WealthPLAN Partners LLC Lowers Stake in Casey’s General Stores, Inc. (NASDAQ:CASY)

WealthPLAN Partners LLC reduced its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 2.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,950 shares of the company’s stock after selling 439 shares during the quarter. WealthPLAN Partners LLC’s holdings in Casey’s General Stores were worth $5,924,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CASY. International Assets Investment Management LLC purchased a new stake in Casey’s General Stores in the third quarter worth about $959,880,000. Franklin Resources Inc. lifted its position in shares of Casey’s General Stores by 49.9% during the third quarter. Franklin Resources Inc. now owns 524,237 shares of the company’s stock valued at $204,861,000 after buying an additional 174,586 shares during the last quarter. Benjamin Edwards Inc. lifted its position in shares of Casey’s General Stores by 1,819.1% during the third quarter. Benjamin Edwards Inc. now owns 130,291 shares of the company’s stock valued at $48,959,000 after buying an additional 123,502 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Casey’s General Stores by 281.4% during the third quarter. Wellington Management Group LLP now owns 164,656 shares of the company’s stock valued at $61,863,000 after buying an additional 121,488 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Casey’s General Stores by 18.7% during the third quarter. JPMorgan Chase & Co. now owns 758,804 shares of the company’s stock valued at $285,090,000 after buying an additional 119,350 shares during the last quarter. 85.63% of the stock is owned by hedge funds and other institutional investors.

Casey’s General Stores Price Performance

Shares of NASDAQ:CASY opened at $432.17 on Friday. Casey’s General Stores, Inc. has a twelve month low of $284.57 and a twelve month high of $445.17. The company’s 50 day moving average is $410.19 and its 200 day moving average is $395.24. The company has a current ratio of 0.88, a quick ratio of 0.49 and a debt-to-equity ratio of 0.74. The company has a market cap of $16.04 billion, a PE ratio of 30.12, a price-to-earnings-growth ratio of 2.48 and a beta of 0.83.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Monday, December 9th. The company reported $4.85 earnings per share for the quarter, topping the consensus estimate of $4.29 by $0.56. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. The company had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter in the prior year, the company earned $4.24 EPS. Casey’s General Stores’s quarterly revenue was down 2.9% on a year-over-year basis. On average, sell-side analysts forecast that Casey’s General Stores, Inc. will post 13.94 EPS for the current year.

Casey’s General Stores Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 17th. Investors of record on Monday, February 3rd will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.00 annualized dividend and a yield of 0.46%. Casey’s General Stores’s dividend payout ratio (DPR) is presently 13.94%.

Insider Buying and Selling

In related news, Director Mike Spanos acquired 500 shares of the stock in a transaction on Monday, December 23rd. The shares were acquired at an average price of $396.76 per share, for a total transaction of $198,380.00. Following the transaction, the director now owns 3,097 shares in the company, valued at approximately $1,228,765.72. This trade represents a 19.25 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Katrina S. Lindsey sold 450 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $427.13, for a total value of $192,208.50. Following the completion of the sale, the insider now owns 2,247 shares in the company, valued at approximately $959,761.11. This represents a 16.69 % 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

CASY has been the subject of several analyst reports. Royal Bank of Canada increased their price target on shares of Casey’s General Stores from $403.00 to $428.00 and gave the company a “sector perform” rating in a research report on Tuesday, December 10th. Evercore ISI increased their price target on shares of Casey’s General Stores from $460.00 to $470.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. StockNews.com lowered shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. BMO Capital Markets reissued a “market perform” rating and set a $450.00 price target (up from $400.00) on shares of Casey’s General Stores in a research report on Wednesday, December 18th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Casey’s General Stores from $451.00 to $454.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Casey’s General Stores currently has a consensus rating of “Moderate Buy” and a consensus target price of $424.00.

About Casey’s General Stores

Casey’s General Stores, Inc engages in the provision of 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.