Denali Advisors LLC Sells 68 Shares of Casey’s General Stores, Inc. $CASY

Denali Advisors LLC cut its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 2.0% in the second quarter, Holdings Channel reports. The fund owned 3,323 shares of the company’s stock after selling 68 shares during the period. Denali Advisors LLC’s holdings in Casey’s General Stores were worth $1,696,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Summit Securities Group LLC bought a new position in shares of Casey’s General Stores during the first quarter valued at $32,000. Iron Horse Wealth Management LLC lifted its holdings in shares of Casey’s General Stores by 40.0% during the first quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company’s stock valued at $40,000 after acquiring an additional 26 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Casey’s General Stores by 242.9% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 96 shares of the company’s stock valued at $49,000 after acquiring an additional 68 shares during the period. WPG Advisers LLC bought a new position in shares of Casey’s General Stores during the first quarter valued at $47,000. Finally, Wayfinding Financial LLC bought a new position in shares of Casey’s General Stores during the first quarter valued at $59,000. 85.63% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. KeyCorp lifted their price target on Casey’s General Stores from $550.00 to $575.00 and gave the company an “overweight” rating in a report on Friday, July 25th. Evercore ISI lifted their price target on Casey’s General Stores from $580.00 to $585.00 and gave the company an “outperform” rating in a report on Tuesday. Jefferies Financial Group lifted their price target 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. Wells Fargo & Company assumed coverage on Casey’s General Stores in a report on Wednesday, October 15th. They issued an “overweight” rating and a $610.00 price target for the company. Finally, Zacks Research raised Casey’s General Stores from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Casey’s General Stores currently has a consensus rating of “Moderate Buy” and an average price target of $536.60.

Insiders Place Their Bets

In other Casey’s General Stores news, insider Chad Michael Frazell sold 3,487 shares of the business’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $555.40, for a total transaction 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 approximately $4,439,312.20. The trade was a 30.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.54% of the company’s stock.

Casey’s General Stores Stock Performance

Shares of NASDAQ:CASY opened at $545.15 on Thursday. The stock has a market capitalization of $20.27 billion, a P/E ratio of 34.99 and a beta of 0.68. Casey’s General Stores, Inc. has a 1-year low of $372.08 and a 1-year high of $572.18. The company has a current ratio of 1.03, a quick ratio of 0.61 and a debt-to-equity ratio of 0.65. The business has a 50-day moving average price of $536.22 and a two-hundred day moving average price of $500.17.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Monday, September 8th. The company reported $5.77 earnings per share for the quarter, topping the consensus estimate 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 company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the business posted $4.83 EPS. Equities analysts predict 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 disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Saturday, November 1st will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Friday, October 31st. Casey’s General Stores’s payout ratio is currently 14.63%.

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.