Watchman Group Inc. Cuts Stock Position in Casey's General Stores, Inc. $CASY

Key Points

• Watchman Group Inc. reduced its holdings in Casey's General Stores by 22.5%, bringing its total to 8,926 shares valued at approximately $3.87 million as of the end of the first quarter.
• Casey's General Stores recently declared a quarterly dividend of $0.57, an increase from the previous $0.50, representing an annualized yield of 0.4%.
• Analysts have elevated their price targets for Casey's General Stores, with Goldman Sachs now setting a target of $450 and Royal Bank of Canada at $542, indicating strong confidence in the company's future performance.

Watchman Group Inc. reduced its position in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 22.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 8,926 shares of the company's stock after selling 2,595 shares during the period. Watchman Group Inc.'s holdings in Casey's General Stores were worth $3,874,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC increased its stake in shares of Casey's General Stores by 4.1% in the first quarter. Flagship Harbor Advisors LLC now owns 590 shares of the company's stock valued at $256,000 after purchasing an additional 23 shares during the period. Burns J W & Co. Inc. NY boosted its holdings in Casey's General Stores by 2.1% during the first quarter. Burns J W & Co. Inc. NY now owns 1,204 shares of the company's stock valued at $522,000 after purchasing an additional 25 shares in the last quarter. Sunbelt Securities Inc. increased its position in Casey's General Stores by 1.4% in the 1st quarter. Sunbelt Securities Inc. now owns 1,870 shares of the company's stock valued at $812,000 after acquiring an additional 26 shares in the last quarter. Iron Horse Wealth Management LLC lifted its stake in shares of 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 purchasing an additional 26 shares during the period. Finally, Menard Financial Group LLC raised its holdings in shares of Casey's General Stores by 2.1% during the first quarter. Menard Financial Group LLC now owns 1,290 shares of the company's stock worth $603,000 after acquiring an additional 27 shares during the period. Institutional investors and hedge funds own 85.63% of the company's stock.

Insider Buying and Selling

In other news, insider Katrina S. Lindsey sold 2,000 shares of the stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $506.07, for a total value of $1,012,140.00. Following the completion of the transaction, the insider owned 4,636 shares in the company, valued at approximately $2,346,140.52. This represents a 30.14% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Darren M. Rebelez sold 20,000 shares of the company's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $507.83, for a total value of $10,156,600.00. Following the transaction, the chief executive officer directly owned 89,840 shares in the company, valued at $45,623,447.20. This trade represents a 18.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,646 shares of company stock valued at $22,136,614 in the last ninety days. Company insiders own 0.54% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Royal Bank Of Canada increased their target price 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. Wall Street Zen raised Casey's General Stores from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Wells Fargo & Company raised their price objective on shares of Casey's General Stores from $460.00 to $540.00 and gave the company an "overweight" rating in a research report on Wednesday, June 11th. BMO Capital Markets increased their price objective on Casey's General Stores from $450.00 to $515.00 and gave the stock a "market perform" rating in a report on Wednesday, June 11th. Finally, KeyCorp upped their price target 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. Eight analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $467.33.

Casey's General Stores Trading Up 0.6%

Shares of NASDAQ CASY traded up $2.84 during trading on Tuesday, reaching $509.04. The stock had a trading volume of 164,083 shares, compared to its average volume of 350,314. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.48 and a current ratio of 0.92. Casey's General Stores, Inc. has a fifty-two week low of $350.52 and a fifty-two week high of $531.24. The business's 50-day moving average price is $514.43 and its 200-day moving average price is $461.35. The company has a market cap of $18.93 billion, a P/E ratio of 34.77 and a beta of 0.69.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its quarterly earnings results 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 during 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 business's revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.34 EPS. On average, equities research analysts predict that Casey's General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey's General Stores Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued a dividend of $0.57 per share. The ex-dividend date was Friday, August 1st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.4%. This is an increase from Casey's General Stores's previous quarterly dividend of $0.50. Casey's General Stores's payout ratio is 15.57%.

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.