Bailard Inc. Reduces Stock Position in Casey’s General Stores, Inc. $CASY

Bailard Inc. lessened its stake in Casey’s General Stores, Inc. (NASDAQ:CASY) by 29.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,194 shares of the company’s stock after selling 915 shares during the quarter. Bailard Inc.’s holdings in Casey’s General Stores were worth $1,120,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Summit Securities Group LLC acquired a new stake in shares of Casey’s General Stores in the 1st quarter worth $32,000. Nvwm LLC acquired a new position in shares of Casey’s General Stores during the 2nd quarter valued at about $32,000. Rossby Financial LCC grew its holdings in shares of Casey’s General Stores by 580.0% in the second quarter. Rossby Financial LCC now owns 68 shares of the company’s stock valued at $35,000 after purchasing an additional 58 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in Casey’s General Stores during the second quarter worth about $42,000. Finally, WPG Advisers LLC acquired a new stake in Casey’s General Stores during the first quarter worth about $47,000. Institutional investors and hedge funds own 85.63% of the company’s stock.

Insider Transactions at Casey’s General Stores

In other Casey’s General Stores news, insider Chad Michael Frazell sold 3,487 shares of the stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $555.40, for a total transaction of $1,936,679.80. Following the sale, the insider directly owned 7,993 shares in the company, valued at $4,439,312.20. This represents a 30.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.54% of the stock is currently owned by company insiders.

Casey’s General Stores Stock Up 0.3%

Casey’s General Stores stock opened at $536.66 on Friday. The company has a market capitalization of $19.95 billion, a PE ratio of 34.45 and a beta of 0.66. 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 fifty-two week low of $372.08 and a fifty-two week high of $572.18. The firm has a 50 day moving average price of $544.72 and a 200 day moving average price of $509.67.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Monday, September 8th. The company reported $5.77 EPS for the quarter, topping the consensus estimate of $5.02 by $0.75. Casey’s General Stores had a return on equity of 16.73% and a net margin of 3.54%.The business had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.47 billion. During the same period last year, the business posted $4.83 earnings per share. The company’s quarterly revenue was up 11.5% on a year-over-year basis. Research analysts expect that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey’s General Stores Dividend Announcement

The firm also recently disclosed 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 (DPR) is presently 14.63%.

Analyst Upgrades and Downgrades

CASY has been the topic of several recent analyst reports. Stephens reiterated an “overweight” rating and issued a $570.00 target price on shares of Casey’s General Stores in a report on Wednesday, October 8th. BMO Capital Markets upped their price objective on Casey’s General Stores from $515.00 to $540.00 and gave the company a “market perform” rating in a report on Wednesday, September 10th. Wells Fargo & Company started coverage on Casey’s General Stores in a research report on Wednesday, October 15th. They issued an “overweight” rating and a $610.00 price objective for the company. KeyCorp raised their target price on 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. Finally, The Goldman Sachs Group upped their price target on Casey’s General Stores from $450.00 to $490.00 and gave the company a “neutral” rating in a research note on Wednesday, September 10th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $564.00.

Casey’s General Stores Company 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.