DAVENPORT & Co LLC Sells 19,334 Shares of Casey’s General Stores, Inc. $CASY

DAVENPORT & Co LLC lessened its holdings in Casey’s General Stores, Inc. (NASDAQ:CASY) by 16.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 96,747 shares of the company’s stock after selling 19,334 shares during the quarter. DAVENPORT & Co LLC owned 0.26% of Casey’s General Stores worth $54,497,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Nvwm LLC acquired a new stake in Casey’s General Stores in the 2nd quarter valued at $32,000. Rossby Financial LCC grew its holdings in shares of Casey’s General Stores by 580.0% in the 2nd quarter. Rossby Financial LCC now owns 68 shares of the company’s stock valued at $35,000 after acquiring an additional 58 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Casey’s General Stores in the second quarter valued at about $42,000. Osterweis Capital Management Inc. acquired a new stake in shares of Casey’s General Stores in the second quarter valued at about $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in Casey’s General Stores by 242.9% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 96 shares of the company’s stock worth $49,000 after acquiring an additional 68 shares in the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on CASY. Evercore ISI raised their price target on Casey’s General Stores from $585.00 to $610.00 and gave the company an “outperform” rating in a research note on Tuesday, December 2nd. UBS Group reissued a “neutral” rating on shares of Casey’s General Stores in a research note on Thursday, December 11th. Royal Bank Of Canada boosted their target price on shares of Casey’s General Stores from $570.00 to $591.00 and gave the stock a “sector perform” rating in a report on Wednesday, December 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Casey’s General Stores in a research report on Monday. Finally, BMO Capital Markets lifted their price objective on shares of Casey’s General Stores from $515.00 to $540.00 and gave the company a “market perform” rating in a research report on Wednesday, September 10th. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $585.67.

Casey’s General Stores Stock Down 1.2%

CASY opened at $566.98 on Wednesday. The stock’s fifty day simple moving average is $547.69 and its 200 day simple moving average is $531.58. Casey’s General Stores, Inc. has a 1-year low of $372.08 and a 1-year high of $575.98. The stock has a market cap of $21.02 billion, a PE ratio of 34.87 and a beta of 0.65. The company has a current ratio of 1.05, a quick ratio of 0.65 and a debt-to-equity ratio of 0.62.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings data on Tuesday, December 9th. The company reported $5.53 EPS for the quarter, beating the consensus estimate of $4.92 by $0.61. The firm had revenue of $4.51 billion for 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%. The company’s quarterly revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the company earned $4.85 earnings per share. As a group, research analysts expect that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey’s General Stores Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Sunday, February 1st will be paid a $0.57 dividend. The ex-dividend date is Friday, January 30th. This represents a $2.28 dividend on an annualized basis and a yield of 0.4%. Casey’s General Stores’s dividend payout ratio is 14.02%.

Insiders Place Their Bets

In other Casey’s General Stores news, insider Chad Michael Frazell sold 3,487 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $555.40, for a total transaction of $1,936,679.80. Following the completion of the sale, the insider directly owned 7,993 shares in the company, valued at $4,439,312.20. This trade represents a 30.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.54% of the stock is currently owned by corporate 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.