Casey’s General Stores, Inc. (NASDAQ:CASY) Shares Sold by VELA Investment Management LLC

VELA Investment Management LLC decreased its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 35.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 6,448 shares of the company’s stock after selling 3,506 shares during the period. VELA Investment Management LLC’s holdings in Casey’s General Stores were worth $2,423,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CASY. Janus Henderson Group PLC boosted its stake in shares of Casey’s General Stores by 1.4% during the 1st quarter. Janus Henderson Group PLC now owns 768,060 shares of the company’s stock worth $244,592,000 after acquiring an additional 10,841 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Casey’s General Stores by 3.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 468,650 shares of the company’s stock worth $178,822,000 after acquiring an additional 14,750 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Casey’s General Stores by 20.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 458,044 shares of the company’s stock valued at $174,771,000 after buying an additional 77,515 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Casey’s General Stores in the 3rd quarter valued at approximately $959,880,000. Finally, TD Asset Management Inc lifted its stake in Casey’s General Stores by 2.5% in the 1st quarter. TD Asset Management Inc now owns 220,257 shares of the company’s stock valued at $70,141,000 after buying an additional 5,296 shares in the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

Casey’s General Stores Trading Down 0.1 %

Shares of CASY stock traded down $0.33 on Friday, reaching $393.19. 196,175 shares of the stock were exchanged, compared to its average volume of 270,405. The stock has a market cap of $14.60 billion, a P/E ratio of 28.62 and a beta of 0.80. The company has a quick ratio of 0.44, a current ratio of 0.84 and a debt-to-equity ratio of 0.44. The firm has a 50 day moving average of $378.56 and a two-hundred day moving average of $362.82. Casey’s General Stores, Inc. has a 1-year low of $266.56 and a 1-year high of $401.17.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings data on Wednesday, September 4th. The company reported $4.83 EPS for the quarter, topping analysts’ consensus estimates of $4.54 by $0.29. The business had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.15 billion. Casey’s General Stores had a return on equity of 17.07% and a net margin of 3.40%. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the prior year, the firm posted $4.52 EPS. On average, research analysts anticipate that Casey’s General Stores, Inc. will post 14.01 EPS 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 15th. Investors of record on Friday, November 1st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $2.00 annualized dividend and a yield of 0.51%. Casey’s General Stores’s dividend payout ratio is currently 14.56%.

Insider Activity at Casey’s General Stores

In related news, CEO Darren M. Rebelez sold 13,500 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $374.54, for a total value of $5,056,290.00. Following the completion of the sale, the chief executive officer now directly owns 73,838 shares in the company, valued at approximately $27,655,284.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Casey’s General Stores news, CEO Darren M. Rebelez sold 13,500 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $374.54, for a total value of $5,056,290.00. Following the completion of the transaction, the chief executive officer now directly owns 73,838 shares of the company’s stock, valued at $27,655,284.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Thomas P. Brennan, Jr. sold 3,000 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $380.24, for a total transaction of $1,140,720.00. Following the completion of the transaction, the insider now directly owns 9,044 shares of the company’s stock, valued at approximately $3,438,890.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.56% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on CASY. Melius Research began coverage on Casey’s General Stores in a research note on Monday, September 23rd. They issued a “buy” rating and a $435.00 target price on the stock. Royal Bank of Canada upped their target price 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. JPMorgan Chase & Co. lowered Casey’s General Stores from a “neutral” rating to an “underweight” rating and upped their target price for the company from $300.00 to $337.00 in a research note on Thursday, September 19th. StockNews.com downgraded Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 3rd. Finally, Wells Fargo & Company boosted their price target on Casey’s General Stores from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Friday, September 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $408.09.

Casey’s General Stores Profile

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.