First Trust Direct Indexing L.P. Sells 96 Shares of Casey’s General Stores, Inc. (NASDAQ:CASY)

First Trust Direct Indexing L.P. trimmed its position in Casey’s General Stores, Inc. (NASDAQ:CASY) by 11.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 774 shares of the company’s stock after selling 96 shares during the period. First Trust Direct Indexing L.P.’s holdings in Casey’s General Stores were worth $291,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC purchased a new position in Casey’s General Stores during the first quarter worth about $794,000. Nordea Investment Management AB grew its holdings in shares of Casey’s General Stores by 2.0% during the first quarter. Nordea Investment Management AB now owns 21,919 shares of the company’s stock worth $6,976,000 after purchasing an additional 437 shares in the last quarter. Bailard Inc. bought a new position in shares of Casey’s General Stores in the second quarter worth approximately $1,021,000. SG Americas Securities LLC purchased a new stake in Casey’s General Stores in the second quarter valued at approximately $2,183,000. Finally, Cetera Investment Advisers lifted its position in Casey’s General Stores by 255.8% during the first quarter. Cetera Investment Advisers now owns 9,291 shares of the company’s stock valued at $2,959,000 after purchasing an additional 6,680 shares during the last quarter. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Casey’s General Stores Price Performance

Shares of CASY stock opened at $381.08 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.44 and a current ratio of 0.84. The firm has a market cap of $14.15 billion, a P/E ratio of 27.74 and a beta of 0.79. The business’s 50 day moving average price is $378.56 and its 200-day moving average price is $363.55. Casey’s General Stores, Inc. has a fifty-two week low of $266.56 and a fifty-two week high of $401.17.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Wednesday, September 4th. The company reported $4.83 EPS for the quarter, topping the consensus estimate of $4.54 by $0.29. The business had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.15 billion. Casey’s General Stores had a net margin of 3.40% and a return on equity of 17.07%. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the prior year, the business earned $4.52 EPS. On average, equities research analysts anticipate that Casey’s General Stores, Inc. will post 14.01 earnings per share for the current year.

Casey’s General Stores Dividend Announcement

The company also recently declared 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. The ex-dividend date is Friday, November 1st. This represents a $2.00 annualized dividend and a yield of 0.52%. Casey’s General Stores’s payout ratio is 14.56%.

Insiders Place Their Bets

In related news, insider Thomas P. Brennan, Jr. sold 3,000 shares of the stock in a transaction dated 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 completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Mike Spanos bought 267 shares of the stock in a transaction on Wednesday, September 18th. The shares were acquired at an average price of $376.18 per share, for a total transaction of $100,440.06. Following the purchase, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas P. Brennan, Jr. sold 3,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $380.24, for a total transaction of $1,140,720.00. Following the sale, the insider now directly owns 9,044 shares in the company, valued at approximately $3,438,890.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.56% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CASY shares. Evercore ISI increased their price target on shares of Casey’s General Stores from $435.00 to $440.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Melius Research began coverage on Casey’s General Stores in a research note on Monday, September 23rd. They set a “buy” rating and a $435.00 price target for the company. Royal Bank of Canada increased their price objective on Casey’s General Stores from $393.00 to $403.00 and gave the company a “sector perform” rating in a research report on Thursday, September 5th. Benchmark restated a “buy” rating and issued a $410.00 target price on shares of Casey’s General Stores in a research report on Tuesday, September 10th. Finally, Northcoast Research raised Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $410.00 target price for the company in a research note on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Casey’s General Stores currently has a consensus rating of “Moderate Buy” and a consensus target price of $407.42.

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.