Diversify Advisory Services LLC Decreases Stake in Casey’s General Stores, Inc. (NASDAQ:CASY)

Diversify Advisory Services LLC cut its position in Casey’s General Stores, Inc. (NASDAQ:CASY) by 40.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 556 shares of the company’s stock after selling 370 shares during the period. Diversify Advisory Services LLC’s holdings in Casey’s General Stores were worth $217,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Park Place Capital Corp acquired a new stake in Casey’s General Stores in the second quarter valued at $31,000. Advisors Asset Management Inc. acquired a new stake in shares of Casey’s General Stores during the 1st quarter worth about $32,000. Innealta Capital LLC purchased a new stake in Casey’s General Stores during the second quarter worth approximately $32,000. Bank & Trust Co purchased a new stake in Casey’s General Stores during the second quarter worth approximately $40,000. Finally, V Square Quantitative Management LLC boosted its holdings in Casey’s General Stores by 22.5% in the third quarter. V Square Quantitative Management LLC now owns 158 shares of the company’s stock valued at $59,000 after purchasing an additional 29 shares in the last quarter. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CASY has been the subject of several recent analyst reports. Northcoast Research upgraded shares of Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $410.00 price objective for the company in a research report on Thursday, July 11th. Benchmark reissued a “buy” rating and issued a $410.00 price target on shares of Casey’s General Stores in a research report on Tuesday, September 10th. StockNews.com lowered Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 3rd. Melius Research initiated coverage on Casey’s General Stores in a research report on Monday, September 23rd. They issued a “buy” rating and a $435.00 target price for the company. Finally, JPMorgan Chase & Co. lowered Casey’s General Stores from a “neutral” rating to an “underweight” rating and lifted their price target for the stock from $300.00 to $337.00 in a research report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $408.09.

Casey’s General Stores Price Performance

Casey’s General Stores stock opened at $393.19 on Friday. The business has a 50 day simple moving average of $378.56 and a 200-day simple moving average of $362.82. Casey’s General Stores, Inc. has a 12 month low of $266.56 and a 12 month high of $401.17. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.84 and a quick ratio of 0.44. The stock has a market capitalization of $14.60 billion, a PE ratio of 28.62 and a beta of 0.80.

Casey’s General Stores (NASDAQ:CASY) last released its earnings results on Wednesday, September 4th. The company reported $4.83 EPS for the quarter, topping the consensus estimate of $4.54 by $0.29. The company had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Casey’s General Stores had a net margin of 3.40% and a return on equity of 17.07%. The business’s revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the business earned $4.52 EPS. Equities analysts predict that Casey’s General Stores, Inc. will post 14.01 earnings per share for the current year.

Casey’s General Stores Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date is Friday, November 1st. Casey’s General Stores’s dividend payout ratio (DPR) is 14.56%.

Insider Activity

In other Casey’s General Stores news, insider Thomas P. Brennan, Jr. sold 3,000 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $380.24, for a total value of $1,140,720.00. Following the completion of the transaction, the insider now owns 9,044 shares in the company, valued at approximately $3,438,890.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Thomas P. Brennan, Jr. sold 3,000 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $380.24, for a total transaction of $1,140,720.00. Following the transaction, the insider now directly owns 9,044 shares of the company’s stock, valued at $3,438,890.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Darren M. Rebelez sold 13,500 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $374.54, for a total transaction of $5,056,290.00. Following the completion of the transaction, the chief executive officer now owns 73,838 shares of the company’s stock, valued at $27,655,284.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.56% of the company’s stock.

Casey’s General Stores Company Profile

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. Its stores offer pizza, donuts, breakfast items, and sandwiches; and tobacco and nicotine products. The company's stores provide soft drinks, energy, water, sports drinks, juices, coffee, and tea and dairy products; beer, wine, and spirits; snacks, candy, packaged bakery, and other food items; ice, ice cream, meals, and appetizers; health and beauty aids, automotive products, electronic accessories, housewares, and pet supplies; and ATM, lotto/lottery, and prepaid cards.