Sterling Capital Management LLC Sells 2,315 Shares of Casey’s General Stores, Inc. $CASY

Sterling Capital Management LLC trimmed its holdings in Casey’s General Stores, Inc. (NASDAQ:CASY) by 15.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,145 shares of the company’s stock after selling 2,315 shares during the period. Sterling Capital Management LLC’s holdings in Casey’s General Stores were worth $7,998,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Daiichi Life Insurance Co. Ltd. acquired a new position in Casey’s General Stores in the second quarter valued at $1,222,000. National Pension Service increased its stake in Casey’s General Stores by 3,138.9% during the second quarter. National Pension Service now owns 67,466 shares of the company’s stock worth $53,621,000 after acquiring an additional 65,383 shares during the last quarter. NEOS Investment Management LLC acquired a new stake in Casey’s General Stores during the second quarter worth about $4,602,000. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Casey’s General Stores by 52.0% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 17,079 shares of the company’s stock worth $12,431,000 after purchasing an additional 5,846 shares during the period. Finally, Jefferies Financial Group Inc. acquired a new position in shares of Casey’s General Stores in the 2nd quarter valued at about $15,114,000. 85.63% of the stock is owned by institutional investors and hedge funds.

Casey’s General Stores Stock Down 2.0%

NASDAQ:CASY traded down $14.39 during trading hours on Friday, hitting $699.26. The stock had a trading volume of 435,324 shares, compared to its average volume of 517,181. The company has a current ratio of 1.02, a quick ratio of 0.61 and a debt-to-equity ratio of 0.57. Casey’s General Stores, Inc. has a 1-year low of $497.38 and a 1-year high of $927.85. The business has a 50 day simple moving average of $686.97 and a two-hundred day simple moving average of $773.16. The company has a market cap of $25.84 billion, a PE ratio of 33.68, a price-to-earnings-growth ratio of 2.31 and a beta of 0.59.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Tuesday, September 8th. The company reported $7.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.78 by $0.59. Casey’s General Stores had a net margin of 4.14% and a return on equity of 19.68%. The company had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.56 billion. During the same quarter last year, the firm posted $5.77 earnings per share. The business’s quarterly revenue was up 24.3% on a year-over-year basis. Analysts predict that Casey’s General Stores, Inc. will post 21.61 EPS 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 13th. Stockholders of record on Sunday, November 1st will be paid a dividend of $0.65 per share. The ex-dividend date is Friday, October 30th. This represents a $2.60 annualized dividend and a dividend yield of 0.4%. Casey’s General Stores’s dividend payout ratio (DPR) is currently 12.52%.

Analyst Ratings Changes

A number of research analysts have weighed in on CASY shares. William Blair reaffirmed an “outperform” rating on shares of Casey’s General Stores in a research report on Wednesday, September 16th. BMO Capital Markets set a $810.00 target price on shares of Casey’s General Stores in a research note on Thursday, September 10th. UBS Group reduced their target price on shares of Casey’s General Stores from $925.00 to $720.00 and set a “neutral” rating on the stock in a report on Thursday, September 10th. Raymond James Financial raised shares of Casey’s General Stores from a “market perform” rating to an “outperform” rating and set a $750.00 price target for the company in a research report on Thursday, September 10th. Finally, Northcoast Research upgraded Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $950.00 price target for the company in a report on Monday, July 13th. Sixteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $835.38.

About Casey’s General Stores

Casey’s General Stores, Inc (NASDAQ: CASY) is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.