Casey’s General Stores, Inc. $CASY Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. lessened its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 18.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 93,641 shares of the company’s stock after selling 21,176 shares during the period. Congress Asset Management Co. owned approximately 0.25% of Casey’s General Stores worth $56,977,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CASY. BlackRock Inc. acquired a new stake in shares of Casey’s General Stores during the second quarter worth $2,759,895,000. Franklin Resources Inc. increased its position in shares of Casey’s General Stores by 40.9% in the 4th quarter. Franklin Resources Inc. now owns 1,068,682 shares of the company’s stock valued at $590,671,000 after acquiring an additional 310,470 shares during the period. Capital World Investors increased its position in shares of Casey’s General Stores by 1.6% in the 4th quarter. Capital World Investors now owns 425,432 shares of the company’s stock valued at $235,141,000 after acquiring an additional 6,562 shares during the period. Bank of America Corp DE purchased a new position in Casey’s General Stores in the 2nd quarter worth $281,872,000. Finally, Bank of New York Mellon Corp purchased a new position in Casey’s General Stores in the 2nd quarter worth $281,011,000. Institutional investors and hedge funds own 85.63% of the company’s stock.

Casey’s General Stores Stock Performance

NASDAQ:CASY traded up $3.47 during mid-day trading on Tuesday, hitting $620.80. The company’s stock had a trading volume of 643,629 shares, compared to its average volume of 527,605. Casey’s General Stores, Inc. has a 1 year low of $497.38 and a 1 year high of $927.85. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 0.61. The stock has a market cap of $22.94 billion, a price-to-earnings ratio of 29.90, a PEG ratio of 2.01 and a beta of 0.59. The business’s fifty day moving average is $738.65 and its two-hundred day moving average is $777.37.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings data on Tuesday, September 8th. The company reported $7.37 earnings per share for the quarter, beating analysts’ consensus estimates of $6.78 by $0.59. The business had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.56 billion. Casey’s General Stores had a return on equity of 19.68% and a net margin of 4.14%.The company’s revenue was up 24.3% on a year-over-year basis. During the same quarter last year, the business posted $5.77 EPS. Analysts anticipate that Casey’s General Stores, Inc. will post 21.43 EPS for the current fiscal year.

Casey’s General Stores Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Sunday, November 1st will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.4%. The ex-dividend date is Friday, October 30th. Casey’s General Stores’s dividend payout ratio (DPR) is currently 12.52%.

Insider Buying and Selling

In other Casey’s General Stores news, CFO P Jr sold 5,700 shares of the business’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $838.16, for a total value of $4,777,512.00. Following the completion of the transaction, the chief financial officer directly owned 29,677 shares of the company’s stock, valued at approximately $24,874,074.32. The trade was a 16.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Allison Wing sold 530 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $837.58, for a total transaction of $443,917.40. Following the sale, the director directly owned 3,042 shares in the company, valued at $2,547,918.36. The trade was a 14.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.67% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on CASY. Wells Fargo & Company dropped their price target on Casey’s General Stores from $960.00 to $750.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 9th. Capital One Financial assumed coverage on Casey’s General Stores in a research note on Monday, June 22nd. They issued an “equal weight” rating and a $896.00 price objective for the company. Northcoast Research raised Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $950.00 target price for the company in a report on Monday, July 13th. Wall Street Zen lowered Casey’s General Stores from a “buy” rating to a “hold” rating in a research report on Saturday, September 12th. Finally, Stephens set a $750.00 price target on shares of Casey’s General Stores in a report on Thursday, September 10th. Fifteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $840.69.

Casey’s General Stores 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.