Rheos Capital Works Inc. Reduces Stock Holdings in Casey’s General Stores, Inc. (NASDAQ:CASY)

Rheos Capital Works Inc. lowered its position in Casey’s General Stores, Inc. (NASDAQ:CASY) by 56.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,600 shares of the company’s stock after selling 37,500 shares during the quarter. Rheos Capital Works Inc.’s holdings in Casey’s General Stores were worth $10,745,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Park Place Capital Corp purchased a new position in shares of Casey’s General Stores in the second quarter valued at $31,000. Innealta Capital LLC purchased a new stake in Casey’s General Stores during the 2nd quarter worth about $32,000. Rise Advisors LLC purchased a new stake in Casey’s General Stores during the 1st quarter worth about $30,000. Advisors Asset Management Inc. purchased a new stake in Casey’s General Stores during the 1st quarter worth about $32,000. Finally, Bank & Trust Co purchased a new stake in Casey’s General Stores during the 2nd quarter worth about $40,000. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Wall Street Analysts Forecast Growth

CASY has been the subject of a number of recent research reports. Evercore ISI lifted their price objective on Casey’s General Stores from $435.00 to $440.00 and gave the stock an “outperform” rating in a research report on Wednesday. Wells Fargo & Company lifted their price objective on Casey’s General Stores from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Benchmark reiterated a “buy” rating and set a $410.00 price objective on shares of Casey’s General Stores in a research report on Tuesday, September 10th. StockNews.com cut Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 3rd. Finally, JPMorgan Chase & Co. lowered Casey’s General Stores from a “neutral” rating to an “underweight” rating and raised their price target for the stock from $300.00 to $337.00 in a research note on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $408.09.

Casey’s General Stores Stock Performance

NASDAQ CASY opened at $389.72 on Thursday. The firm has a market capitalization of $14.46 billion, a P/E ratio of 29.02 and a beta of 0.80. Casey’s General Stores, Inc. has a 1-year low of $260.13 and a 1-year high of $401.07. 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 business’s 50-day simple moving average is $374.09 and its 200-day simple moving average is $356.47.

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

Casey’s General Stores Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend is Friday, November 1st. Casey’s General Stores’s dividend payout ratio is currently 14.89%.

Insider Activity

In other news, insider Thomas P. Brennan, Jr. sold 3,000 shares of Casey’s General Stores stock in a transaction dated 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 transaction, the insider now directly owns 9,044 shares of the company’s stock, valued at $3,438,890.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Mike Spanos purchased 267 shares of Casey’s General Stores 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 owns 2,594 shares of the company’s stock, valued at approximately $975,810.92. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Thomas P. Brennan, Jr. sold 3,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 9,044 shares in the company, valued at $3,438,890.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.

Casey’s General Stores 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.