $CASY

Key Points

• Janus Henderson reduced its Casey’s stake by 17.8%, selling 79,681 shares and retaining 369,218 shares worth approximately $268.7 million. Institutional investors collectively own 85.63% of the company.
• Casey’s reported stronger-than-expected quarterly results, with earnings of $4.37 per share and revenue of $4.57 billion; revenue increased 14.5% year over year. The company also raised its quarterly dividend to $0.65 per share.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $944.20 versus the stock’s reported $867.50 price. However, company insiders sold more than $24.4 million in shares over the past three months.

Janus Henderson Group PLC lessened its stake in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 17.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 369,218 shares of the company's stock after selling 79,681 shares during the quarter. Janus Henderson Group PLC owned about 1.00% of Casey's General Stores worth $268,739,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in CASY. Kathmere Capital Management LLC grew its position in Casey's General Stores by 3.5% in the 1st quarter. Kathmere Capital Management LLC now owns 387 shares of the company's stock worth $282,000 after purchasing an additional 13 shares during the period. Pinnacle Bancorp Inc. lifted its holdings in shares of Casey's General Stores by 4.8% during the 1st quarter. Pinnacle Bancorp Inc. now owns 303 shares of the company's stock valued at $221,000 after buying an additional 14 shares during the period. Menard Financial Group LLC lifted its holdings in shares of Casey's General Stores by 1.2% during the 4th quarter. Menard Financial Group LLC now owns 1,267 shares of the company's stock valued at $700,000 after buying an additional 15 shares during the period. Cibc World Market Inc. lifted its holdings in shares of Casey's General Stores by 0.3% during the 4th quarter. Cibc World Market Inc. now owns 5,136 shares of the company's stock valued at $2,839,000 after buying an additional 16 shares during the period. Finally, FSB Premier Wealth Management Inc. boosted its stake in shares of Casey's General Stores by 0.8% in the 4th quarter. FSB Premier Wealth Management Inc. now owns 2,338 shares of the company's stock worth $1,292,000 after buying an additional 18 shares during the last quarter. 85.63% of the stock is currently owned by institutional investors.

Casey's General Stores Price Performance

NASDAQ CASY opened at $867.50 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59. Casey's General Stores, Inc. has a 12 month low of $490.00 and a 12 month high of $927.85. The stock has a market cap of $32.11 billion, a price-to-earnings ratio of 45.28, a PEG ratio of 2.60 and a beta of 0.62. The company's 50 day moving average is $822.86 and its two-hundred day moving average is $751.53.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, topping analysts' consensus estimates of $3.31 by $1.06. The business had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.33 billion. Casey's General Stores had a net margin of 4.07% and a return on equity of 18.73%. The company's revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.63 earnings per share. As a group, research analysts anticipate that Casey's General Stores, Inc. will post 21.14 earnings per share for the current year.

Casey's General Stores Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Saturday, August 1st will be paid a dividend of $0.65 per share. This is a positive change from Casey's General Stores's previous quarterly dividend of $0.57. The ex-dividend date is Friday, July 31st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.3%. Casey's General Stores's dividend payout ratio is presently 11.90%.

Insider Buying and Selling

In other Casey's General Stores news, Director Allison M. Wing sold 530 shares of the stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $837.58, for a total value of $443,917.40. Following the completion of the sale, the director owned 3,042 shares in the company, valued at approximately $2,547,918.36. This represents a 14.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $838.16, for a total value of $4,777,512.00. Following the completion of the sale, the chief financial officer owned 29,677 shares of the company's stock, valued at $24,874,074.32. The trade was a 16.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 30,243 shares of company stock worth $24,421,877 in the last three months. Corporate insiders own 0.67% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on CASY shares. 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 report on Monday, July 13th. UBS Group increased their target price on Casey's General Stores from $805.00 to $945.00 and gave the company a "neutral" rating in a report on Thursday, June 11th. William Blair initiated coverage on Casey's General Stores in a research report on Wednesday, May 20th. They issued an "outperform" rating on the stock. Royal Bank Of Canada restated a "sector perform" rating and set a $913.00 price target on shares of Casey's General Stores in a research note on Wednesday. Finally, Wolfe Research reaffirmed an "outperform" rating and set a $1,069.00 price target on shares of Casey's General Stores in a research report on Thursday, June 11th. Fourteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $944.20.

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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