Orion Porfolio Solutions LLC Cuts Holdings in Casey’s General Stores, Inc. $CASY

Orion Porfolio Solutions LLC trimmed its position in Casey’s General Stores, Inc. (NASDAQ:CASY) by 9.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,621 shares of the company’s stock after selling 2,177 shares during the quarter. Orion Porfolio Solutions LLC’s holdings in Casey’s General Stores were worth $10,522,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CASY. Wellington Management Group LLP grew its holdings in Casey’s General Stores by 190.6% during the 1st quarter. Wellington Management Group LLP now owns 1,244,311 shares of the company’s stock valued at $540,081,000 after buying an additional 816,110 shares in the last quarter. Norges Bank bought a new position in shares of Casey’s General Stores during the 2nd quarter valued at approximately $210,151,000. Third Point LLC purchased a new position in shares of Casey’s General Stores in the first quarter valued at $130,212,000. Invesco Ltd. grew its holdings in shares of Casey’s General Stores by 71.7% in the second quarter. Invesco Ltd. now owns 483,907 shares of the company’s stock valued at $246,923,000 after purchasing an additional 202,033 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in Casey’s General Stores by 4,224.4% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 174,705 shares of the company’s stock valued at $89,147,000 after purchasing an additional 170,665 shares in the last quarter. 85.63% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Royal Bank Of Canada lifted their price objective on shares of Casey’s General Stores from $570.00 to $591.00 and gave the stock a “sector perform” rating in a research note on Wednesday, December 10th. Evercore ISI increased their price target on shares of Casey’s General Stores from $585.00 to $610.00 and gave the company an “outperform” rating in a report on Tuesday, December 2nd. The Goldman Sachs Group reissued a “neutral” rating and set a $530.00 price objective on shares of Casey’s General Stores in a research note on Wednesday. Stephens raised their price objective on Casey’s General Stores from $570.00 to $600.00 and gave the company an “overweight” rating in a research note on Wednesday, December 3rd. Finally, KeyCorp reiterated an “overweight” rating on shares of Casey’s General Stores in a report on Thursday. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Casey’s General Stores has a consensus rating of “Moderate Buy” and an average price target of $585.67.

Casey’s General Stores Stock Down 0.5%

Shares of NASDAQ:CASY opened at $540.07 on Monday. The firm has a market capitalization of $20.02 billion, a PE ratio of 33.21 and a beta of 0.65. The business has a 50 day simple moving average of $547.73 and a two-hundred day simple moving average of $525.92. Casey’s General Stores, Inc. has a 1 year low of $372.08 and a 1 year high of $573.76. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.05 and a quick ratio of 0.65.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Tuesday, December 9th. The company reported $5.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.92 by $0.61. Casey’s General Stores had a return on equity of 16.89% and a net margin of 3.58%.The firm had revenue of $4.51 billion during the quarter, compared to analyst estimates of $4.51 billion. During the same period last year, the company earned $4.85 EPS. Casey’s General Stores’s quarterly revenue was up 14.2% compared to the same quarter last year. On average, equities analysts predict that Casey’s General Stores, Inc. will post 13.94 EPS for the current year.

Casey’s General Stores Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Sunday, February 1st will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, January 30th. Casey’s General Stores’s payout ratio is currently 14.02%.

Insider Activity at Casey’s General Stores

In related news, insider Chad Michael Frazell sold 3,487 shares of the firm’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $555.40, for a total value of $1,936,679.80. Following the transaction, the insider owned 7,993 shares of the company’s stock, valued at $4,439,312.20. This trade represents a 30.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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.