Casey’s General Stores, Inc. $CASY Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lessened its holdings in Casey’s General Stores, Inc. (NASDAQ:CASY) by 15.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 43,872 shares of the company’s stock after selling 8,012 shares during the quarter. Wedge Capital Management L L P NC owned 0.12% of Casey’s General Stores worth $34,869,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Northwestern Mutual Wealth Management Co. raised its position in shares of Casey’s General Stores by 179,938.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,659,164 shares of the company’s stock valued at $1,469,747,000 after purchasing an additional 2,657,687 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Casey’s General Stores by 40.9% in the fourth quarter. Franklin Resources Inc. now owns 1,068,682 shares of the company’s stock valued at $590,671,000 after purchasing an additional 310,470 shares during the period. Geode Capital Management LLC increased its holdings in shares of Casey’s General Stores by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 760,438 shares of the company’s stock valued at $420,416,000 after purchasing an additional 52,250 shares in the last quarter. Invesco Ltd. grew its position in Casey’s General Stores by 12.6% during the fourth quarter. Invesco Ltd. now owns 572,152 shares of the company’s stock valued at $316,234,000 after buying an additional 64,154 shares during the period. Finally, Norges Bank purchased a new position in Casey’s General Stores in the fourth quarter valued at $265,163,000. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CASY shares. Stephens set a $975.00 target price on shares of Casey’s General Stores and gave the stock an “overweight” rating in a research note on Friday, June 12th. William Blair initiated coverage on Casey’s General Stores in a report on Wednesday, May 20th. They issued an “outperform” rating for the company. Wall Street Zen upgraded Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. UBS Group raised their price objective 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. Finally, Wolfe Research restated an “outperform” rating and issued a $1,069.00 price objective on shares of Casey’s General Stores in a research report on Thursday, June 11th. Fourteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Casey’s General Stores presently has a consensus rating of “Moderate Buy” and an average target price of $944.20.

Insider Buying and Selling at Casey’s General Stores

In other Casey’s General Stores news, Director Allison M. Wing sold 530 shares of the business’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $837.58, for a total transaction of $443,917.40. Following the completion of the transaction, the director owned 3,042 shares in the company, valued at $2,547,918.36. The trade was a 14.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Darren M. Rebelez sold 19,000 shares of the firm’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $801.46, for a total transaction of $15,227,740.00. Following the completion of the sale, the chief executive officer owned 89,174 shares in the company, valued at $71,469,394.04. The trade was a 17.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 30,243 shares of company stock valued at $24,421,877. 0.67% of the stock is currently owned by company insiders.

Casey’s General Stores Stock Down 2.9%

CASY opened at $829.91 on Wednesday. The company has a market cap of $30.71 billion, a PE ratio of 43.31, a price-to-earnings-growth ratio of 2.56 and a beta of 0.61. Casey’s General Stores, Inc. has a twelve month low of $490.00 and a twelve month high of $927.85. The company has a 50-day moving average price of $832.74 and a 200 day moving average price of $764.06. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, topping the consensus estimate of $3.31 by $1.06. The company had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.33 billion. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.Casey’s General Stores’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.63 EPS. Sell-side analysts expect that Casey’s General Stores, Inc. will post 21.14 earnings per share for the current fiscal year.

Casey’s General Stores Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Saturday, August 1st will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.3%. 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. Casey’s General Stores’s payout ratio is presently 13.57%.

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.