MQS Management LLC Reduces Holdings in Casey’s General Stores, Inc. (NASDAQ:CASY)

MQS Management LLC cut its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 10.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 609 shares of the company’s stock after selling 70 shares during the quarter. MQS Management LLC’s holdings in Casey’s General Stores were worth $229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of CASY. International Assets Investment Management LLC purchased a new stake in Casey’s General Stores during the 3rd quarter valued at about $959,880,000. Millennium Management LLC boosted its holdings in Casey’s General Stores by 3,846.1% during the 2nd quarter. Millennium Management LLC now owns 172,320 shares of the company’s stock valued at $65,750,000 after acquiring an additional 176,920 shares during the period. Bridges Investment Management Inc. lifted its holdings in Casey’s General Stores by 110.0% in the 2nd quarter. Bridges Investment Management Inc. now owns 177,190 shares of the company’s stock worth $67,609,000 after buying an additional 92,813 shares during the period. American Century Companies Inc. lifted its holdings in Casey’s General Stores by 189.1% in the 2nd quarter. American Century Companies Inc. now owns 132,375 shares of the company’s stock worth $50,509,000 after buying an additional 86,582 shares during the period. Finally, abrdn plc purchased a new stake in Casey’s General Stores in the 3rd quarter worth approximately $30,538,000. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on CASY. StockNews.com cut Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 3rd. Benchmark reiterated a “buy” rating and issued a $410.00 price objective on shares of Casey’s General Stores in a report on Tuesday, September 10th. Melius Research began coverage on Casey’s General Stores in a report on Monday, September 23rd. They issued a “buy” rating and a $435.00 price objective for the company. Wells Fargo & Company increased their price objective on Casey’s General Stores from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Casey’s General Stores from $451.00 to $454.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Casey’s General Stores presently has an average rating of “Moderate Buy” and a consensus price target of $408.25.

Insiders Place Their Bets

In other Casey’s General Stores news, Director Mike Spanos bought 267 shares of Casey’s General Stores stock in a transaction on Wednesday, September 18th. The stock was acquired at an average price of $376.18 per share, with a total value of $100,440.06. Following the acquisition, the director now owns 2,594 shares in the company, valued at approximately $975,810.92. This trade represents a 11.47 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas P. Brennan, Jr. sold 3,000 shares of Casey’s General Stores stock in a transaction on Friday, September 6th. The stock was sold at an average price of $380.24, for a total value of $1,140,720.00. Following the completion of the sale, the insider now directly owns 9,044 shares of the company’s stock, valued at approximately $3,438,890.56. The trade was a 24.91 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.56% of the company’s stock.

Casey’s General Stores Stock Down 1.1 %

CASY stock opened at $401.40 on Friday. Casey’s General Stores, Inc. has a twelve month low of $266.56 and a twelve month high of $420.27. 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 market cap of $14.90 billion, a PE ratio of 29.21 and a beta of 0.79. The business has a 50 day moving average of $386.44 and a 200 day moving average of $369.16.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Wednesday, September 4th. The company reported $4.83 earnings per share 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 company had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same quarter last year, the company earned $4.52 EPS. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, research analysts forecast that Casey’s General Stores, Inc. will post 14.24 EPS for the current fiscal year.

Casey’s General Stores Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Friday, November 1st. Casey’s General Stores’s payout ratio is 14.56%.

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.