Casey’s General Stores, Inc. $CASY Shares Sold by Bailard Inc.

Bailard Inc. trimmed its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 29.4% during the second quarter, Holdings Channel reports. The institutional investor owned 2,194 shares of the company’s stock after selling 915 shares during the quarter. Bailard Inc.’s holdings in Casey’s General Stores were worth $1,120,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new stake in shares of Casey’s General Stores in the 1st quarter valued at approximately $32,000. Nvwm LLC purchased a new stake in shares of Casey’s General Stores during the 2nd quarter worth $32,000. Rossby Financial LCC grew its stake in shares of Casey’s General Stores by 580.0% during the second quarter. Rossby Financial LCC now owns 68 shares of the company’s stock worth $35,000 after purchasing an additional 58 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Casey’s General Stores in the second quarter valued at $42,000. Finally, WPG Advisers LLC acquired a new stake in Casey’s General Stores in the first quarter valued at $47,000. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Stock Up 0.3%

Shares of NASDAQ CASY opened at $536.66 on Friday. The business has a 50-day moving average price of $544.72 and a 200 day moving average price of $509.67. The stock has a market cap of $19.95 billion, a PE ratio of 34.45 and a beta of 0.66. The company has a quick ratio of 0.61, a current ratio of 1.03 and a debt-to-equity ratio of 0.65. Casey’s General Stores, Inc. has a 52-week low of $372.08 and a 52-week high of $572.18.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Monday, September 8th. The company reported $5.77 earnings per share for the quarter, beating analysts’ consensus estimates of $5.02 by $0.75. The company had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.47 billion. Casey’s General Stores had a return on equity of 16.73% and a net margin of 3.54%.The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.83 earnings per share. Equities research analysts forecast that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey’s General Stores Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Saturday, November 1st will be issued a $0.57 dividend. 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 payout ratio is presently 14.63%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Stephens reaffirmed an “overweight” rating and set a $570.00 price target on shares of Casey’s General Stores in a report on Wednesday, October 8th. Jefferies Financial Group raised their target price on Casey’s General Stores from $575.00 to $600.00 and gave the stock a “buy” rating in a research report on Tuesday, September 9th. Evercore ISI upped their price target on Casey’s General Stores from $580.00 to $585.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. The Goldman Sachs Group increased 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 research note on Wednesday, September 10th. Finally, Zacks Research upgraded shares of Casey’s General Stores from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Casey’s General Stores has a consensus rating of “Moderate Buy” and an average price target of $564.00.

Insider Buying and Selling

In related 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 sale, the insider owned 7,993 shares in the company, 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 the SEC website. 0.54% of the stock is currently owned by company insiders.

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.