Summit Investment Advisors Inc. Sells 340 Shares of Casey’s General Stores, Inc. $CASY

Summit Investment Advisors Inc. cut its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 2.2% in the first quarter, Holdings Channel.com reports. The institutional investor owned 15,062 shares of the company’s stock after selling 340 shares during the period. Summit Investment Advisors Inc.’s holdings in Casey’s General Stores were worth $6,537,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new stake in shares of Casey’s General Stores during the 1st quarter worth approximately $32,000. Nvwm LLC bought a new stake in Casey’s General Stores in the second quarter worth $32,000. Rossby Financial LCC raised its stake in Casey’s General Stores by 580.0% during 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 in the last quarter. Iron Horse Wealth Management LLC raised its stake in Casey’s General Stores by 40.0% during the first 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 in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in Casey’s General Stores during the second quarter valued at $42,000. Institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Price Performance

Shares of CASY stock opened at $533.57 on Friday. The stock has a 50 day moving average price of $541.66 and a 200 day moving average price of $507.34. The firm has a market capitalization of $19.84 billion, a P/E ratio of 34.25 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 52-week low of $372.08 and a 52-week high of $572.18.

Casey’s General Stores (NASDAQ:CASY) last posted 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 firm had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.47 billion. Casey’s General Stores had a net margin of 3.54% and a return on equity of 16.73%. The company’s revenue was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.83 earnings per share. As a group, sell-side analysts predict that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey’s General Stores Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Saturday, November 1st will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a $2.28 dividend on an annualized basis and a yield of 0.4%. Casey’s General Stores’s payout ratio is 14.63%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Jefferies Financial Group boosted their target price on shares of Casey’s General Stores from $575.00 to $600.00 and gave the stock a “buy” rating in a report on Tuesday, September 9th. Weiss Ratings reissued a “buy (b)” rating on shares of Casey’s General Stores in a research note on Wednesday, October 8th. Stephens reaffirmed an “overweight” rating and issued a $570.00 price objective on shares of Casey’s General Stores in a research note on Wednesday, October 8th. Evercore ISI increased their price target on Casey’s General Stores from $580.00 to $585.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. Finally, BMO Capital Markets lifted their price objective on shares of 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 research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $564.00.

Insider Buying and Selling at Casey’s General Stores

In other Casey’s General Stores news, insider Chad Michael Frazell sold 3,487 shares of the company’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 completion of the sale, the insider directly owned 7,993 shares in the company, valued at approximately $4,439,312.20. This represents a 30.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

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.