Raymond James & Associates lowered its holdings in Casey’s General Stores (NASDAQ:CASY) by 18.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 27,854 shares of the company’s stock after selling 6,432 shares during the quarter. Raymond James & Associates’ holdings in Casey’s General Stores were worth $3,118,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in CASY. Carillon Tower Advisers Inc. acquired a new stake in Casey’s General Stores in the 4th quarter valued at approximately $48,505,000. Janus Henderson Group PLC grew its holdings in Casey’s General Stores by 20.4% in the 3rd quarter. Janus Henderson Group PLC now owns 1,825,662 shares of the company’s stock valued at $199,819,000 after buying an additional 309,263 shares during the last quarter. Bain Capital Public Equity Management LLC acquired a new stake in Casey’s General Stores in the 4th quarter valued at approximately $21,801,000. Baird Financial Group Inc. grew its holdings in Casey’s General Stores by 47.4% in the 4th quarter. Baird Financial Group Inc. now owns 353,624 shares of the company’s stock valued at $39,585,000 after buying an additional 113,649 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Casey’s General Stores by 34.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 393,898 shares of the company’s stock valued at $44,093,000 after buying an additional 100,788 shares during the last quarter. 98.03% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CASY stock opened at $107.18 on Friday. The company has a quick ratio of 0.48, a current ratio of 1.03 and a debt-to-equity ratio of 0.98. Casey’s General Stores has a 12 month low of $99.76 and a 12 month high of $128.51. The company has a market capitalization of $4,023.11, a price-to-earnings ratio of 26.93, a PEG ratio of 2.10 and a beta of 0.59.
Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Wednesday, March 7th. The company reported $0.48 EPS for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.14). Casey’s General Stores had a return on equity of 12.70% and a net margin of 4.03%. The firm had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the prior year, the business posted $0.58 EPS. Casey’s General Stores’s revenue was up 16.1% compared to the same quarter last year. equities research analysts forecast that Casey’s General Stores will post 4.07 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Tuesday, May 1st will be given a $0.26 dividend. The ex-dividend date is Monday, April 30th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.97%. Casey’s General Stores’s dividend payout ratio is currently 23.21%.
Casey’s General Stores declared that its board has approved a stock buyback program on Wednesday, March 7th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
A number of research firms have issued reports on CASY. BidaskClub raised Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Wednesday. Goldman Sachs began coverage on Casey’s General Stores in a report on Thursday. They issued a “neutral” rating and a $106.00 target price on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $118.00 target price (up previously from $112.00) on shares of Casey’s General Stores in a report on Thursday, March 8th. Stephens set a $140.00 target price on Casey’s General Stores and gave the company a “buy” rating in a report on Wednesday, March 21st. Finally, Zacks Investment Research lowered Casey’s General Stores from a “buy” rating to a “hold” rating in a report on Monday, March 12th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $122.91.
In other Casey’s General Stores news, VP William J. Walljasper sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $108.85, for a total value of $108,850.00. Following the completion of the sale, the vice president now owns 21,452 shares in the company, valued at approximately $2,335,050.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Terry W. Handley sold 1,342 shares of the firm’s stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $110.65, for a total value of $148,492.30. Following the transaction, the insider now owns 29,331 shares of the company’s stock, valued at approximately $3,245,475.15. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.
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Casey’s General Stores Company Profile
Casey’s General Stores, Inc and its subsidiaries, operate convenience stores under the name Casey’s General Store in approximately 10 Midwestern states, in Iowa, Missouri, and Illinois. The Company also operates approximately two stores selling primarily tobacco products. The stores carry a range of food, including freshly prepared foods such as pizza, donuts, and sandwiches, beverages, tobacco products, health and beauty aids, automotive products and other nonfood items.
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