AdvisorShares Investments LLC Sells 200 Shares of Casey’s General Stores, Inc. (NASDAQ:CASY)

AdvisorShares Investments LLC trimmed its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 40.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 290 shares of the company’s stock after selling 200 shares during the quarter. AdvisorShares Investments LLC’s holdings in Casey’s General Stores were worth $109,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of CASY. Norges Bank bought a new position in Casey’s General Stores during the fourth quarter worth about $115,799,000. Congress Asset Management Co. MA bought a new position in Casey’s General Stores during the first quarter worth about $112,081,000. Point72 Asset Management L.P. increased its position in Casey’s General Stores by 561.7% during the fourth quarter. Point72 Asset Management L.P. now owns 273,168 shares of the company’s stock worth $75,050,000 after acquiring an additional 231,887 shares during the period. Principal Financial Group Inc. increased its position in Casey’s General Stores by 113.0% during the first quarter. Principal Financial Group Inc. now owns 291,838 shares of the company’s stock worth $92,936,000 after acquiring an additional 154,803 shares during the period. Finally, DAVENPORT & Co LLC grew its stake in Casey’s General Stores by 11,242.6% during the first quarter. DAVENPORT & Co LLC now owns 107,641 shares of the company’s stock worth $34,284,000 after buying an additional 106,692 shares in the last quarter. 85.63% of the stock is owned by institutional investors.

Casey’s General Stores Trading Up 2.3 %

CASY opened at $382.07 on Friday. The company’s 50 day moving average is $373.69 and its 200-day moving average is $344.44. Casey’s General Stores, Inc. has a 1-year low of $260.13 and a 1-year high of $401.07. The company has a current ratio of 0.84, a quick ratio of 0.44 and a debt-to-equity ratio of 0.44. The company has a market cap of $14.18 billion, a P/E ratio of 28.45, a PEG ratio of 2.71 and a beta of 0.80.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results 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. The company had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.15 billion. Casey’s General Stores had a net margin of 3.40% and a return on equity of 17.07%. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period last year, the company posted $4.52 EPS. Equities research analysts predict that Casey’s General Stores, Inc. will post 13.45 earnings per share for the current fiscal year.

Casey’s General Stores Dividend Announcement

The firm also recently disclosed 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 is Friday, November 1st. This represents a $2.00 dividend on an annualized basis and a yield of 0.52%. Casey’s General Stores’s dividend payout ratio (DPR) is presently 14.89%.

Wall Street Analysts Forecast Growth

CASY has been the topic of a number of analyst reports. BMO Capital Markets increased their price objective on shares of Casey’s General Stores from $305.00 to $400.00 and gave the stock a “market perform” rating in a research note on Thursday, June 13th. Jefferies Financial Group increased their price objective on shares of Casey’s General Stores from $342.00 to $445.00 and gave the stock a “buy” rating in a research note on Wednesday, June 12th. Evercore ISI increased their price objective on shares of Casey’s General Stores from $410.00 to $435.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Benchmark reiterated a “buy” rating and set a $410.00 price objective on shares of Casey’s General Stores in a research note on Tuesday. Finally, Royal Bank of Canada increased their price objective on shares of Casey’s General Stores from $393.00 to $403.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 5th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $401.20.

Insider Activity at Casey’s General Stores

In other Casey’s General Stores news, CEO Darren M. Rebelez sold 13,500 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $374.54, for a total transaction of $5,056,290.00. Following the completion of the transaction, the chief executive officer now owns 73,838 shares in the company, valued at approximately $27,655,284.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Thomas P. Brennan, Jr. sold 3,000 shares of Casey’s General Stores stock in a transaction on Friday, September 6th. The shares were 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 owns 9,044 shares of the company’s stock, valued at approximately $3,438,890.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Darren M. Rebelez sold 13,500 shares of Casey’s General Stores 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 transaction, the chief executive officer now directly owns 73,838 shares in the company, valued at $27,655,284.52. The disclosure for this sale can be found here. 0.47% of the stock is owned by company insiders.

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.