Casey’s General Stores, Inc. (NASDAQ:CASY) Holdings Lowered by Wealth Advisors of Iowa LLC

Wealth Advisors of Iowa LLC trimmed its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 1.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,998 shares of the company’s stock after selling 38 shares during the quarter. Casey’s General Stores comprises 0.4% of Wealth Advisors of Iowa LLC’s holdings, making the stock its 28th biggest position. Wealth Advisors of Iowa LLC’s holdings in Casey’s General Stores were worth $792,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. FMR LLC grew its stake in shares of Casey’s General Stores by 3.8% in the 3rd quarter. FMR LLC now owns 1,046,830 shares of the company’s stock worth $393,305,000 after purchasing an additional 38,226 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Casey’s General Stores by 18.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 758,804 shares of the company’s stock worth $285,090,000 after purchasing an additional 119,350 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Casey’s General Stores by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 655,488 shares of the company’s stock worth $246,335,000 after purchasing an additional 8,428 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Casey’s General Stores in the 4th quarter worth approximately $236,500,000. Finally, Franklin Resources Inc. grew its stake in shares of Casey’s General Stores by 49.9% in the 3rd quarter. Franklin Resources Inc. now owns 524,237 shares of the company’s stock worth $204,861,000 after purchasing an additional 174,586 shares during the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on CASY. Gordon Haskett raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. BMO Capital Markets reaffirmed a “market perform” rating and set a $450.00 price objective (up from $400.00) on shares of Casey’s General Stores in a research report on Wednesday, December 18th. Royal Bank of Canada set a $438.00 price objective on shares of Casey’s General Stores and gave the company a “sector perform” rating in a research report on Wednesday, March 12th. StockNews.com downgraded shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Finally, Evercore ISI lowered their price objective on shares of Casey’s General Stores from $460.00 to $450.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $423.09.

Casey’s General Stores Price Performance

Shares of Casey’s General Stores stock opened at $394.84 on Friday. The firm has a fifty day simple moving average of $409.84 and a 200-day simple moving average of $400.51. The company has a current ratio of 0.88, a quick ratio of 0.49 and a debt-to-equity ratio of 0.74. Casey’s General Stores, Inc. has a 1-year low of $306.45 and a 1-year high of $445.17. The stock has a market capitalization of $14.66 billion, a price-to-earnings ratio of 27.51, a PEG ratio of 2.40 and a beta of 0.87.

Casey’s General Stores (NASDAQ:CASY) last released its earnings results on Tuesday, March 11th. The company reported $2.33 EPS for the quarter, beating the consensus estimate of $1.76 by $0.57. The firm had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.74 billion. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. The business’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.33 EPS. On average, 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.51%. The ex-dividend date is Thursday, May 1st. Casey’s General Stores’s payout ratio is currently 13.94%.

Insider Buying and Selling at Casey’s General Stores

In other Casey’s General Stores news, Director Mike Spanos purchased 256 shares of the stock in a transaction on Thursday, March 13th. The shares were purchased at an average price of $390.54 per share, with a total value of $99,978.24. Following the acquisition, the director now directly owns 3,356 shares of the company’s stock, valued at $1,310,652.24. This represents a 8.26 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.56% of the company’s stock.

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.