Casey’s General Stores, Inc. $CASY Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. trimmed its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 5.4% during the second quarter, HoldingsChannel reports. The fund owned 388,780 shares of the company’s stock after selling 22,175 shares during the quarter. Vontobel Holding Ltd.’s holdings in Casey’s General Stores were worth $198,383,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in CASY. Wellington Management Group LLP increased its stake in shares of Casey’s General Stores by 190.6% during the first quarter. Wellington Management Group LLP now owns 1,244,311 shares of the company’s stock worth $540,081,000 after acquiring an additional 816,110 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Casey’s General Stores by 42.0% during the first quarter. JPMorgan Chase & Co. now owns 1,036,426 shares of the company’s stock worth $449,851,000 after acquiring an additional 306,628 shares during the period. Third Point LLC acquired a new position in shares of Casey’s General Stores during the first quarter worth about $130,212,000. Nuveen LLC acquired a new position in shares of Casey’s General Stores during the first quarter worth about $76,467,000. Finally, Bank of New York Mellon Corp grew its position in Casey’s General Stores by 51.5% during the first quarter. Bank of New York Mellon Corp now owns 515,603 shares of the company’s stock worth $223,792,000 after buying an additional 175,372 shares during the period. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Casey’s General Stores Stock Performance

Shares of CASY opened at $553.74 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.61 and a current ratio of 1.03. The company has a market capitalization of $20.59 billion, a price-to-earnings ratio of 35.54 and a beta of 0.68. The company’s 50 day simple moving average is $528.31 and its 200 day simple moving average is $491.32. Casey’s General Stores, Inc. has a 1 year low of $372.08 and a 1 year high of $571.57.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Monday, September 8th. The company reported $5.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.02 by $0.75. The business had revenue of $4.57 billion for 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 quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.83 earnings per share. On average, sell-side analysts predict that Casey’s General Stores, Inc. will post 13.94 EPS for the current year.

Casey’s General Stores Dividend Announcement

The company 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 dividend of $0.57 per share. 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 dividend payout ratio is presently 14.63%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CASY. The Goldman Sachs Group upped their target price 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 upped their target price on shares of Casey’s General Stores from $550.00 to $575.00 and gave the stock an “overweight” rating in a research report on Friday, July 25th. Wells Fargo & Company upped their target price on shares of Casey’s General Stores from $540.00 to $580.00 and gave the stock an “overweight” rating in a research report on Monday, September 8th. Jefferies Financial Group upped 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 research report on Tuesday, September 9th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Casey’s General Stores in a report on Wednesday. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $533.10.

Insider Activity

In related news, insider Chad Michael Frazell sold 3,487 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $555.40, for a total transaction of $1,936,679.80. Following the transaction, the insider owned 7,993 shares of the company’s stock, valued at approximately $4,439,312.20. This represents a 30.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.54% of the company’s stock.

Casey’s General Stores Company Profile

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.