Shell Asset Management Co. Cuts Stock Holdings in Casey’s General Stores, Inc. $CASY

Shell Asset Management Co. lessened its position in Casey’s General Stores, Inc. (NASDAQ:CASY) by 56.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 798 shares of the company’s stock after selling 1,050 shares during the quarter. Shell Asset Management Co.’s holdings in Casey’s General Stores were worth $451,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CASY. Westside Investment Management Inc. raised its position in shares of Casey’s General Stores by 100.0% in the third quarter. Westside Investment Management Inc. now owns 46 shares of the company’s stock valued at $26,000 after buying an additional 23 shares during the last quarter. Nvwm LLC acquired a new position in Casey’s General Stores during the second quarter worth about $32,000. Atlantic Union Bankshares Corp purchased a new stake in Casey’s General Stores during the 3rd quarter valued at about $33,000. Cornerstone Planning Group LLC raised its holdings in Casey’s General Stores by 490.9% in the 3rd quarter. Cornerstone Planning Group LLC now owns 65 shares of the company’s stock valued at $34,000 after acquiring an additional 54 shares during the last quarter. Finally, Rossby Financial LCC lifted its stake in Casey’s General Stores by 580.0% in the 2nd quarter. Rossby Financial LCC now owns 68 shares of the company’s stock worth $35,000 after purchasing an additional 58 shares in the last quarter. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Weiss Ratings restated a “buy (b)” rating on shares of Casey’s General Stores in a report on Monday, December 29th. Bank of America began coverage on shares of Casey’s General Stores in a research report on Friday, January 9th. They set a “buy” rating on the stock. Northcoast Research cut shares of Casey’s General Stores from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 21st. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $662.00 target price on shares of Casey’s General Stores in a report on Friday, January 23rd. Finally, Wells Fargo & Company increased their price target on shares of Casey’s General Stores from $610.00 to $625.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $615.50.

Casey’s General Stores Price Performance

CASY opened at $661.53 on Wednesday. The stock’s 50-day moving average price is $601.13 and its 200 day moving average price is $560.09. Casey’s General Stores, Inc. has a 12-month low of $372.08 and a 12-month high of $678.67. The company has a current ratio of 1.05, a quick ratio of 0.65 and a debt-to-equity ratio of 0.62. The firm has a market cap of $24.52 billion, a price-to-earnings ratio of 40.68, a PEG ratio of 2.35 and a beta of 0.68.

Casey’s General Stores (NASDAQ:CASY) last released its earnings results on Tuesday, December 9th. The company reported $5.53 earnings per share for the quarter, beating the consensus estimate of $4.92 by $0.61. The company had revenue of $4.51 billion during the quarter, compared to the consensus estimate of $4.51 billion. Casey’s General Stores had a return on equity of 16.89% and a net margin of 3.58%.Casey’s General Stores’s revenue was up 14.2% compared to the same quarter last year. During the same period in the previous year, the company posted $4.85 EPS. As a group, sell-side analysts expect that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey’s General Stores Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Sunday, February 1st were paid a $0.57 dividend. The ex-dividend date was Friday, January 30th. This represents a $2.28 dividend on an annualized basis and a yield of 0.3%. Casey’s General Stores’s payout ratio is currently 14.02%.

Insider Buying and Selling

In other news, Director Moats Maria Castanon acquired 300 shares of the company’s stock in a transaction on Monday, January 5th. The shares were bought at an average cost of $554.66 per share, with a total value of $166,398.00. Following the transaction, the director owned 803 shares in the company, valued at approximately $445,391.98. This trade represents a 59.64% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.54% of the stock is owned by company insiders.

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.