LexAurum Advisors LLC Decreases Holdings in Casey's General Stores, Inc. $CASY

Key Points

• LexAurum Advisors LLC decreased its holdings in Casey's General Stores by 40.9%, selling 568 shares, leaving them with a total of 821 shares valued at $419,000 at the end of the last quarter.
• Several large investors, including Iron Horse Wealth Management and Thurston Springer Miller Herd & Titak Inc, have increased their stakes in Casey's General Stores, highlighting a trend of growing institutional investment in the company.
• Casey's General Stores reported $5.77 EPS for the quarter, surpassing estimates, and has announced a quarterly dividend of $0.57 per share, set to be paid on November 14th.

LexAurum Advisors LLC reduced its stake in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 40.9% during the second quarter, according to its most recent filing with the SEC. The fund owned 821 shares of the company's stock after selling 568 shares during the quarter. LexAurum Advisors LLC's holdings in Casey's General Stores were worth $419,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in CASY. Versant Capital Management Inc purchased a new position in Casey's General Stores in the first quarter valued at about $25,000. Summit Securities Group LLC bought a new stake in shares of Casey's General Stores in the 1st quarter worth approximately $32,000. Iron Horse Wealth Management LLC lifted its stake in Casey's General Stores by 40.0% in the first quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company's stock valued at $40,000 after purchasing an additional 26 shares during the last quarter. WPG Advisers LLC bought a new position in Casey's General Stores during the first quarter valued at $47,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in Casey's General Stores by 242.9% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 96 shares of the company's stock worth $49,000 after buying an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 85.63% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CASY shares. Royal Bank Of Canada upped their price target on Casey's General Stores from $468.00 to $542.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 9th. The Goldman Sachs Group upped their price objective on shares of Casey's General Stores from $450.00 to $490.00 and gave the company a "neutral" rating in a report on Wednesday, September 10th. KeyCorp lifted their target price on shares of Casey's General Stores from $550.00 to $575.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. 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. Finally, Jefferies Financial Group raised 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 report on Tuesday, September 9th. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $529.10.

Casey's General Stores Price Performance

Shares of NASDAQ:CASY opened at $565.32 on Wednesday. The company has a 50 day moving average of $524.20 and a 200 day moving average of $485.23. The company has a current ratio of 1.03, a quick ratio of 0.61 and a debt-to-equity ratio of 0.65. The stock has a market cap of $21.02 billion, a P/E ratio of 36.29 and a beta of 0.66. Casey's General Stores, Inc. has a 12 month low of $363.00 and a 12 month high of $571.57.

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

Casey's General Stores Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Saturday, November 1st will be given a dividend of $0.57 per share. 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 payout ratio is presently 14.63%.

Insiders Place Their Bets

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 sale, the insider owned 7,993 shares of the company's stock, valued at $4,439,312.20. This trade represents a 30.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.54% of the stock is owned by corporate insiders.

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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