Genus Capital Management Inc. Sells 1,000 Shares of Casey’s General Stores, Inc. $CASY

Genus Capital Management Inc. lessened its stake in Casey’s General Stores, Inc. (NASDAQ:CASY) by 32.3% in the second quarter, HoldingsChannel reports. The fund owned 2,100 shares of the company’s stock after selling 1,000 shares during the period. Genus Capital Management Inc.’s holdings in Casey’s General Stores were worth $1,072,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Wellington Management Group LLP lifted its stake in shares of Casey’s General Stores by 190.6% in the 1st quarter. Wellington Management Group LLP now owns 1,244,311 shares of the company’s stock valued at $540,081,000 after acquiring an additional 816,110 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Casey’s General Stores by 42.0% in the 1st quarter. JPMorgan Chase & Co. now owns 1,036,426 shares of the company’s stock valued at $449,851,000 after acquiring an additional 306,628 shares during the last quarter. Raymond James Financial Inc. lifted its stake in shares of Casey’s General Stores by 8.9% in the 1st quarter. Raymond James Financial Inc. now owns 649,815 shares of the company’s stock valued at $282,045,000 after acquiring an additional 52,939 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Casey’s General Stores by 9.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 448,919 shares of the company’s stock valued at $229,070,000 after acquiring an additional 37,625 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Casey’s General Stores by 0.6% in the 1st quarter. Northern Trust Corp now owns 334,445 shares of the company’s stock valued at $145,163,000 after acquiring an additional 1,941 shares during the last quarter. Institutional investors own 85.63% of the company’s stock.

Wall Street Analyst Weigh In

CASY has been the subject of a number of recent research reports. Zacks Research raised Casey’s General Stores from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. BMO Capital Markets boosted their price target on Casey’s General Stores from $515.00 to $540.00 and gave the company a “market perform” rating in a report on Wednesday, September 10th. Royal Bank Of Canada boosted their price target on Casey’s General Stores from $468.00 to $542.00 and gave the company a “sector perform” rating in a report on Wednesday, July 9th. KeyCorp boosted their price target on Casey’s General Stores from $550.00 to $575.00 and gave the company an “overweight” rating in a report on Friday, July 25th. Finally, Jefferies Financial Group boosted their price target on Casey’s General Stores from $575.00 to $600.00 and gave the company a “buy” rating in a report on Tuesday, September 9th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned 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 $564.00.

Casey’s General Stores Stock Up 0.5%

CASY stock opened at $525.64 on Thursday. Casey’s General Stores, Inc. has a fifty-two week low of $372.08 and a fifty-two week high of $572.18. The business’s 50 day moving average price is $540.34 and its two-hundred day moving average price is $506.66. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.61 and a current ratio of 1.03. The company has a market capitalization of $19.54 billion, a price-to-earnings ratio of 33.74 and a beta of 0.68.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Monday, September 8th. The company reported $5.77 earnings per share for the quarter, topping analysts’ consensus estimates of $5.02 by $0.75. Casey’s General Stores had a return on equity of 16.73% and a net margin of 3.54%.The firm had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.47 billion. During the same quarter in the prior year, the business earned $4.83 EPS. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. As a group, analysts forecast 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Saturday, November 1st will be given a $0.57 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a $2.28 annualized dividend and a yield of 0.4%. Casey’s General Stores’s dividend payout ratio is 14.63%.

Insider Transactions at Casey’s General Stores

In related news, insider Chad Michael Frazell sold 3,487 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $555.40, for a total value of $1,936,679.80. Following the transaction, the insider directly owned 7,993 shares of the company’s stock, valued at approximately $4,439,312.20. This represents a 30.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.54% of the company’s stock.

Casey’s General Stores Profile

Casey’s General Stores, Inc engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.