Ferguson Wellman Capital Management Inc. Sells 128 Shares of Casey’s General Stores, Inc. (NASDAQ:CASY)

Ferguson Wellman Capital Management Inc. cut its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 2.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,112 shares of the company’s stock after selling 128 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Casey’s General Stores were worth $1,921,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new stake in shares of Casey’s General Stores in the 3rd quarter worth about $959,880,000. Millennium Management LLC increased its stake in Casey’s General Stores by 3,846.1% during the second quarter. Millennium Management LLC now owns 172,320 shares of the company’s stock worth $65,750,000 after acquiring an additional 176,920 shares during the last quarter. Bridges Investment Management Inc. increased its stake in Casey’s General Stores by 110.0% during the second quarter. Bridges Investment Management Inc. now owns 177,190 shares of the company’s stock worth $67,609,000 after acquiring an additional 92,813 shares during the last quarter. American Century Companies Inc. raised its position in Casey’s General Stores by 189.1% during the second quarter. American Century Companies Inc. now owns 132,375 shares of the company’s stock valued at $50,509,000 after purchasing an additional 86,582 shares during the period. Finally, abrdn plc bought a new stake in shares of Casey’s General Stores in the 3rd quarter valued at approximately $30,538,000. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on CASY shares. Benchmark restated a “buy” rating and set a $410.00 price target on shares of Casey’s General Stores in a report on Tuesday, September 10th. JPMorgan Chase & Co. lowered shares of Casey’s General Stores from a “neutral” rating to an “underweight” rating and raised their target price for the stock from $300.00 to $337.00 in a report on Thursday, September 19th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Casey’s General Stores from $451.00 to $454.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Melius Research assumed coverage on shares of Casey’s General Stores in a research report on Monday, September 23rd. They issued a “buy” rating and a $435.00 price objective on the stock. Finally, Wells Fargo & Company boosted their target price on Casey’s General Stores from $415.00 to $425.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Casey’s General Stores currently has an average rating of “Moderate Buy” and a consensus target price of $408.25.

Casey’s General Stores Price Performance

Shares of CASY stock opened at $405.71 on Friday. The stock has a market capitalization of $15.06 billion, a price-to-earnings ratio of 29.53 and a beta of 0.79. The company has a current ratio of 0.84, a quick ratio of 0.44 and a debt-to-equity ratio of 0.44. Casey’s General Stores, Inc. has a twelve month low of $266.56 and a twelve month high of $420.27. The stock has a fifty day simple moving average of $385.88 and a two-hundred day simple moving average of $368.62.

Casey’s General Stores (NASDAQ:CASY) last issued its earnings results on Wednesday, September 4th. The company reported $4.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.54 by $0.29. Casey’s General Stores had a net margin of 3.40% and a return on equity of 17.07%. The company had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same period in the prior year, the business earned $4.52 EPS. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. On average, analysts predict that Casey’s General Stores, Inc. will post 14.24 EPS 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 15th. Investors of record on Friday, November 1st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date is Friday, November 1st. Casey’s General Stores’s dividend payout ratio (DPR) is 14.56%.

Insiders Place Their Bets

In other news, insider Thomas P. Brennan, Jr. sold 3,000 shares of Casey’s General Stores stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $380.24, for a total value of $1,140,720.00. Following the transaction, the insider now owns 9,044 shares of the company’s stock, valued at $3,438,890.56. The trade was a 24.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mike Spanos bought 267 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were purchased at an average cost of $376.18 per share, with a total value of $100,440.06. Following the transaction, the director now directly owns 2,594 shares of the company’s stock, valued at $975,810.92. The trade was a 11.47 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.56% of the stock is owned by company insiders.

About Casey’s General Stores

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.