Trust Point Inc. Has $479,000 Holdings in Casey's General Stores, Inc. $CASY

Key Points

• Trust Point Inc. has reduced its holdings in Casey's General Stores by 33.4%, now owning 939 shares valued at approximately $479,000.
• Several institutional investors, including Versant Capital Management and Global Financial Private Client, have recently increased their stakes in Casey's General Stores, which now has 85.63% of its stock owned by institutions.
• Casey's General Stores reported a strong earnings performance with an EPS of $5.77, surpassing estimates, and declared a quarterly dividend of $0.57 per share.

Trust Point Inc. decreased its position in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 33.4% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 939 shares of the company's stock after selling 471 shares during the period. Trust Point Inc.'s holdings in Casey's General Stores were worth $479,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc bought a new position in shares of Casey's General Stores during the 1st quarter worth approximately $25,000. Global Financial Private Client LLC increased its stake in Casey's General Stores by 325.0% during the first quarter. Global Financial Private Client LLC now owns 68 shares of the company's stock worth $30,000 after acquiring an additional 52 shares during the last quarter. Summit Securities Group LLC bought a new position in shares of Casey's General Stores during the 1st quarter worth $32,000. Iron Horse Wealth Management LLC boosted its stake 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 worth $40,000 after purchasing an additional 26 shares in the last quarter. Finally, WPG Advisers LLC acquired a new position in shares of Casey's General Stores during the 1st quarter worth approximately $47,000. Institutional investors own 85.63% of the company's stock.

Insiders Place Their Bets

In other news, Director Mike Spanos acquired 200 shares of the company's stock in a transaction on Monday, June 30th. The shares were bought at an average price of $503.18 per share, with a total value of $100,636.00. Following the completion of the acquisition, the director owned 3,560 shares in the company, valued at $1,791,320.80. This trade represents a 5.95% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Stephen P. Bramlage, Jr. sold 760 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $507.56, for a total value of $385,745.60. Following the completion of the sale, the chief financial officer directly owned 25,994 shares in the company, valued at approximately $13,193,514.64. The trade was a 2.84% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company's stock.

Casey's General Stores Price Performance

Shares of Casey's General Stores stock traded up $5.51 during trading on Tuesday, hitting $552.96. The stock had a trading volume of 44,181 shares, compared to its average volume of 358,791. The firm has a market cap of $20.56 billion, a price-to-earnings ratio of 35.49 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. The business's 50-day moving average is $519.96 and its 200 day moving average is $479.03. The company has a current ratio of 1.03, a quick ratio of 0.61 and a debt-to-equity ratio of 0.65.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its quarterly earnings data on Monday, September 8th. The company reported $5.77 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts' expectations of $4.47 billion. During the same period in the prior year, the firm posted $4.83 EPS. The firm's quarterly revenue was up 11.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Casey's General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey's General Stores Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Saturday, November 1st will be paid 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%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. KeyCorp upped their price target on Casey's General Stores from $550.00 to $575.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Wall Street Zen upgraded Casey's General Stores from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Jefferies Financial Group boosted their price target on shares of Casey's General Stores from $575.00 to $600.00 and gave the company a "buy" rating in a report on Tuesday, September 9th. Royal Bank Of Canada increased their price objective on Casey's General Stores from $468.00 to $542.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 9th. Finally, Wells Fargo & Company boosted their price objective 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. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Casey's General Stores currently has an average rating of "Moderate Buy" and an average price target of $529.10.

Casey's General Stores 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.