Freedom Investment Management Inc. Has $610,000 Stock Position in Casey’s General Stores, Inc. $CASY

Freedom Investment Management Inc. reduced its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 2.7% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,195 shares of the company’s stock after selling 33 shares during the period. Freedom Investment Management Inc.’s holdings in Casey’s General Stores were worth $610,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CASY. GAMMA Investing LLC lifted its position 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 buying an additional 256 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position 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 buying an additional 362 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Casey’s General Stores during the 1st quarter worth $220,000. Golden State Wealth Management LLC lifted its position 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 buying an additional 200 shares during the last quarter. Finally, Money Concepts Capital Corp lifted its position in shares of Casey’s General Stores by 31.2% during the 1st quarter. Money Concepts Capital Corp now owns 1,803 shares of the company’s stock worth $783,000 after buying an additional 429 shares during the last quarter. 85.63% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Weiss Ratings restated a “buy (b)” rating on shares of Casey’s General Stores in a research report on Friday. Jefferies Financial Group increased their target price on Casey’s General Stores from $575.00 to $600.00 and gave the company a “buy” rating in a research report on Tuesday, September 9th. BMO Capital Markets increased their target price on Casey’s General Stores from $515.00 to $540.00 and gave the company a “market perform” rating in a research report on Wednesday, September 10th. Stephens reiterated 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, Wells Fargo & Company assumed coverage on Casey’s General Stores in a research report on Wednesday, October 15th. They issued an “overweight” rating and a $610.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $536.60.

Casey’s General Stores Trading Down 0.3%

Shares of CASY stock opened at $531.14 on Friday. The stock has a market cap of $19.75 billion, a price-to-earnings ratio of 34.09 and a beta of 0.68. The stock has a 50-day moving average of $537.18 and a 200-day moving average of $502.35. The company has a current ratio of 1.03, a quick ratio of 0.61 and a debt-to-equity ratio of 0.65. Casey’s General Stores, Inc. has a 1-year low of $372.08 and a 1-year high of $572.18.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Monday, September 8th. The company reported $5.77 earnings per share for the quarter, beating the consensus estimate of $5.02 by $0.75. The company had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.47 billion. Casey’s General Stores had a return on equity of 16.73% and a net margin of 3.54%.The business’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.83 earnings per share. On average, equities research analysts forecast that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey’s General Stores Announces Dividend

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

Insider Buying and Selling at Casey’s General Stores

In other news, insider Chad Michael Frazell sold 3,487 shares of the stock in a transaction dated 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 completion of the sale, the insider owned 7,993 shares of the company’s stock, valued at approximately $4,439,312.20. This represents a 30.37% decrease in their ownership of the stock. The sale 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 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.