Casey's General Stores, Inc. $CASY Stock Holdings Trimmed by Rhumbline Advisers

Rhumbline Advisers reduced its stake in Casey's General Stores, Inc. by 1.2% in Q2, now holding 110,838 shares worth $56.56 million. Other institutional investors also adjusted their positions. Analysts have given the stock a consensus rating of 'Moderate Buy' with an average price target of $564.00. Insider Chad Michael Frazell sold 3,487 shares. Casey's stock opened at $540.79 with a market cap of $20.11 billion.

Rhumbline Advisers lowered its position in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 1.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 110,838 shares of the company's stock after selling 1,311 shares during the quarter. Rhumbline Advisers owned about 0.30% of Casey's General Stores worth $56,557,000 at the end of the most recent quarter.

Casey’s General Stores: Investors Win With CASY at the Bat

Several other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP raised its position in shares of Casey's General Stores by 190.6% during the 1st quarter. Wellington Management Group LLP now owns 1,244,311 shares of the company's stock valued at $540,081,000 after acquiring an additional 816,110 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of 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 purchasing an additional 306,628 shares during the period. Franklin Resources Inc. raised its holdings in shares of Casey's General Stores by 0.3% during the second quarter. Franklin Resources Inc. now owns 708,893 shares of the company's stock worth $361,727,000 after purchasing an additional 2,467 shares during the period. Raymond James Financial Inc. lifted its position in shares of Casey's General Stores by 8.9% in the 1st quarter. Raymond James Financial Inc. now owns 649,815 shares of the company's stock worth $282,045,000 after buying an additional 52,939 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Casey's General Stores by 9.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 448,919 shares of the company's stock valued at $229,070,000 after buying an additional 37,625 shares during the period. Institutional investors and hedge funds own 85.63% of the company's stock.

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Analyst Ratings Changes

A number of equities research analysts recently weighed in on CASY shares. Weiss Ratings reaffirmed a "buy (b+)" rating on shares of Casey's General Stores in a research report on Thursday, November 13th. Wells Fargo & Company assumed coverage on Casey's General Stores in a report on Wednesday, October 15th. They set an "overweight" rating and a $610.00 target price for the company. Jefferies Financial Group increased their price target on 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. Stephens restated an "overweight" rating and set a $570.00 price objective on shares of Casey's General Stores in a research report on Wednesday, October 8th. Finally, BMO Capital Markets upped their price objective on Casey's General Stores from $515.00 to $540.00 and gave the stock a "market perform" rating in a research note on Wednesday, September 10th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $564.00.

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Check Out Our Latest Report on Casey's General Stores

Insider Activity

In other news, insider Chad Michael Frazell sold 3,487 shares of the business's stock in a transaction on Monday, September 29th. The stock was sold at an average price of $555.40, for a total value of $1,936,679.80. Following the sale, the insider owned 7,993 shares of the company's stock, valued at approximately $4,439,312.20. The trade was a 30.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.54% of the company's stock.

Casey's General Stores Stock Performance

Casey’s Surges on Strong Q4, More Gains Likely Ahead

Shares of CASY opened at $540.79 on Tuesday. The firm has a market capitalization of $20.11 billion, a PE ratio of 34.71 and a beta of 0.66. The company has a quick ratio of 0.61, a current ratio of 1.03 and a debt-to-equity ratio of 0.65. The firm has a 50-day moving average price of $545.97 and a 200 day moving average price of $514.62. Casey's General Stores, Inc. has a 52-week low of $372.08 and a 52-week high of $572.18.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its quarterly 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 net margin of 3.54% and a return on equity of 16.73%. The company 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. Casey's General Stores's revenue was up 11.5% on a year-over-year basis. On average, sell-side analysts anticipate that Casey's General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey's General Stores Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Saturday, November 1st were paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Friday, October 31st. Casey's General Stores's dividend payout ratio (DPR) is presently 14.63%.

Casey's General Stores Profile

(Free Report)

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.

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