Casey’s General Stores, Inc. $CASY Shares Sold by World Equity Group Inc.

World Equity Group Inc. decreased its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 53.9% during the second quarter, HoldingsChannel reports. The institutional investor owned 683 shares of the company’s stock after selling 799 shares during the period. World Equity Group Inc.’s holdings in Casey’s General Stores were worth $542,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CASY. Everhart Financial Group Inc. raised its position in Casey’s General Stores by 14.0% during the second quarter. Everhart Financial Group Inc. now owns 366 shares of the company’s stock worth $291,000 after acquiring an additional 45 shares during the period. Valeo Financial Advisors LLC increased its stake in shares of Casey’s General Stores by 20.9% during the second quarter. Valeo Financial Advisors LLC now owns 566 shares of the company’s stock worth $450,000 after purchasing an additional 98 shares in the last quarter. Czech National Bank purchased a new stake in shares of Casey’s General Stores during the second quarter worth about $8,361,000. PensionDanmark Pensionsforsikringsaktieselskab acquired a new position in shares of Casey’s General Stores during the 2nd quarter worth about $636,000. Finally, Assenagon Asset Management S.A. raised its position in shares of Casey’s General Stores by 669.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 19,562 shares of the company’s stock worth $15,548,000 after purchasing an additional 17,021 shares during the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

Casey’s General Stores Price Performance

CASY opened at $854.46 on Tuesday. The stock’s 50-day moving average price is $831.22 and its 200 day moving average price is $762.62. Casey’s General Stores, Inc. has a 12-month low of $490.00 and a 12-month high of $927.85. The firm has a market cap of $31.62 billion, a price-to-earnings ratio of 44.60, a PEG ratio of 2.50 and a beta of 0.61. The company has a current ratio of 1.01, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59.

Casey’s General Stores (NASDAQ:CASY) last released its earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, beating the consensus estimate of $3.31 by $1.06. The company had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.33 billion. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.Casey’s General Stores’s revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.63 EPS. As a group, sell-side analysts expect that Casey’s General Stores, Inc. will post 21.14 earnings per share for the current year.

Casey’s General Stores Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Saturday, August 1st will be paid a $0.65 dividend. The ex-dividend date of this dividend is Friday, July 31st. This is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.57. This represents a $2.60 annualized dividend and a dividend yield of 0.3%. Casey’s General Stores’s payout ratio is 13.57%.

Insider Transactions at Casey’s General Stores

In other Casey’s General Stores news, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $838.16, for a total transaction of $4,777,512.00. Following the transaction, the chief financial officer owned 29,677 shares of the company’s stock, valued at approximately $24,874,074.32. This trade represents a 16.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Katrina S. Lindsey sold 2,000 shares of the firm’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $800.00, for a total value of $1,600,000.00. Following the transaction, the insider directly owned 6,668 shares in the company, valued at approximately $5,334,400. The trade was a 23.07% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 30,243 shares of company stock valued at $24,421,877. 0.67% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CASY has been the topic of a number of research analyst reports. BNP Paribas Exane reduced their target price on Casey’s General Stores from $1,032.00 to $995.00 and set an “outperform” rating on the stock in a research report on Thursday, June 25th. Evercore reiterated an “outperform” rating and set a $990.00 price target on shares of Casey’s General Stores in a report on Friday, June 12th. Capital One Financial assumed coverage on Casey’s General Stores in a report on Monday, June 22nd. They set an “equal weight” rating and a $896.00 price target for the company. JPMorgan Chase & Co. boosted their price objective on shares of Casey’s General Stores from $719.00 to $975.00 and gave the company a “neutral” rating in a report on Friday, June 12th. Finally, Wells Fargo & Company boosted their price objective on shares of Casey’s General Stores from $910.00 to $960.00 and gave the company an “overweight” rating in a report on Thursday, June 11th. Fourteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Casey’s General Stores has an average rating of “Moderate Buy” and a consensus target price of $944.20.

Casey’s General Stores Profile

Casey’s General Stores, Inc (NASDAQ: CASY) is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.