Dimensional Fund Advisors LP Cuts Position in Casey’s General Stores, Inc. $CASY

Dimensional Fund Advisors LP decreased its holdings in Casey’s General Stores, Inc. (NASDAQ:CASY) by 2.7% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 448,649 shares of the company’s stock after selling 12,527 shares during the period. Dimensional Fund Advisors LP owned approximately 1.21% of Casey’s General Stores worth $326,492,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. NewEdge Advisors LLC grew its stake in shares of Casey’s General Stores by 6.4% in the first quarter. NewEdge Advisors LLC now owns 1,871 shares of the company’s stock valued at $812,000 after buying an additional 113 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in Casey’s General Stores by 129.6% in the first quarter. Geneos Wealth Management Inc. now owns 186 shares of the company’s stock valued at $81,000 after acquiring an additional 105 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Casey’s General Stores by 431.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company’s stock valued at $111,000 after purchasing an additional 177 shares in the last quarter. Amundi acquired a new position in Casey’s General Stores in the second quarter worth about $338,000. Finally, Jump Financial LLC increased its holdings in Casey’s General Stores by 42.6% in the second quarter. Jump Financial LLC now owns 968 shares of the company’s stock valued at $494,000 after buying an additional 289 shares during the last quarter. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Morgan Stanley upgraded Casey’s General Stores to a “buy” rating in a research report on Wednesday, June 10th. Wall Street Zen raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Royal Bank Of Canada boosted their price objective on shares of Casey’s General Stores from $794.00 to $850.00 and gave the company a “sector perform” rating in a research report on Thursday, June 25th. Wolfe Research reissued an “outperform” rating and issued a $1,069.00 target price on shares of Casey’s General Stores in a report on Thursday, June 11th. Finally, BMO Capital Markets upgraded Casey’s General Stores from a “market perform” rating to an “outperform” rating and set a $950.00 price target on the stock in a research report on Monday, June 29th. Fourteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $940.00.

Casey’s General Stores Price Performance

Shares of NASDAQ:CASY opened at $858.26 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59. The firm’s 50 day moving average is $822.17 and its two-hundred day moving average is $737.11. The firm has a market capitalization of $31.76 billion, a P/E ratio of 44.79, a PEG ratio of 2.60 and a beta of 0.62. Casey’s General Stores, Inc. has a 52 week low of $490.00 and a 52 week high of $927.85.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, beating the consensus estimate of $3.31 by $1.06. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.The firm had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.33 billion. During the same period last year, the firm earned $2.63 EPS. The firm’s revenue was up 14.5% compared to the same quarter last year. Analysts anticipate that Casey’s General Stores, Inc. will post 21.14 earnings per share for the current year.

Casey’s General Stores Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Saturday, August 1st will be given a dividend of $0.65 per share. This is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, July 31st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.3%. Casey’s General Stores’s payout ratio is presently 11.90%.

Insiders Place Their Bets

In other news, insider Chad Michael Frazell sold 3,013 shares of Casey’s General Stores stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $787.49, for a total transaction of $2,372,707.37. Following the transaction, the insider directly owned 9,823 shares in the company, valued at approximately $7,735,514.27. This trade represents a 23.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Allison M. Wing sold 530 shares of the company’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $837.58, for a total value of $443,917.40. Following the completion of the sale, the director owned 3,042 shares of the company’s stock, valued at approximately $2,547,918.36. This trade represents a 14.84% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 30,243 shares of company stock valued at $24,421,877. 0.54% of the stock is currently owned by insiders.

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.