Citigroup Inc. Lowers Holdings in Casey’s General Stores, Inc. (NASDAQ:CASY)

Citigroup Inc. trimmed its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY – Get Rating) by 10.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,792 shares of the company’s stock after selling 1,345 shares during the period. Citigroup Inc.’s holdings in Casey’s General Stores were worth $2,646,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of CASY. Goldman Sachs Group Inc. raised its holdings in shares of Casey’s General Stores by 152.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 384,281 shares of the company’s stock worth $76,153,000 after acquiring an additional 232,277 shares in the last quarter. Wedge Capital Management L L P NC bought a new position in shares of Casey’s General Stores during the 4th quarter valued at approximately $33,861,000. Renaissance Technologies LLC increased its position in shares of Casey’s General Stores by 2,025.8% during the 3rd quarter. Renaissance Technologies LLC now owns 118,872 shares of the company’s stock valued at $24,074,000 after purchasing an additional 113,280 shares during the last quarter. Weiss Multi Strategy Advisers LLC bought a new position in shares of Casey’s General Stores during the 1st quarter valued at approximately $21,799,000. Finally, WealthPlan Investment Management LLC bought a new position in Casey’s General Stores in the 3rd quarter valued at $17,160,000. 84.74% of the stock is owned by hedge funds and other institutional investors.

Casey’s General Stores Trading Down 1.0 %

Shares of NASDAQ CASY opened at $227.22 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.10 and a quick ratio of 0.66. The stock has a market capitalization of $8.47 billion, a P/E ratio of 18.89 and a beta of 0.82. Casey’s General Stores, Inc. has a 1-year low of $181.40 and a 1-year high of $249.90. The business has a fifty day moving average price of $222.74 and a 200 day moving average price of $226.08.

Casey’s General Stores (NASDAQ:CASY – Get Rating) last issued its quarterly earnings data on Wednesday, March 8th. The company reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.53. The firm had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.35 billion. Casey’s General Stores had a return on equity of 18.02% and a net margin of 2.96%. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.71 EPS. Equities research analysts expect that Casey’s General Stores, Inc. will post 11.66 EPS for the current fiscal year.

Casey’s General Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Investors of record on Monday, May 1st were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date was Friday, April 28th. Casey’s General Stores’s dividend payout ratio (DPR) is currently 12.64%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CASY. StockNews.com began coverage on Casey’s General Stores in a research report on Thursday, May 18th. They issued a “strong-buy” rating on the stock. Stephens reaffirmed an “overweight” rating and issued a $280.00 price objective on shares of Casey’s General Stores in a research report on Wednesday, March 8th. Royal Bank of Canada upped their price objective on Casey’s General Stores from $268.00 to $273.00 and gave the company a “sector perform” rating in a research report on Wednesday, March 8th. JPMorgan Chase & Co. raised Casey’s General Stores from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $173.00 to $211.00 in a research report on Friday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Casey’s General Stores from $285.00 to $294.00 and gave the company a “buy” rating in a research report on Thursday, March 9th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Casey’s General Stores presently has a consensus rating of “Moderate Buy” and a consensus price target of $260.50.

About Casey’s General Stores

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Casey’s General Stores, Inc engages in the management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.