Sterling Capital Management LLC Has $11.72 Million Position in Casey’s General Stores, Inc. $CASY

Sterling Capital Management LLC cut its position in Casey’s General Stores, Inc. (NASDAQ:CASY) by 3.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 22,977 shares of the company’s stock after selling 849 shares during the period. Sterling Capital Management LLC’s holdings in Casey’s General Stores were worth $11,724,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in CASY. Summit Securities Group LLC bought a new stake in shares of Casey’s General Stores in the first quarter valued at about $32,000. Nvwm LLC acquired a new stake in Casey’s General Stores in the 2nd quarter worth about $32,000. Rossby Financial LCC raised its stake in Casey’s General Stores by 580.0% in the 2nd quarter. Rossby Financial LCC now owns 68 shares of the company’s stock worth $35,000 after purchasing an additional 58 shares in the last quarter. Iron Horse Wealth Management LLC boosted its holdings in Casey’s General Stores by 40.0% in the 1st quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company’s stock valued at $40,000 after purchasing an additional 26 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Casey’s General Stores during the 2nd quarter worth approximately $42,000. Institutional investors own 85.63% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on CASY. BMO Capital Markets lifted 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. Stephens restated an “overweight” rating and issued a $570.00 price target on shares of Casey’s General Stores in a research report on Wednesday, October 8th. The Goldman Sachs Group upped their price objective on shares of Casey’s General Stores from $450.00 to $490.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 10th. KeyCorp increased their price objective 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. Finally, Evercore ISI raised their target price on shares of Casey’s General Stores from $580.00 to $585.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $564.00.

Casey’s General Stores Stock Down 0.5%

CASY stock opened at $523.08 on Friday. The firm has a 50-day moving average price of $540.88 and a 200-day moving average price of $506.77. The stock has a market capitalization of $19.45 billion, a P/E ratio of 33.57 and a beta of 0.66. Casey’s General Stores, Inc. has a 12 month low of $372.08 and a 12 month high of $572.18. 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 (NASDAQ:CASY) last issued its quarterly earnings data 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 business had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.47 billion. During the same quarter in the prior year, the firm earned $4.83 EPS. The firm’s revenue was up 11.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Casey’s General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey’s General Stores Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors 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 payout ratio is currently 14.63%.

Insiders Place Their Bets

In related news, insider Chad Michael Frazell sold 3,487 shares of the firm’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $555.40, for a total transaction of $1,936,679.80. Following the completion of the transaction, the insider directly owned 7,993 shares of the company’s stock, valued at $4,439,312.20. This trade represents a 30.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.54% of the stock is owned by insiders.

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.