Casey’s General Stores, Inc. (NASDAQ:CASY) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. trimmed its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 14.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 516,615 shares of the company’s stock after selling 88,273 shares during the quarter. Vontobel Holding Ltd. owned 1.39% of Casey’s General Stores worth $194,097,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of CASY. Congress Asset Management Co. MA purchased a new position in shares of Casey’s General Stores during the 1st quarter valued at approximately $112,081,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Casey’s General Stores in the 1st quarter worth about $794,000. Rheos Capital Works Inc. acquired a new stake in shares of Casey’s General Stores in the 1st quarter valued at about $15,604,000. Nordea Investment Management AB raised its stake in shares of Casey’s General Stores by 2.0% in the 1st quarter. Nordea Investment Management AB now owns 21,919 shares of the company’s stock valued at $6,976,000 after purchasing an additional 437 shares in the last quarter. Finally, Bailard Inc. bought a new position in shares of Casey’s General Stores during the second quarter worth about $1,021,000. Institutional investors and hedge funds own 85.63% of the company’s stock.

Wall Street Analysts Forecast Growth

CASY has been the topic of several research reports. Royal Bank of Canada upped their price objective on Casey’s General Stores from $393.00 to $403.00 and gave the company a “sector perform” rating in a research note on Thursday, September 5th. Wells Fargo & Company upped their price target on Casey’s General Stores from $415.00 to $425.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Casey’s General Stores from $420.00 to $444.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Benchmark reiterated a “buy” rating and set a $410.00 target price on shares of Casey’s General Stores in a research note on Tuesday, September 10th. Finally, JPMorgan Chase & Co. lowered shares of Casey’s General Stores from a “neutral” rating to an “underweight” rating and lifted their price target for the company from $300.00 to $337.00 in a report on Thursday, September 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Casey’s General Stores currently has an average rating of “Moderate Buy” and a consensus price target of $407.64.

Casey’s General Stores Price Performance

Shares of Casey’s General Stores stock traded down $1.28 on Wednesday, hitting $387.95. The company had a trading volume of 15,422 shares, compared to its average volume of 274,820. Casey’s General Stores, Inc. has a 52 week low of $260.13 and a 52 week high of $401.07. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.84 and a quick ratio of 0.44. The company has a market cap of $14.40 billion, a PE ratio of 28.98 and a beta of 0.80. The business has a 50-day simple moving average of $373.64 and a 200-day simple moving average of $356.24.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Wednesday, September 4th. The company reported $4.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.54 by $0.29. Casey’s General Stores had a return on equity of 17.07% and a net margin of 3.40%. The firm had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same period last year, the company posted $4.52 EPS. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. Research analysts expect that Casey’s General Stores, Inc. will post 14.01 EPS for the current fiscal year.

Casey’s General Stores Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend is Friday, November 1st. Casey’s General Stores’s payout ratio is currently 14.89%.

Insiders Place Their Bets

In other news, CEO Darren M. Rebelez sold 13,500 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $374.54, for a total transaction of $5,056,290.00. Following the completion of the sale, the chief executive officer now directly owns 73,838 shares of the company’s stock, valued at $27,655,284.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Casey’s General Stores news, Director Mike Spanos purchased 267 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were purchased at an average cost of $376.18 per share, with a total value of $100,440.06. Following the completion of the transaction, the director now owns 2,594 shares of the company’s stock, valued at approximately $975,810.92. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Darren M. Rebelez sold 13,500 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $374.54, for a total transaction of $5,056,290.00. Following the completion of the sale, the chief executive officer now directly owns 73,838 shares of the company’s stock, valued at $27,655,284.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.47% of the stock is owned by company insiders.

About Casey’s General Stores

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. Its stores offer pizza, donuts, breakfast items, and sandwiches; and tobacco and nicotine products. The company's stores provide soft drinks, energy, water, sports drinks, juices, coffee, and tea and dairy products; beer, wine, and spirits; snacks, candy, packaged bakery, and other food items; ice, ice cream, meals, and appetizers; health and beauty aids, automotive products, electronic accessories, housewares, and pet supplies; and ATM, lotto/lottery, and prepaid cards.