WCM Investment Management LLC decreased its holdings in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 91.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,836 shares of the company's stock after selling 51,920 shares during the period. WCM Investment Management LLC's holdings in Casey's General Stores were worth $1,805,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the business. Park Place Capital Corp acquired a new stake in Casey's General Stores during the second quarter worth $31,000. Innealta Capital LLC acquired a new stake in Casey's General Stores in the 2nd quarter valued at approximately $32,000. Advisors Asset Management Inc. acquired a new position in Casey's General Stores during the first quarter valued at $32,000. Bank & Trust Co acquired a new position in Casey's General Stores in the 2nd quarter valued at approximately $40,000. Finally, Venturi Wealth Management LLC lifted its stake in shares of Casey's General Stores by 941.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 125 shares of the company's stock valued at $47,000 after purchasing an additional 113 shares during the period. 85.63% of the stock is currently owned by institutional investors.
Insider Activity at Casey's General Stores
In other news, insider Thomas P. Brennan, Jr. sold 3,000 shares of the company's stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $380.24, for a total transaction of $1,140,720.00. Following the completion of the transaction, the insider now directly owns 9,044 shares in the company, valued at $3,438,890.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Thomas P. Brennan, Jr. sold 3,000 shares of Casey's General Stores stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $380.24, for a total transaction of $1,140,720.00. Following the completion of the transaction, the insider now directly owns 9,044 shares of the company's stock, valued at $3,438,890.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Darren M. Rebelez sold 13,500 shares of Casey's General Stores stock in a transaction on Friday, September 6th. The shares were sold at an average price of $374.54, for a total value of $5,056,290.00. Following the completion of the transaction, the chief executive officer now owns 73,838 shares in the company, valued at $27,655,284.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.56% of the stock is owned by corporate insiders.
Casey's General Stores Trading Up 1.5 %
Shares of NASDAQ CASY traded up $6.09 during mid-day trading on Tuesday, reaching $417.06. The company had a trading volume of 187,186 shares, compared to its average volume of 269,225. The company has a current ratio of 0.84, a quick ratio of 0.44 and a debt-to-equity ratio of 0.44. The stock has a market cap of $15.48 billion, a price-to-earnings ratio of 29.91 and a beta of 0.79. The business's 50-day moving average is $383.05 and its 200-day moving average is $367.39. Casey's General Stores, Inc. has a 52 week low of $266.56 and a 52 week high of $420.27.
Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its earnings results on Wednesday, September 4th. The company reported $4.83 earnings per share for the quarter, beating the consensus estimate of $4.54 by $0.29. Casey's General Stores had a return on equity of 17.07% and a net margin of 3.40%. The business had revenue of $4.10 billion during the quarter, compared to analysts' expectations of $4.15 billion. During the same quarter last year, the business posted $4.52 earnings per share. The company's quarterly revenue was up 5.9% on a year-over-year basis. Equities analysts expect that Casey's General Stores, Inc. will post 14.24 earnings per share for the current year.
Casey's General Stores Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a dividend of $0.50 per share. The ex-dividend date is Friday, November 1st. This represents a $2.00 annualized dividend and a yield of 0.48%. Casey's General Stores's payout ratio is presently 14.56%.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their target price on Casey's General Stores from $451.00 to $454.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. Royal Bank of Canada boosted their price target on shares of Casey's General Stores from $393.00 to $403.00 and gave the company a "sector perform" rating in a research report on Thursday, September 5th. Evercore ISI boosted their price target on Casey's General Stores from $435.00 to $440.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. cut Casey's General Stores from a "neutral" rating to an "underweight" rating and boosted their price objective for the company from $300.00 to $337.00 in a research report on Thursday, September 19th. Finally, Melius Research initiated coverage on Casey's General Stores in a research report on Monday, September 23rd. They set a "buy" rating and a $435.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, Casey's General Stores has a consensus rating of "Moderate Buy" and an average target price of $408.25.
Read Our Latest Analysis on CASY
Casey's General Stores Profile
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Free Report)
Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. Its stores offer pizza, donuts, breakfast items, and sandwiches; and tobacco and nicotine products. The company's stores provide soft drinks, energy, water, sports drinks, juices, coffee, and tea and dairy products; beer, wine, and spirits; snacks, candy, packaged bakery, and other food items; ice, ice cream, meals, and appetizers; health and beauty aids, automotive products, electronic accessories, housewares, and pet supplies; and ATM, lotto/lottery, and prepaid cards.
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