KLP Kapitalforvaltning AS Sells 200 Shares of Casey’s General Stores, Inc. $CASY

KLP Kapitalforvaltning AS trimmed its position in Casey’s General Stores, Inc. (NASDAQ:CASY) by 2.5% in the second quarter, Holdings Channel reports. The fund owned 7,700 shares of the company’s stock after selling 200 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Casey’s General Stores were worth $3,929,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CASY. Wellington Management Group LLP increased its holdings in Casey’s General Stores by 190.6% in the first quarter. Wellington Management Group LLP now owns 1,244,311 shares of the company’s stock valued at $540,081,000 after purchasing an additional 816,110 shares during the period. JPMorgan Chase & Co. increased its holdings in Casey’s General Stores by 42.0% in the first quarter. JPMorgan Chase & Co. now owns 1,036,426 shares of the company’s stock valued at $449,851,000 after purchasing an additional 306,628 shares during the period. Third Point LLC acquired a new stake in Casey’s General Stores in the first quarter valued at $130,212,000. Nuveen LLC acquired a new stake in Casey’s General Stores in the first quarter valued at $76,467,000. Finally, Bank of New York Mellon Corp increased its holdings in Casey’s General Stores by 51.5% in the first quarter. Bank of New York Mellon Corp now owns 515,603 shares of the company’s stock valued at $223,792,000 after purchasing an additional 175,372 shares during the period. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. BMO Capital Markets increased their price objective on Casey’s General Stores from $515.00 to $540.00 and gave the company a “market perform” rating in a report on Wednesday, September 10th. Wells Fargo & Company increased their price objective on Casey’s General Stores from $540.00 to $580.00 and gave the company an “overweight” rating in a report on Monday, September 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Casey’s General Stores in a report on Wednesday. The Goldman Sachs Group increased their price target on Casey’s General Stores from $450.00 to $490.00 and gave the stock a “neutral” rating in a report on Wednesday, September 10th. Finally, Wall Street Zen upgraded Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Saturday, June 14th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $533.10.

Casey’s General Stores Stock Performance

Shares of Casey’s General Stores stock opened at $556.67 on Friday. 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 $529.63 and a two-hundred day moving average price of $493.25. Casey’s General Stores, Inc. has a 1-year low of $372.08 and a 1-year high of $571.57. The company has a market cap of $20.70 billion, a P/E ratio of 35.73 and a beta of 0.68.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Monday, September 8th. The company reported $5.77 earnings per share for the quarter, topping analysts’ consensus estimates of $5.02 by $0.75. The firm had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.47 billion. Casey’s General Stores had a return on equity of 16.73% and a net margin of 3.54%.The business’s revenue was up 11.5% compared to the same quarter last year. During the same period last year, the business posted $4.83 EPS. As a group, analysts anticipate that Casey’s General Stores, Inc. will post 13.94 EPS for the current year.

Casey’s General Stores Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Saturday, November 1st will be given 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, October 31st. Casey’s General Stores’s dividend payout ratio is 14.63%.

Insider Activity

In other news, insider Chad Michael Frazell sold 3,487 shares of the stock in a transaction dated 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 transaction, the insider owned 7,993 shares of the company’s stock, valued at $4,439,312.20. This represents a 30.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.54% of the stock is owned by company insiders.

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.