Segall Bryant & Hamill LLC Reduces Holdings in Casey’s General Stores, Inc. $CASY

Segall Bryant & Hamill LLC trimmed its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 35.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 24,083 shares of the company’s stock after selling 13,142 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Casey’s General Stores were worth $17,529,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its position in Casey’s General Stores by 179,938.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,659,164 shares of the company’s stock worth $1,469,747,000 after acquiring an additional 2,657,687 shares during the period. Norges Bank bought a new stake in shares of Casey’s General Stores during the 4th quarter valued at $265,163,000. Franklin Resources Inc. grew its position in shares of Casey’s General Stores by 40.9% during the 4th quarter. Franklin Resources Inc. now owns 1,068,682 shares of the company’s stock valued at $590,671,000 after acquiring an additional 310,470 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Casey’s General Stores by 175.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 471,536 shares of the company’s stock worth $260,622,000 after purchasing an additional 300,249 shares in the last quarter. Finally, Corient Private Wealth LLC increased its stake in shares of Casey’s General Stores by 115.9% in the 4th quarter. Corient Private Wealth LLC now owns 423,666 shares of the company’s stock worth $234,164,000 after purchasing an additional 227,403 shares in the last quarter. 85.63% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Casey’s General Stores

In related news, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $838.16, for a total transaction of $4,777,512.00. Following the completion of the sale, the chief financial officer owned 29,677 shares in the company, valued at approximately $24,874,074.32. This trade represents a 16.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Katrina S. Lindsey sold 2,000 shares of Casey’s General Stores stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $800.00, for a total value of $1,600,000.00. Following the sale, the insider directly owned 6,668 shares in the company, valued at $5,334,400. This trade represents a 23.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 30,243 shares of company stock valued at $24,421,877. 0.67% of the stock is owned by corporate insiders.

Casey’s General Stores Stock Performance

Shares of NASDAQ CASY opened at $871.00 on Friday. The stock has a market cap of $32.24 billion, a PE ratio of 45.46, a price-to-earnings-growth ratio of 2.61 and a beta of 0.62. Casey’s General Stores, Inc. has a 1 year low of $490.00 and a 1 year high of $927.85. The firm has a fifty day moving average price of $823.78 and a 200-day moving average price of $752.36. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.60.

Casey’s General Stores (NASDAQ:CASY) last released its earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates of $3.31 by $1.06. The company had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.33 billion. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. Casey’s General Stores’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.63 EPS. Equities analysts anticipate that Casey’s General Stores, Inc. will post 21.14 earnings per share for the current fiscal year.

Casey’s General Stores Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Saturday, August 1st will be given a $0.65 dividend. The ex-dividend date is Friday, July 31st. This is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.57. This represents a $2.60 annualized dividend and a dividend yield of 0.3%. Casey’s General Stores’s dividend payout ratio (DPR) is presently 11.90%.

Analyst Ratings Changes

Several research firms recently weighed in on CASY. Evercore reiterated an “outperform” rating and set a $990.00 target price on shares of Casey’s General Stores in a research report on Friday, June 12th. Zacks Research cut Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 5th. Weiss Ratings downgraded Casey’s General Stores from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, July 21st. William Blair started coverage on Casey’s General Stores in a research report on Wednesday, May 20th. They set an “outperform” rating on the stock. Finally, Northcoast Research raised Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $950.00 price objective on the stock in a research report on Monday, July 13th. Fourteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average 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.