SG Americas Securities LLC Reduces Position in Casey’s General Stores, Inc. (NASDAQ:CASY)

SG Americas Securities LLC decreased its position in Casey’s General Stores, Inc. (NASDAQ:CASY) by 53.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,639 shares of the company’s stock after selling 3,083 shares during the period. SG Americas Securities LLC’s holdings in Casey’s General Stores were worth $991,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Janus Henderson Group PLC grew its holdings in Casey’s General Stores by 1.4% in the 1st quarter. Janus Henderson Group PLC now owns 768,060 shares of the company’s stock worth $244,592,000 after acquiring an additional 10,841 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Casey’s General Stores by 3.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 468,650 shares of the company’s stock valued at $178,822,000 after purchasing an additional 14,750 shares during the period. Envestnet Asset Management Inc. increased its holdings in Casey’s General Stores by 20.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 458,044 shares of the company’s stock valued at $174,771,000 after purchasing an additional 77,515 shares during the period. Congress Asset Management Co. MA bought a new position in Casey’s General Stores during the 1st quarter valued at approximately $112,081,000. Finally, Principal Financial Group Inc. lifted its holdings in Casey’s General Stores by 113.0% in the 1st quarter. Principal Financial Group Inc. now owns 291,838 shares of the company’s stock worth $92,936,000 after buying an additional 154,803 shares during the period. 85.63% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Casey’s General Stores

In related 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 sale, the chief executive officer now owns 73,838 shares of the company’s stock, valued at $27,655,284.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Darren M. Rebelez sold 13,500 shares of Casey’s General Stores stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $374.54, for a total value of $5,056,290.00. Following the completion of the sale, the chief executive officer now directly owns 73,838 shares in the company, valued at approximately $27,655,284.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mike Spanos bought 267 shares of the stock in a transaction on Wednesday, September 18th. The shares were bought at an average price of $376.18 per share, for a total transaction of $100,440.06. Following the purchase, the director now directly owns 2,594 shares in the company, valued at approximately $975,810.92. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.47% of the company’s stock.

Casey’s General Stores Stock Performance

Shares of CASY opened at $380.88 on Friday. Casey’s General Stores, Inc. has a 52 week low of $260.13 and a 52 week high of $401.07. The company has a quick ratio of 0.44, a current ratio of 0.84 and a debt-to-equity ratio of 0.44. The stock has a market cap of $14.13 billion, a P/E ratio of 28.36 and a beta of 0.80. The business’s 50 day moving average price is $372.68 and its 200-day moving average price is $354.24.

Casey’s General Stores (NASDAQ:CASY) last released its earnings results on Wednesday, September 4th. The company reported $4.83 EPS for the quarter, topping analysts’ consensus estimates of $4.54 by $0.29. The firm had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.15 billion. Casey’s General Stores had a return on equity of 17.07% and a net margin of 3.40%. The company’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the firm posted $4.52 earnings per share. Equities research analysts anticipate 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 company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $2.00 annualized dividend and a yield of 0.53%. Casey’s General Stores’s dividend payout ratio (DPR) is presently 14.89%.

Analysts Set New Price Targets

CASY has been the subject of a number of recent analyst reports. Evercore ISI upped their target price on Casey’s General Stores from $410.00 to $435.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Casey’s General Stores from $420.00 to $444.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Wells Fargo & Company boosted 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 research report on Friday, September 6th. BMO Capital Markets increased their price target 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. Finally, Northcoast Research raised Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $410.00 price objective on the stock in a research report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Casey’s General Stores has a consensus rating of “Moderate Buy” and an average price target 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.