City State Bank Decreases Stock Position in Casey’s General Stores, Inc. $CASY

City State Bank cut its holdings in Casey’s General Stores, Inc. (NASDAQ:CASY) by 1.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,872 shares of the company’s stock after selling 26 shares during the period. City State Bank’s holdings in Casey’s General Stores were worth $955,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CASY. GAMMA Investing LLC boosted its stake in shares of Casey’s General Stores by 25.7% during the 1st quarter. GAMMA Investing LLC now owns 1,253 shares of the company’s stock worth $544,000 after purchasing an additional 256 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Casey’s General Stores by 12.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,237 shares of the company’s stock worth $1,405,000 after purchasing an additional 362 shares during the last quarter. Flagship Harbor Advisors LLC boosted its stake in shares of 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 purchasing an additional 23 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Casey’s General Stores during the 1st quarter worth about $220,000. Finally, Golden State Wealth Management LLC boosted its stake in shares of Casey’s General Stores by 363.6% during the 1st quarter. Golden State Wealth Management LLC now owns 255 shares of the company’s stock worth $111,000 after purchasing an additional 200 shares during the last quarter. 85.63% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Chad Michael Frazell sold 3,487 shares of the firm’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 value of $1,936,679.80. Following the transaction, the insider owned 7,993 shares in the company, valued at approximately $4,439,312.20. This trade represents a 30.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.54% of the company’s stock.

Casey’s General Stores Price Performance

CASY opened at $531.14 on Friday. The company’s 50 day simple moving average is $537.18 and its 200 day simple moving average is $501.76. 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, Inc. has a 1 year low of $372.08 and a 1 year high of $572.18. The stock has a market capitalization of $19.75 billion, a PE ratio of 34.09 and a beta of 0.68.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results on Monday, September 8th. The company reported $5.77 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 firm had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.47 billion. During the same quarter last year, the firm posted $4.83 earnings per share. Casey’s General Stores’s revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, sell-side analysts expect that Casey’s General Stores, Inc. will post 13.94 EPS for the current year.

Casey’s General Stores Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Saturday, November 1st will be issued a $0.57 dividend. The ex-dividend date is Friday, October 31st. This represents a $2.28 annualized dividend and a yield of 0.4%. Casey’s General Stores’s dividend payout ratio (DPR) is presently 14.63%.

Analysts Set New Price Targets

Several research firms have issued reports on CASY. KeyCorp raised 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 note on Friday, July 25th. Royal Bank Of Canada raised their price target on shares of Casey’s General Stores from $468.00 to $542.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 9th. Weiss Ratings reissued a “buy (b)” rating on shares of Casey’s General Stores in a research report on Friday. Stephens reissued an “overweight” rating and issued a $570.00 target price on shares of Casey’s General Stores in a research report on Wednesday, October 8th. Finally, BMO Capital Markets raised their target price on shares of Casey’s General Stores from $515.00 to $540.00 and gave the stock a “market perform” rating in a research report on Wednesday, September 10th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $536.60.

About Casey’s General Stores

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.