Ferguson Wellman Capital Management Inc. Reduces Holdings in Casey’s General Stores, Inc. (NASDAQ:CASY)

Ferguson Wellman Capital Management Inc. cut its stake in Casey’s General Stores, Inc. (NASDAQ:CASY) by 2.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Park Place Capital Corp purchased a new stake in Casey’s General Stores during the 2nd quarter valued at about $31,000. Advisors Asset Management Inc. purchased a new stake in Casey’s General Stores in the first quarter valued at approximately $32,000. Innealta Capital LLC acquired a new position in Casey’s General Stores in the 2nd quarter worth approximately $32,000. Bank & Trust Co acquired a new stake in Casey’s General Stores during the 2nd quarter valued at approximately $40,000. Finally, Venturi Wealth Management LLC lifted its stake in Casey’s General Stores by 941.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 125 shares of the company’s stock valued at $47,000 after acquiring an additional 113 shares during the period. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Casey’s General Stores Stock Performance

Casey’s General Stores stock opened at $405.71 on Friday. The stock has a market cap of $15.06 billion, a price-to-earnings ratio of 29.53 and a beta of 0.79. 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 firm has a 50 day simple moving average of $385.88 and a 200-day simple moving average of $368.62. Casey’s General Stores, Inc. has a 1-year low of $266.56 and a 1-year high of $420.27.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings results on Wednesday, September 4th. The company reported $4.83 EPS 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 quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.52 EPS. On average, analysts expect that Casey’s General Stores, Inc. will post 14.24 EPS for the current year.

Casey’s General Stores Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date is Friday, November 1st. Casey’s General Stores’s dividend payout ratio is presently 14.56%.

Insider Activity

In related news, insider Thomas P. Brennan, Jr. sold 3,000 shares of the business’s 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 sale, the insider now owns 9,044 shares in the company, valued at approximately $3,438,890.56. The trade was a 24.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mike Spanos bought 267 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were purchased at an average price of $376.18 per share, with a total value of $100,440.06. Following the completion of the acquisition, the director now directly owns 2,594 shares in the company, valued at $975,810.92. This trade represents a 11.47 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. cut 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. Royal Bank of Canada lifted their price objective on shares of Casey’s General Stores from $393.00 to $403.00 and gave the company a “sector perform” rating in a report on Thursday, September 5th. Benchmark restated a “buy” rating and issued a $410.00 price objective on shares of Casey’s General Stores in a research report on Tuesday, September 10th. Evercore ISI increased their price objective on shares of Casey’s General Stores from $435.00 to $440.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Gordon Haskett started coverage on Casey’s General Stores in a report on Monday, November 4th. They set a “hold” rating and a $400.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $408.25.

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.