Greenwood Capital Associates LLC Sells 356 Shares of Casey’s General Stores, Inc. $CASY

Greenwood Capital Associates LLC reduced its stake in Casey’s General Stores, Inc. (NASDAQ:CASY) by 18.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,565 shares of the company’s stock after selling 356 shares during the period. Greenwood Capital Associates LLC’s holdings in Casey’s General Stores were worth $799,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CASY. Samlyn Capital LLC raised its stake 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 buying an additional 76,673 shares during the period. Security National Bank increased its position in shares of Casey’s General Stores by 9.7% in the first quarter. Security National Bank now owns 5,674 shares of the company’s stock valued at $2,463,000 after acquiring an additional 504 shares during the last quarter. Cornerstone Wealth Management LLC bought a new position in Casey’s General Stores during the first quarter worth about $201,000. M&T Bank Corp grew its holdings in Casey’s General Stores by 39.6% during the first 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 bought a new position in Casey’s General Stores during the first quarter worth about $338,000. 85.63% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CASY. Royal Bank Of Canada boosted 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. Wells Fargo & Company boosted their price objective on Casey’s General Stores from $540.00 to $580.00 and gave the stock an “overweight” rating in a report on Monday, September 8th. BMO Capital Markets boosted their price objective on Casey’s General Stores from $515.00 to $540.00 and gave the stock a “market perform” rating in a report on Wednesday, September 10th. KeyCorp boosted their price objective 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. Finally, Stephens restated an “overweight” rating and set a $530.00 price objective on shares of Casey’s General Stores in a report on Tuesday, September 9th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Casey’s General Stores currently has an average rating of “Moderate Buy” and a consensus price target of $529.10.

Casey’s General Stores Stock Up 1.1%

Shares of CASY opened at $567.48 on Friday. Casey’s General Stores, Inc. has a one year low of $366.00 and a one year high of $571.57. The company has a market cap of $21.10 billion, a P/E ratio of 36.42 and a beta of 0.68. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.03 and a quick ratio of 0.61. The firm has a 50 day simple moving average of $526.40 and a two-hundred day simple moving average of $488.11.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Monday, September 8th. The company reported $5.77 EPS for the quarter, beating the consensus estimate of $5.02 by $0.75. Casey’s General Stores had a net margin of 3.54% and a return on equity of 16.73%. The business had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.47 billion. During the same period in the previous year, the business earned $4.83 earnings per share. The company’s revenue was up 11.5% on a year-over-year basis. Research analysts forecast that Casey’s General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey’s General Stores Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders 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 currently 14.63%.

Insider Activity

In other news, insider Chad Michael Frazell sold 3,487 shares of the company’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $555.40, for a total transaction of $1,936,679.80. Following the completion of the transaction, the insider directly owned 7,993 shares in the company, valued at approximately $4,439,312.20. This represents a 30.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.54% of the company’s stock.

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.