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

Xponance Inc. reduced its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 6.4% in the second quarter, Holdings Channel reports. The institutional investor owned 4,587 shares of the company’s stock after selling 313 shares during the period. Xponance Inc.’s holdings in Casey’s General Stores were worth $1,750,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Rise Advisors LLC bought a new stake in shares of Casey’s General Stores during the 1st quarter valued at $30,000. Park Place Capital Corp purchased a new stake in Casey’s General Stores in the second quarter worth about $31,000. Advisors Asset Management Inc. purchased a new position in shares of Casey’s General Stores during the 1st quarter valued at about $32,000. Innealta Capital LLC purchased a new position in shares of Casey’s General Stores during the 2nd quarter valued at about $32,000. Finally, V Square Quantitative Management LLC bought a new position in shares of Casey’s General Stores during the 4th quarter valued at approximately $35,000. 85.63% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Mike Spanos acquired 267 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were acquired at an average cost of $376.18 per share, for a total transaction of $100,440.06. Following the completion of the transaction, the director now directly owns 2,594 shares in the company, valued at approximately $975,810.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Mike Spanos bought 267 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were purchased at an average price of $376.18 per share, with a total value of $100,440.06. Following the transaction, the director now owns 2,594 shares in the company, valued at approximately $975,810.92. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Darren M. Rebelez sold 13,500 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $374.54, for a total value of $5,056,290.00. Following the sale, the chief executive officer now owns 73,838 shares in the company, valued at approximately $27,655,284.52. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by company insiders.

Casey’s General Stores Stock Up 0.5 %

Shares of CASY opened at $373.76 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.84 and a quick ratio of 0.44. The stock has a market capitalization of $13.87 billion, a price-to-earnings ratio of 27.83 and a beta of 0.80. Casey’s General Stores, Inc. has a 1 year low of $260.13 and a 1 year high of $401.07. The business’s 50 day simple moving average is $373.83 and its 200-day simple moving average is $349.36.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Wednesday, September 4th. The company reported $4.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.54 by $0.29. Casey’s General Stores had a net margin of 3.40% and a return on equity of 17.07%. The company had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter in the prior year, the firm earned $4.52 earnings per share. Casey’s General Stores’s revenue was up 5.9% on a year-over-year basis. As a group, equities analysts expect that Casey’s General Stores, Inc. will post 14.01 earnings per share for the current fiscal year.

Casey’s General Stores Dividend Announcement

The firm also recently declared 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. This represents a $2.00 dividend on an annualized basis and a dividend 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%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Casey’s General Stores from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Melius Research began coverage on shares of Casey’s General Stores in a report on Monday. They issued a “buy” rating and a $435.00 target price for the company. Evercore ISI increased their price target on 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. BMO Capital Markets boosted their price objective on Casey’s General Stores from $305.00 to $400.00 and gave the company a “market perform” rating in a research report on Thursday, June 13th. Finally, Benchmark reiterated 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $407.64.

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.