Oppenheimer Asset Management Inc. Cuts Holdings in Casey’s General Stores, Inc. $CASY

Oppenheimer Asset Management Inc. lessened its stake in Casey’s General Stores, Inc. (NASDAQ:CASY) by 5.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,921 shares of the company’s stock after selling 292 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Casey’s General Stores were worth $2,511,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CASY. Focus Partners Advisor Solutions LLC boosted its stake in shares of Casey’s General Stores by 8.8% in the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 5,668 shares of the company’s stock valued at $2,892,000 after purchasing an additional 459 shares in the last quarter. AlphaQuest LLC purchased a new stake in shares of Casey’s General Stores in the 2nd quarter valued at $211,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Casey’s General Stores in the 2nd quarter valued at $42,000. Carnegie Investment Counsel boosted its stake in shares of Casey’s General Stores by 2.2% in the 2nd quarter. Carnegie Investment Counsel now owns 45,617 shares of the company’s stock valued at $23,277,000 after purchasing an additional 992 shares in the last quarter. Finally, FSM Wealth Advisors LLC purchased a new stake in shares of Casey’s General Stores in the 2nd quarter valued at $233,000. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Stock Down 0.6%

Shares of NASDAQ CASY opened at $529.09 on Thursday. The company has a current ratio of 1.03, a quick ratio of 0.61 and a debt-to-equity ratio of 0.65. Casey’s General Stores, Inc. has a 12 month low of $372.08 and a 12 month high of $572.18. The firm has a market capitalization of $19.67 billion, a PE ratio of 33.96 and a beta of 0.68. The firm has a fifty day simple moving average of $538.56 and a two-hundred day simple moving average of $504.62.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Monday, September 8th. The company reported $5.77 EPS for the quarter, topping the consensus estimate of $5.02 by $0.75. Casey’s General Stores had a net margin of 3.54% and a return on equity of 16.73%. The business had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.47 billion. During the same period in the prior year, the business earned $4.83 EPS. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. Equities analysts expect that Casey’s General Stores, Inc. will post 13.94 earnings per share 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. Shareholders of record on Saturday, November 1st will be issued a $0.57 dividend. The ex-dividend date is Friday, October 31st. This represents a $2.28 annualized dividend and a yield of 0.4%. Casey’s General Stores’s dividend payout ratio is 14.63%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CASY shares. Royal Bank Of Canada upped their price objective on shares of Casey’s General Stores from $468.00 to $542.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 9th. Evercore ISI upped their price target on shares of Casey’s General Stores from $580.00 to $585.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. Stephens reiterated an “overweight” rating and set a $570.00 price target on shares of Casey’s General Stores in a report on Wednesday, October 8th. The Goldman Sachs Group upped their price target on shares of 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, Jefferies Financial Group upped their price target on shares of Casey’s General Stores from $575.00 to $600.00 and gave the company a “buy” rating in a report on Tuesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $536.60.

Insider Buying and Selling

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

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.