Vanguard Group Inc. Cuts Holdings in Casey’s General Stores, Inc. $CASY

Vanguard Group Inc. cut its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 0.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,757,903 shares of the company’s stock after selling 27,409 shares during the period. Vanguard Group Inc. owned approximately 10.11% of Casey’s General Stores worth $2,124,418,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Westside Investment Management Inc. boosted its stake in shares of Casey’s General Stores by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 46 shares of the company’s stock worth $26,000 after acquiring an additional 23 shares during the last quarter. Nvwm LLC bought a new position in Casey’s General Stores in the 2nd quarter worth $32,000. Atlantic Union Bankshares Corp bought a new position in Casey’s General Stores in the 3rd quarter worth $33,000. Cornerstone Planning Group LLC lifted its position in Casey’s General Stores by 490.9% during the third quarter. Cornerstone Planning Group LLC now owns 65 shares of the company’s stock valued at $34,000 after purchasing an additional 54 shares in the last quarter. Finally, Rossby Financial LCC grew its stake in shares of Casey’s General Stores by 580.0% during the 2nd quarter. Rossby Financial LCC now owns 68 shares of the company’s stock valued at $35,000 after acquiring an additional 58 shares during the period. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CASY has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $530.00 target price on shares of Casey’s General Stores in a report on Wednesday, December 10th. Northcoast Research cut Casey’s General Stores from a “buy” rating to a “neutral” rating in a report on Wednesday, January 21st. UBS Group restated a “neutral” rating on shares of Casey’s General Stores in a research report on Thursday, December 11th. Finally, Zacks Research upgraded shares of Casey’s General Stores from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $615.50.

Insider Buying and Selling

In other Casey’s General Stores news, Director Moats Maria Castanon bought 300 shares of Casey’s General Stores stock in a transaction on Monday, January 5th. The shares were acquired at an average price of $554.66 per share, for a total transaction of $166,398.00. Following the completion of the purchase, the director directly owned 803 shares in the company, valued at approximately $445,391.98. This trade represents a 59.64% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.54% of the stock is owned by company insiders.

Casey’s General Stores Stock Performance

Shares of NASDAQ:CASY opened at $661.56 on Friday. The company has a current ratio of 1.05, a quick ratio of 0.65 and a debt-to-equity ratio of 0.62. 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 market capitalization of $24.52 billion, a price-to-earnings ratio of 40.77, a PEG ratio of 2.32 and a beta of 0.68. The firm’s 50-day moving average is $606.03 and its 200 day moving average is $561.48.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Tuesday, December 9th. The company reported $5.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.92 by $0.61. The business had revenue of $4.51 billion during the quarter, compared to the consensus estimate of $4.51 billion. Casey’s General Stores had a net margin of 3.58% and a return on equity of 16.89%. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the firm earned $4.85 earnings per share. Research analysts predict 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 disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Sunday, February 1st were issued a dividend of $0.57 per share. 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 presently 14.02%.

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.