Casey’s General Stores, Inc. $CASY Shares Sold by Retirement Guys Formula LLC

Retirement Guys Formula LLC lowered its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 8.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 444 shares of the company’s stock after selling 40 shares during the quarter. Retirement Guys Formula LLC’s holdings in Casey’s General Stores were worth $226,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc acquired a new stake in Casey’s General Stores in the 1st quarter worth about $25,000. Global Financial Private Client LLC boosted its holdings in shares of Casey’s General Stores by 325.0% in the 1st quarter. Global Financial Private Client LLC now owns 68 shares of the company’s stock valued at $30,000 after purchasing an additional 52 shares during the last quarter. Summit Securities Group LLC acquired a new position in Casey’s General Stores in the first quarter valued at $32,000. Iron Horse Wealth Management LLC grew its position in Casey’s General Stores by 40.0% during the first quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company’s stock valued at $40,000 after acquiring an additional 26 shares during the period. Finally, WPG Advisers LLC purchased a new stake in Casey’s General Stores during the first quarter valued at about $47,000. 85.63% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Mike Spanos acquired 200 shares of the business’s stock in a transaction that occurred on Monday, June 30th. The shares were purchased at an average cost of $503.18 per share, for a total transaction of $100,636.00. Following the transaction, the director directly owned 3,560 shares in the company, valued at $1,791,320.80. This trade represents a 5.95% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Stephen P. Bramlage, Jr. sold 760 shares of Casey’s General Stores stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $507.56, for a total transaction of $385,745.60. Following the completion of the sale, the chief financial officer owned 25,994 shares in the company, valued at approximately $13,193,514.64. This represents a 2.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

CASY has been the subject of a number of research reports. BMO Capital Markets boosted their target price on Casey’s General Stores from $515.00 to $540.00 and gave the stock a “market perform” rating in a report on Wednesday, September 10th. Stephens reaffirmed an “overweight” rating and issued a $530.00 target price on shares of Casey’s General Stores in a research report on Tuesday, September 9th. Evercore ISI upped their target price on Casey’s General Stores from $560.00 to $580.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 10th. Wells Fargo & Company upped their target price on Casey’s General Stores from $540.00 to $580.00 and gave the stock an “overweight” rating in a research report on Monday, September 8th. Finally, Royal Bank Of Canada upped their target price on Casey’s General Stores from $468.00 to $542.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 9th. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $529.10.

Casey’s General Stores Stock Down 0.7%

NASDAQ:CASY opened at $547.05 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.61 and a current ratio of 1.03. The stock has a 50-day simple moving average of $521.21 and a 200 day simple moving average of $480.00. Casey’s General Stores, Inc. has a one year low of $363.00 and a one year high of $571.57. The company has a market capitalization of $20.34 billion, a price-to-earnings ratio of 35.11 and a beta of 0.66.

Casey’s General Stores (NASDAQ:CASY) last released its 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 the consensus estimate of $4.47 billion. During the same quarter last year, the business posted $4.83 EPS. Casey’s General Stores’s quarterly revenue was up 11.5% compared to the same quarter last year. Sell-side analysts predict that Casey’s General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey’s General Stores Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Saturday, November 1st will be issued a $0.57 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a $2.28 annualized dividend and a dividend yield of 0.4%. Casey’s General Stores’s dividend payout ratio (DPR) is 14.63%.

About Casey’s General Stores

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.