Nisa Investment Advisors LLC Reduces Stock Position in Casey’s General Stores, Inc. $CASY

Nisa Investment Advisors LLC cut its stake in Casey’s General Stores, Inc. (NASDAQ:CASY) by 8.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,677 shares of the company’s stock after selling 893 shares during the period. Nisa Investment Advisors LLC’s holdings in Casey’s General Stores were worth $4,938,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Summit Securities Group LLC purchased a new stake in shares of Casey’s General Stores in the first quarter valued at approximately $32,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Casey’s General Stores in the second quarter valued at approximately $42,000. Iron Horse Wealth Management LLC grew its position in shares of Casey’s General Stores by 40.0% in the first quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company’s stock valued at $40,000 after purchasing an additional 26 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Casey’s General Stores by 242.9% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 96 shares of the company’s stock valued at $49,000 after purchasing an additional 68 shares in the last quarter. Finally, WPG Advisers LLC acquired a new position in Casey’s General Stores in the first quarter valued at approximately $47,000. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Casey’s General Stores

In other news, insider Chad Michael Frazell sold 3,487 shares of the company’s stock in a transaction on 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 sale, the insider owned 7,993 shares of the company’s stock, valued at approximately $4,439,312.20. This represents a 30.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.54% of the company’s stock.

Casey’s General Stores Stock Down 0.7%

NASDAQ:CASY opened at $532.38 on Wednesday. The company has a quick ratio of 0.61, a current ratio of 1.03 and a debt-to-equity ratio of 0.65. The stock’s fifty day moving average is $538.25 and its two-hundred day moving average is $504.12. Casey’s General Stores, Inc. has a 52 week low of $372.08 and a 52 week high of $572.18. The stock has a market capitalization of $19.79 billion, a price-to-earnings ratio of 34.17 and a beta of 0.68.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Monday, September 8th. The company reported $5.77 EPS for the quarter, topping analysts’ consensus estimates of $5.02 by $0.75. Casey’s General Stores had a return on equity of 16.73% and a net margin of 3.54%.The company had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.47 billion. During the same period in the prior year, the firm earned $4.83 earnings per share. The firm’s revenue was up 11.5% compared to the same quarter last year. Research analysts anticipate 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 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. The ex-dividend date of this dividend is Friday, October 31st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.4%. Casey’s General Stores’s dividend payout ratio is currently 14.63%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CASY shares. KeyCorp upped their price objective 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. Wells Fargo & Company started coverage on Casey’s General Stores in a report on Wednesday, October 15th. They issued an “overweight” rating and a $610.00 price objective on the stock. Stephens reiterated an “overweight” rating and issued a $570.00 price objective on shares of Casey’s General Stores in a report on Wednesday, October 8th. The Goldman Sachs Group upped their price objective on Casey’s General Stores from $450.00 to $490.00 and gave the company a “neutral” rating in a report on Wednesday, September 10th. Finally, Royal Bank Of Canada upped their price objective on Casey’s General Stores from $468.00 to $542.00 and gave the company a “sector perform” rating in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $536.60.

Casey’s General Stores Company 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.