Casey’s General Stores, Inc. $CASY Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its stake in Casey’s General Stores, Inc. (NASDAQ:CASY) by 3.4% during the 2nd quarter, Holdings Channel reports. The firm owned 18,459 shares of the company’s stock after selling 644 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Casey’s General Stores were worth $9,419,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CASY. Wellington Management Group LLP boosted its position in Casey’s General Stores by 190.6% during the first quarter. Wellington Management Group LLP now owns 1,244,311 shares of the company’s stock worth $540,081,000 after acquiring an additional 816,110 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Casey’s General Stores by 42.0% during the first quarter. JPMorgan Chase & Co. now owns 1,036,426 shares of the company’s stock worth $449,851,000 after acquiring an additional 306,628 shares during the last quarter. Third Point LLC acquired a new position in Casey’s General Stores during the first quarter worth about $130,212,000. Nuveen LLC acquired a new position in Casey’s General Stores during the first quarter worth about $76,467,000. Finally, Bank of New York Mellon Corp boosted its position in Casey’s General Stores by 51.5% during the first quarter. Bank of New York Mellon Corp now owns 515,603 shares of the company’s stock worth $223,792,000 after acquiring an additional 175,372 shares during the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

Insiders Place Their Bets

In related news, insider Chad Michael Frazell sold 3,487 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $555.40, for a total transaction of $1,936,679.80. Following the sale, the insider directly owned 7,993 shares of the company’s stock, valued at $4,439,312.20. This represents a 30.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.54% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on CASY. Jefferies Financial Group boosted 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 report on Tuesday, September 9th. Wells Fargo & Company began coverage on shares of Casey’s General Stores in a research report on Wednesday. They set an “overweight” rating and a $610.00 price target on the stock. KeyCorp boosted their price target on shares of Casey’s General Stores from $550.00 to $575.00 and gave the stock an “overweight” rating in a research report on Friday, July 25th. Weiss Ratings restated a “buy (b)” rating on shares of Casey’s General Stores in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group boosted their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $536.10.

Casey’s General Stores Price Performance

Casey’s General Stores stock opened at $567.05 on Monday. The company’s 50 day simple moving average is $534.08 and its 200-day simple moving average is $498.49. The company has a market capitalization of $21.08 billion, a price-to-earnings ratio of 36.40 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 released its quarterly earnings results on Monday, September 8th. The company reported $5.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $4.47 billion. During the same period in the previous year, the firm earned $4.83 EPS. The business’s revenue was up 11.5% on a year-over-year basis. As a group, equities research 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 firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Saturday, November 1st will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Friday, October 31st. Casey’s General Stores’s dividend payout ratio is presently 14.63%.

Casey’s General Stores 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.