Casey’s General Stores, Inc. $CASY Stake Decreased by Hennessy Advisors Inc.

Hennessy Advisors Inc. lessened its position in Casey’s General Stores, Inc. (NASDAQ:CASY) by 21.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 69,500 shares of the company’s stock after selling 18,500 shares during the quarter. Casey’s General Stores accounts for 1.8% of Hennessy Advisors Inc.’s portfolio, making the stock its 8th largest position. Hennessy Advisors Inc. owned about 0.19% of Casey’s General Stores worth $55,238,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CASY. Kathmere Capital Management LLC raised its holdings in shares of Casey’s General Stores by 3.5% in the first quarter. Kathmere Capital Management LLC now owns 387 shares of the company’s stock worth $282,000 after buying an additional 13 shares during the period. Pinnacle Bancorp Inc. grew its position in Casey’s General Stores by 4.8% in the 1st quarter. Pinnacle Bancorp Inc. now owns 303 shares of the company’s stock valued at $221,000 after acquiring an additional 14 shares during the last quarter. Lincoln Capital LLC grew its position in Casey’s General Stores by 4.0% in the 2nd quarter. Lincoln Capital LLC now owns 366 shares of the company’s stock valued at $291,000 after acquiring an additional 14 shares during the last quarter. Menard Financial Group LLC increased its stake in Casey’s General Stores by 1.2% in the fourth quarter. Menard Financial Group LLC now owns 1,267 shares of the company’s stock worth $700,000 after purchasing an additional 15 shares during the period. Finally, Cibc World Market Inc. lifted its position in shares of Casey’s General Stores by 0.3% during the fourth quarter. Cibc World Market Inc. now owns 5,136 shares of the company’s stock worth $2,839,000 after purchasing an additional 16 shares during the last quarter. Institutional investors own 85.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CASY. Royal Bank Of Canada reissued a “sector perform” rating and set a $913.00 target price on shares of Casey’s General Stores in a research note on Wednesday, July 29th. Capital One Financial assumed coverage on shares of Casey’s General Stores in a research report on Monday, June 22nd. They set an “equal weight” rating and a $896.00 target price on the stock. BMO Capital Markets raised Casey’s General Stores from a “market perform” rating to an “outperform” rating and set a $950.00 price objective on the stock in a research note on Monday, June 29th. Weiss Ratings downgraded Casey’s General Stores from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, July 21st. Finally, Morgan Stanley raised Casey’s General Stores to a “buy” rating in a research report on Wednesday, June 10th. Fourteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $942.87.

Casey’s General Stores Stock Performance

Shares of NASDAQ:CASY opened at $755.47 on Friday. The company has a market capitalization of $27.96 billion, a price-to-earnings ratio of 39.43, a price-to-earnings-growth ratio of 2.59 and a beta of 0.61. Casey’s General Stores, Inc. has a 52 week low of $490.00 and a 52 week high of $927.85. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. The firm has a 50 day moving average of $831.92 and a 200 day moving average of $781.32.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.31 by $1.06. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.The business had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.33 billion. During the same quarter last year, the firm earned $2.63 EPS. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. On average, sell-side analysts predict that Casey’s General Stores, Inc. will post 21.11 earnings per share for the current fiscal year.

Casey’s General Stores Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Saturday, August 1st were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, July 31st. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.57. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.3%. Casey’s General Stores’s payout ratio is currently 13.57%.

Insider Transactions at Casey’s General Stores

In other Casey’s General Stores news, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the firm’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $838.16, for a total value of $4,777,512.00. Following the completion of the transaction, the chief financial officer owned 29,677 shares of the company’s stock, valued at approximately $24,874,074.32. This trade represents a 16.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Allison M. Wing sold 530 shares of the firm’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $837.58, for a total value of $443,917.40. Following the completion of the transaction, the director owned 3,042 shares of the company’s stock, valued at $2,547,918.36. This trade represents a 14.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 30,243 shares of company stock worth $24,421,877. 0.67% of the stock is currently owned by corporate insiders.

About Casey’s General Stores

Casey’s General Stores, Inc (NASDAQ: CASY) is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.