Liberty One Investment Management LLC Trims Stock Position in Casey’s General Stores, Inc. $CASY

Liberty One Investment Management LLC cut its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 13.9% in the second quarter, Holdings Channel.com reports. The fund owned 41,966 shares of the company’s stock after selling 6,786 shares during the period. Casey’s General Stores makes up approximately 2.2% of Liberty One Investment Management LLC’s investment portfolio, making the stock its 23rd biggest position. Liberty One Investment Management LLC’s holdings in Casey’s General Stores were worth $21,414,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CASY. Valmark Advisers Inc. grew its holdings in shares of Casey’s General Stores by 0.5% in the second quarter. Valmark Advisers Inc. now owns 4,404 shares of the company’s stock valued at $2,247,000 after purchasing an additional 21 shares in the last quarter. Flagship Harbor Advisors LLC grew its holdings in Casey’s General Stores by 4.1% during the 1st quarter. Flagship Harbor Advisors LLC now owns 590 shares of the company’s stock worth $256,000 after acquiring an additional 23 shares in the last quarter. Sunbelt Securities Inc. grew its holdings in Casey’s General Stores by 1.4% during the 1st quarter. Sunbelt Securities Inc. now owns 1,870 shares of the company’s stock worth $812,000 after acquiring an additional 26 shares in the last quarter. Iron Horse Wealth Management LLC lifted its position in shares of Casey’s General Stores by 40.0% during the 1st quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company’s stock worth $40,000 after buying an additional 26 shares during the last quarter. Finally, Menard Financial Group LLC lifted its position in shares of Casey’s General Stores by 2.1% during the 1st quarter. Menard Financial Group LLC now owns 1,290 shares of the company’s stock worth $603,000 after buying an additional 27 shares during the last quarter. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Casey’s General Stores Stock Down 0.5%

CASY opened at $564.40 on Tuesday. The firm has a 50 day moving average price of $535.05 and a 200 day moving average price of $499.52. The company has a market cap of $20.98 billion, a PE ratio of 36.23 and a beta of 0.68. Casey’s General Stores, Inc. has a 1 year low of $372.08 and a 1 year high of $572.18. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.61 and a current ratio of 1.03.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Monday, September 8th. The company reported $5.77 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.47 billion. During the same quarter last year, the company earned $4.83 earnings per share. Casey’s General Stores’s revenue for the quarter was up 11.5% on a year-over-year basis. Sell-side analysts expect that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey’s General Stores Dividend Announcement

The business also recently declared 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 (DPR) is presently 14.63%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CASY shares. Evercore ISI boosted their price objective on shares of 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. Jefferies Financial Group upped their price target on shares of Casey’s General Stores from $575.00 to $600.00 and gave the stock a “buy” rating in a research note on Tuesday, September 9th. The Goldman Sachs Group upped their price target on shares of Casey’s General Stores from $450.00 to $490.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 10th. Stephens reissued an “overweight” rating and issued a $570.00 price objective on shares of Casey’s General Stores in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company started coverage on shares of Casey’s General Stores in a research note on Wednesday, October 15th. They issued an “overweight” rating and a $610.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Casey’s General Stores currently has an average rating of “Moderate Buy” and a consensus target price of $536.10.

Insider Buying and Selling at Casey’s General Stores

In other Casey’s General Stores news, insider Chad Michael Frazell sold 3,487 shares of Casey’s General Stores 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 owned 7,993 shares of the company’s stock, valued at $4,439,312.20. The trade was a 30.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 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.