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

Granite Investment Partners LLC lowered its position in Casey’s General Stores, Inc. (NASDAQ:CASY) by 1.8% during the second quarter, Holdings Channel.com reports. The fund owned 15,773 shares of the company’s stock after selling 289 shares during the quarter. Granite Investment Partners LLC’s holdings in Casey’s General Stores were worth $6,018,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CASY. Rise Advisors LLC purchased a new stake in Casey’s General Stores during the 1st quarter worth $30,000. Park Place Capital Corp purchased a new stake in shares of Casey’s General Stores in the second quarter worth about $31,000. Advisors Asset Management Inc. acquired a new stake in shares of Casey’s General Stores in the first quarter valued at about $32,000. Innealta Capital LLC acquired a new stake in shares of Casey’s General Stores in the second quarter valued at about $32,000. Finally, V Square Quantitative Management LLC purchased a new stake in shares of Casey’s General Stores during the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Insider Buying and Selling at Casey’s General Stores

In other news, insider Thomas P. Brennan, Jr. sold 3,000 shares of Casey’s General Stores stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $380.24, for a total transaction of $1,140,720.00. Following the sale, the insider now owns 9,044 shares of the company’s stock, valued at $3,438,890.56. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Mike Spanos acquired 267 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was acquired at an average cost of $376.18 per share, for a total transaction of $100,440.06. Following the completion of the acquisition, the director now directly owns 2,594 shares of the company’s stock, valued at approximately $975,810.92. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Thomas P. Brennan, Jr. sold 3,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 9,044 shares in the company, valued at approximately $3,438,890.56. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on CASY. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Casey’s General Stores from $420.00 to $444.00 and gave the company a “buy” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. downgraded shares of Casey’s General Stores from a “neutral” rating to an “underweight” rating and lifted their price target for the stock from $300.00 to $337.00 in a research note on Thursday. Northcoast Research raised shares of Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $410.00 price objective for the company in a research report on Thursday, July 11th. Benchmark reaffirmed a “buy” rating and set a $410.00 target price on shares of Casey’s General Stores in a research report on Tuesday, September 10th. Finally, Wells Fargo & Company boosted their price target on Casey’s General Stores from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $404.90.

Casey’s General Stores Stock Up 0.8 %

NASDAQ:CASY opened at $368.00 on Friday. 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 stock has a 50 day moving average of $374.46 and a 200-day moving average of $346.94. The firm has a market capitalization of $13.66 billion, a PE ratio of 27.40, a price-to-earnings-growth ratio of 2.58 and a beta of 0.80. Casey’s General Stores, Inc. has a 52 week low of $260.13 and a 52 week high of $401.07.

Casey’s General Stores (NASDAQ:CASY) last issued its earnings results on Wednesday, September 4th. The company reported $4.83 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same period last year, the company earned $4.52 earnings per share. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. Analysts predict that Casey’s General Stores, Inc. will post 14.15 EPS for the current year.

Casey’s General Stores Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend is Friday, November 1st. Casey’s General Stores’s payout ratio is 14.89%.

About Casey’s General Stores

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.