Concurrent Investment Advisors LLC lessened its position in Casey’s General Stores, Inc. (NASDAQ:CASY – Free Report) by 4.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,964 shares of the company’s stock after selling 81 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Casey’s General Stores were worth $1,002,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Samlyn Capital LLC increased its holdings in Casey’s General Stores by 42.8% during the 1st quarter. Samlyn Capital LLC now owns 255,659 shares of the company’s stock worth $110,966,000 after purchasing an additional 76,673 shares during the period. Security National Bank increased its holdings in Casey’s General Stores by 9.7% during the 1st quarter. Security National Bank now owns 5,674 shares of the company’s stock worth $2,463,000 after purchasing an additional 504 shares during the period. Cornerstone Wealth Management LLC purchased a new stake in Casey’s General Stores during the 1st quarter worth about $201,000. M&T Bank Corp increased its holdings in Casey’s General Stores by 39.6% during the 1st quarter. M&T Bank Corp now owns 2,515 shares of the company’s stock worth $1,092,000 after purchasing an additional 713 shares during the period. Finally, Ground Swell Capital LLC purchased a new stake in Casey’s General Stores during the 1st quarter worth about $338,000. Hedge funds and other institutional investors own 85.63% of the company’s stock.
Wall Street Analyst Weigh In
CASY has been the topic of several recent research reports. Evercore ISI upped their price target on Casey’s General Stores from $560.00 to $580.00 and gave the stock an “outperform” rating in a report on Wednesday, September 10th. The Goldman Sachs Group upped their price target on Casey’s General Stores from $450.00 to $490.00 and gave the stock a “neutral” rating in a report on Wednesday, September 10th. Wells Fargo & Company began coverage on Casey’s General Stores in a report on Wednesday. They issued an “overweight” rating and a $610.00 price objective on the stock. Jefferies Financial Group increased their price objective on Casey’s General Stores from $575.00 to $600.00 and gave the company a “buy” rating in a report on Tuesday, September 9th. Finally, BMO Capital Markets increased their price objective on Casey’s General Stores from $515.00 to $540.00 and gave the company a “market perform” rating in a report on Wednesday, September 10th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $536.10.
Casey’s General Stores Stock Up 0.5%
Shares of NASDAQ CASY opened at $564.17 on Thursday. The stock has a market cap of $20.98 billion, a PE ratio of 36.21 and a beta of 0.68. The company has a quick ratio of 0.61, a current ratio of 1.03 and a debt-to-equity ratio of 0.65. Casey’s General Stores, Inc. has a 52-week low of $372.08 and a 52-week high of $572.18. The business has a 50-day moving average price of $532.26 and a 200 day moving average price of $496.02.
Casey’s General Stores (NASDAQ:CASY – Get Free Report) last announced its earnings results on Monday, September 8th. The company reported $5.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.02 by $0.75. The firm had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.47 billion. Casey’s General Stores had a return on equity of 16.73% and a net margin of 3.54%.The business’s revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the firm earned $4.83 EPS. Equities research analysts forecast that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current year.
Casey’s General Stores Announces Dividend
The company 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 $0.57 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.4%. Casey’s General Stores’s dividend payout ratio is 14.63%.
Insider Activity
In related news, insider Chad Michael Frazell sold 3,487 shares of the company’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 completion of the sale, the insider directly owned 7,993 shares of the company’s stock, valued at $4,439,312.20. This represents a 30.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.54% of the stock is currently owned by company insiders.
Casey’s General Stores Company 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.
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