Midwest Trust Co Cuts Stock Holdings in Casey’s General Stores, Inc. $CASY

Midwest Trust Co reduced its stake in Casey’s General Stores, Inc. (NASDAQ:CASY) by 6.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,566 shares of the company’s stock after selling 2,128 shares during the period. Midwest Trust Co owned approximately 0.08% of Casey’s General Stores worth $16,149,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Profund Advisors LLC grew its position in shares of Casey’s General Stores by 4.2% during the third quarter. Profund Advisors LLC now owns 860 shares of the company’s stock valued at $486,000 after purchasing an additional 35 shares in the last quarter. Linden Thomas Advisory Services LLC raised its stake in Casey’s General Stores by 4.3% during the third quarter. Linden Thomas Advisory Services LLC now owns 2,964 shares of the company’s stock valued at $1,676,000 after purchasing an additional 122 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in Casey’s General Stores by 22.9% during the third quarter. Oppenheimer Asset Management Inc. now owns 6,048 shares of the company’s stock valued at $3,419,000 after purchasing an additional 1,127 shares during the last quarter. AdvisorShares Investments LLC purchased a new position in shares of Casey’s General Stores in the 3rd quarter worth $170,000. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Casey’s General Stores by 123.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 125 shares of the company’s stock worth $70,000 after buying an additional 69 shares during the last quarter. Institutional investors own 85.63% of the company’s stock.

Insider Transactions at Casey’s General Stores

In other Casey’s General Stores news, Director Moats Maria Castanon purchased 300 shares of Casey’s General Stores stock in a transaction dated 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 transaction, the director owned 803 shares in the company, valued at approximately $445,391.98. This trade represents a 59.64% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.54% of the company’s stock.

Casey’s General Stores Price Performance

Shares of CASY opened at $658.96 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.65 and a current ratio of 1.05. The company has a 50 day moving average price of $589.58 and a 200-day moving average price of $554.33. Casey’s General Stores, Inc. has a fifty-two week low of $372.08 and a fifty-two week high of $666.28. The stock has a market capitalization of $24.43 billion, a PE ratio of 40.53, a PEG ratio of 2.33 and a beta of 0.68.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Tuesday, December 9th. The company reported $5.53 EPS for the quarter, topping analysts’ consensus estimates of $4.92 by $0.61. The company 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 revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.85 earnings per share. Equities analysts predict that Casey’s General Stores, Inc. will post 13.94 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, February 13th. Investors of record on Sunday, February 1st will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, January 30th. This represents a $2.28 dividend on an annualized basis and a yield of 0.3%. Casey’s General Stores’s dividend payout ratio is presently 14.02%.

Wall Street Analyst Weigh In

CASY has been the subject of several analyst reports. Wells Fargo & Company raised their price objective on Casey’s General Stores from $610.00 to $625.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. Wall Street Zen cut Casey’s General Stores from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of Casey’s General Stores in a report on Monday, December 29th. The Goldman Sachs Group restated a “neutral” rating and set a $530.00 price objective on shares of Casey’s General Stores in a report on Wednesday, December 10th. Finally, Zacks Research upgraded Casey’s General Stores from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $613.50.

About Casey’s General Stores

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.