ProShare Advisors LLC Reduces Stock Holdings in Casey’s General Stores, Inc. $CASY

ProShare Advisors LLC cut its holdings in Casey’s General Stores, Inc. (NASDAQ:CASY) by 8.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 67,751 shares of the company’s stock after selling 6,157 shares during the quarter. ProShare Advisors LLC owned about 0.18% of Casey’s General Stores worth $38,301,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CASY. NewEdge Advisors LLC increased its position in shares of Casey’s General Stores by 6.4% in the 1st quarter. NewEdge Advisors LLC now owns 1,871 shares of the company’s stock valued at $812,000 after acquiring an additional 113 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of Casey’s General Stores by 129.6% during the first quarter. Geneos Wealth Management Inc. now owns 186 shares of the company’s stock worth $81,000 after purchasing an additional 105 shares during the period. Blair William & Co. IL boosted its position in Casey’s General Stores by 2.2% in the second quarter. Blair William & Co. IL now owns 7,253 shares of the company’s stock valued at $3,701,000 after buying an additional 153 shares during the last quarter. IFP Advisors Inc increased its holdings in Casey’s General Stores by 71.7% in the 2nd quarter. IFP Advisors Inc now owns 1,025 shares of the company’s stock worth $523,000 after buying an additional 428 shares during the period. Finally, PDS Planning Inc purchased a new position in Casey’s General Stores during the 2nd quarter worth approximately $228,000. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Stock Down 0.3%

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

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Tuesday, December 9th. The company reported $5.53 EPS for the quarter, topping the consensus estimate of $4.92 by $0.61. The business had revenue of $4.51 billion during the quarter, compared to analyst estimates of $4.51 billion. Casey’s General Stores had a return on equity of 16.89% and a net margin of 3.58%.The company’s quarterly revenue was up 14.2% on a year-over-year basis. During the same period last year, the business posted $4.85 earnings per share. 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 company also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Sunday, February 1st will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Friday, January 30th. Casey’s General Stores’s payout ratio is currently 14.02%.

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 price of $554.66 per share, with a total value of $166,398.00. Following the completion of the transaction, the director owned 803 shares of the company’s stock, valued at $445,391.98. This trade represents 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 link. 0.54% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Bank of America started coverage on shares of Casey’s General Stores in a report on Friday, January 9th. They issued a “buy” rating for the company. Wells Fargo & Company lifted their price objective on Casey’s General Stores from $610.00 to $625.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 2nd. The Goldman Sachs Group restated a “neutral” rating and issued a $530.00 target price on shares of Casey’s General Stores in a report on Wednesday, December 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of Casey’s General Stores in a report on Monday, December 29th. Finally, Northcoast Research lowered shares of Casey’s General Stores from a “buy” rating to a “neutral” rating in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $613.50.

Casey’s General Stores Company 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.