Congress Asset Management Co. Cuts Stake in Casey’s General Stores, Inc. $CASY

Congress Asset Management Co. lessened its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 19.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 129,701 shares of the company’s stock after selling 32,207 shares during the period. Congress Asset Management Co. owned 0.35% of Casey’s General Stores worth $71,687,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Foster Dykema Cabot & Partners LLC purchased a new stake in Casey’s General Stores during the 3rd quarter worth approximately $25,000. Westside Investment Management Inc. lifted 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 acquiring an additional 23 shares in the last quarter. Central Pacific Bank Trust Division lifted its position in shares of Casey’s General Stores by 52.8% in the fourth quarter. Central Pacific Bank Trust Division now owns 55 shares of the company’s stock valued at $30,000 after acquiring an additional 19 shares in the last quarter. True Wealth Design LLC boosted its stake in shares of Casey’s General Stores by 350.0% in the fourth quarter. True Wealth Design LLC now owns 54 shares of the company’s stock worth $30,000 after acquiring an additional 42 shares during the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new stake in shares of Casey’s General Stores in the third quarter worth approximately $33,000. 85.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on CASY shares. KeyCorp reissued an “overweight” rating and issued a $700.00 price objective on shares of Casey’s General Stores in a research note on Thursday, February 12th. Jefferies Financial Group lifted their target price on shares of Casey’s General Stores from $700.00 to $780.00 and gave the stock a “buy” rating in a research note on Tuesday, March 10th. Wells Fargo & Company upped their target price on shares of Casey’s General Stores from $725.00 to $745.00 and gave the stock an “overweight” rating in a report on Tuesday, March 10th. Bank of America assumed coverage on shares of Casey’s General Stores in a research report on Friday, January 9th. They issued a “buy” rating for the company. Finally, Wall Street Zen downgraded shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a research note on Saturday. Eight analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Casey’s General Stores currently has a consensus rating of “Moderate Buy” and an average price target of $698.20.

Casey’s General Stores Price Performance

NASDAQ:CASY opened at $677.02 on Tuesday. Casey’s General Stores, Inc. has a one year low of $397.80 and a one year high of $696.66. The stock has a market cap of $25.02 billion, a PE ratio of 38.86, a P/E/G ratio of 2.15 and a beta of 0.65. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.64 and a current ratio of 1.04. The stock has a 50 day moving average price of $654.80 and a 200 day moving average price of $588.27.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings data on Monday, March 9th. The company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $2.94 by $0.55. The company had revenue of $3.92 billion for the quarter, compared to analyst estimates of $4.08 billion. Casey’s General Stores had a return on equity of 17.56% and a net margin of 3.83%.The firm’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.33 earnings per share. Equities research analysts expect that Casey’s General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey’s General Stores Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 1st will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, May 1st. This represents a $2.28 annualized dividend and a dividend yield of 0.3%. Casey’s General Stores’s payout ratio is presently 13.09%.

Insider Activity

In other news, Director Mike Spanos acquired 300 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average cost of $665.43 per share, for a total transaction of $199,629.00. Following the completion of the transaction, the director owned 4,499 shares in the company, valued at approximately $2,993,769.57. This trade represents a 7.14% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Katrina S. Lindsey sold 200 shares of Casey’s General Stores stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $683.04, for a total transaction of $136,608.00. Following the transaction, the insider directly owned 4,039 shares in the company, valued at $2,758,798.56. This trade represents a 4.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.54% of the company’s stock.

Casey’s General Stores Company Profile

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.