Oppenheimer Asset Management Inc. Trims Stake in Casey’s General Stores, Inc. (NASDAQ:CASY)

Oppenheimer Asset Management Inc. lowered its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 7.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,213 shares of the company’s stock after selling 411 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Casey’s General Stores were worth $2,263,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Flagship Harbor Advisors LLC boosted its stake in Casey’s General Stores by 4.1% during the first quarter. Flagship Harbor Advisors LLC now owns 590 shares of the company’s stock worth $256,000 after acquiring an additional 23 shares in the last quarter. HighPoint Advisor Group LLC boosted its stake in Casey’s General Stores by 1.7% during the fourth quarter. HighPoint Advisor Group LLC now owns 1,468 shares of the company’s stock worth $628,000 after acquiring an additional 25 shares in the last quarter. Burns J W & Co. Inc. NY boosted its stake in Casey’s General Stores by 2.1% during the first quarter. Burns J W & Co. Inc. NY now owns 1,204 shares of the company’s stock worth $522,000 after acquiring an additional 25 shares in the last quarter. Dark Forest Capital Management LP boosted its stake in Casey’s General Stores by 3.2% during the fourth quarter. Dark Forest Capital Management LP now owns 902 shares of the company’s stock worth $357,000 after acquiring an additional 28 shares in the last quarter. Finally, Harbour Investments Inc. boosted its stake in Casey’s General Stores by 3.1% during the fourth quarter. Harbour Investments Inc. now owns 1,002 shares of the company’s stock worth $397,000 after acquiring an additional 30 shares in the last quarter. Institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Stock Down 0.2%

CASY opened at $504.01 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.92 and a debt-to-equity ratio of 0.69. The firm has a 50 day moving average price of $464.14 and a 200-day moving average price of $431.73. Casey’s General Stores, Inc. has a twelve month low of $350.52 and a twelve month high of $514.32. The stock has a market capitalization of $18.74 billion, a price-to-earnings ratio of 34.43, a PEG ratio of 2.51 and a beta of 0.65.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings data on Monday, June 9th. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.69. Casey’s General Stores had a net margin of 3.43% and a return on equity of 16.28%. The firm had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.95 billion. During the same period in the previous year, the company earned $2.34 earnings per share. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. Equities research analysts forecast that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey’s General Stores Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be issued a dividend of $0.57 per share. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.50. This represents a $2.28 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Friday, August 1st. Casey’s General Stores’s dividend payout ratio is currently 13.66%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CASY shares. The Goldman Sachs Group upped their target price on shares of Casey’s General Stores from $385.00 to $450.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 11th. KeyCorp upped their target price on shares of Casey’s General Stores from $500.00 to $550.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 11th. Wall Street Zen upgraded shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research note on Saturday, June 14th. Royal Bank Of Canada set a $438.00 target price on shares of Casey’s General Stores and gave the stock a “sector perform” rating in a research note on Wednesday, March 12th. Finally, BMO Capital Markets upped their target price on shares of Casey’s General Stores from $450.00 to $515.00 and gave the stock a “market perform” rating in a research note on Wednesday, June 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Casey’s General Stores has a consensus rating of “Moderate Buy” and a consensus price target of $453.00.

Insider Buying and Selling at Casey’s General Stores

In other news, insider Katrina S. Lindsey sold 250 shares of Casey’s General Stores stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $437.01, for a total transaction of $109,252.50. Following the transaction, the insider now directly owns 2,443 shares of the company’s stock, valued at $1,067,615.43. The trade was a 9.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Stephen P. Bramlage, Jr. sold 8,478 shares of Casey’s General Stores stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $509.21, for a total value of $4,317,082.38. Following the transaction, the chief financial officer now directly owns 26,754 shares in the company, valued at approximately $13,623,404.34. The trade was a 24.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,136 shares of company stock valued at $21,860,121. Insiders own 0.56% of the company’s stock.

Casey’s General Stores Company Profile

Casey’s General Stores, Inc engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.