Alps Advisors Inc. Sells 8,577 Shares of Casey’s General Stores, Inc. $CASY

Alps Advisors Inc. lessened its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 91.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 820 shares of the company’s stock after selling 8,577 shares during the period. Alps Advisors Inc.’s holdings in Casey’s General Stores were worth $464,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CASY. Cannon Global Investment Management LLC acquired a new position in Casey’s General Stores during the third quarter worth approximately $1,018,000. UNIVEST FINANCIAL Corp boosted its position in Casey’s General Stores by 157.2% during the second quarter. UNIVEST FINANCIAL Corp now owns 8,556 shares of the company’s stock worth $4,366,000 after purchasing an additional 5,230 shares during the period. Franklin Resources Inc. raised its holdings in Casey’s General Stores by 0.3% in the 2nd quarter. Franklin Resources Inc. now owns 708,893 shares of the company’s stock valued at $361,727,000 after acquiring an additional 2,467 shares during the period. Thrivent Financial for Lutherans lifted its holdings in Casey’s General Stores by 1.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 191,156 shares of the company’s stock worth $108,065,000 after purchasing an additional 1,950 shares during the last quarter. Finally, AE Wealth Management LLC boosted its stake in Casey’s General Stores by 82.3% in the 3rd quarter. AE Wealth Management LLC now owns 2,574 shares of the company’s stock valued at $1,456,000 after purchasing an additional 1,162 shares during the period. 85.63% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Bank of America began coverage on shares of Casey’s General Stores in a research note on Friday, January 9th. They issued a “buy” rating for the company. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $530.00 price target on shares of Casey’s General Stores in a report on Wednesday, December 10th. UBS Group reissued a “neutral” rating on shares of Casey’s General Stores in a report on Thursday, December 11th. Deutsche Bank Aktiengesellschaft set a $688.00 price objective on Casey’s General Stores in a research report on Thursday, January 8th. Finally, Evercore lifted their target price on Casey’s General Stores from $585.00 to $610.00 and gave the company an “outperform” rating in a research report on Tuesday, December 2nd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Casey’s General Stores presently has an average rating of “Moderate Buy” and a consensus price target of $615.50.

Insider Activity

In related news, Director Moats Maria Castanon bought 300 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The shares were acquired at an average cost of $554.66 per share, with a total value of $166,398.00. Following the completion of the purchase, the director directly owned 803 shares in the company, valued at $445,391.98. The trade was a 59.64% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.54% of the stock is owned by insiders.

Casey’s General Stores Trading Up 0.3%

Shares of CASY stock opened at $665.86 on Friday. Casey’s General Stores, Inc. has a 1-year low of $372.08 and a 1-year high of $678.67. The company has a current ratio of 1.05, a quick ratio of 0.65 and a debt-to-equity ratio of 0.62. The stock has a 50-day moving average of $597.18 and a 200-day moving average of $557.60. The stock has a market cap of $24.68 billion, a price-to-earnings ratio of 40.95, a PEG ratio of 2.35 and a beta of 0.68.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Tuesday, December 9th. The company reported $5.53 earnings per share for the quarter, topping analysts’ consensus estimates of $4.92 by $0.61. The business had revenue of $4.51 billion during the quarter, compared to the consensus estimate of $4.51 billion. Casey’s General Stores had a net margin of 3.58% and a return on equity of 16.89%. Casey’s General Stores’s quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter last year, the firm earned $4.85 earnings per share. On average, 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Sunday, February 1st were paid a $0.57 dividend. The ex-dividend date of this dividend was Friday, January 30th. This represents a $2.28 annualized dividend and a yield of 0.3%. Casey’s General Stores’s payout ratio is 14.02%.

Casey’s General Stores Profile

Casey’s General Stores, Inc (NASDAQ: CASY) is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.