World Equity Group Inc. Sells 799 Shares of Casey’s General Stores, Inc. $CASY

World Equity Group Inc. trimmed its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 53.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 683 shares of the company’s stock after selling 799 shares during the period. World Equity Group Inc.’s holdings in Casey’s General Stores were worth $542,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Whipplewood Advisors LLC bought a new position in shares of Casey’s General Stores during the 1st quarter valued at about $33,000. RMG Wealth Management LLC increased its holdings in shares of Casey’s General Stores by 250.0% in the first quarter. RMG Wealth Management LLC now owns 56 shares of the company’s stock worth $41,000 after purchasing an additional 40 shares during the last quarter. Western Pacific Wealth Management LP bought a new stake in shares of Casey’s General Stores in the first quarter worth about $52,000. Larson Financial Group LLC lifted its position in shares of Casey’s General Stores by 252.4% in the fourth quarter. Larson Financial Group LLC now owns 74 shares of the company’s stock worth $41,000 after buying an additional 53 shares in the last quarter. Finally, Elyxium Wealth LLC bought a new position in Casey’s General Stores during the fourth quarter valued at approximately $43,000. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Stock Up 2.5%

Shares of CASY opened at $854.46 on Tuesday. The firm has a fifty day moving average price of $831.22 and a 200-day moving average price of $762.62. The company has a current ratio of 1.01, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $31.62 billion, a P/E ratio of 44.60, a P/E/G ratio of 2.50 and a beta of 0.61. Casey’s General Stores, Inc. has a 12-month low of $490.00 and a 12-month high of $927.85.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $4.33 billion. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. The firm’s revenue was up 14.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.63 EPS. Equities research analysts expect that Casey’s General Stores, Inc. will post 21.14 earnings per share for the current year.

Casey’s General Stores Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Saturday, August 1st will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $2.60 annualized dividend and a yield of 0.3%. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.57. Casey’s General Stores’s dividend payout ratio is currently 13.57%.

Insider Buying and Selling

In other news, Director Allison M. Wing sold 530 shares of the company’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $837.58, for a total transaction of $443,917.40. Following the transaction, the director owned 3,042 shares in the company, valued at $2,547,918.36. This represents a 14.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Darren M. Rebelez sold 19,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer owned 89,174 shares in the company, valued at approximately $71,469,394.04. This trade represents a 17.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 30,243 shares of company stock valued at $24,421,877 in the last 90 days. 0.67% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on CASY shares. UBS Group lifted their price objective on Casey’s General Stores from $805.00 to $945.00 and gave the stock a “neutral” rating in a research note on Thursday, June 11th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $1,000.00 target price on shares of Casey’s General Stores in a research report on Monday, June 15th. BMO Capital Markets raised shares of Casey’s General Stores from a “market perform” rating to an “outperform” rating and set a $950.00 target price for the company in a report on Monday, June 29th. BNP Paribas Exane reduced their price target on shares of Casey’s General Stores from $1,032.00 to $995.00 and set an “outperform” rating on the stock in a research report on Thursday, June 25th. Finally, Zacks Research cut shares of Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 5th. Fourteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $944.20.

Casey’s General Stores Profile

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.