T. Rowe Price Investment Management Inc. Lowers Stake in Casey’s General Stores, Inc. $CASY

T. Rowe Price Investment Management Inc. cut its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 22.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 731,308 shares of the company’s stock after selling 212,338 shares during the period. T. Rowe Price Investment Management Inc.’s holdings in Casey’s General Stores were worth $404,202,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CASY. Foster Dykema Cabot & Partners LLC acquired a new position in shares of Casey’s General Stores during the 3rd quarter worth approximately $25,000. Central Pacific Bank Trust Division increased its stake in shares of Casey’s General Stores by 52.8% during the fourth quarter. Central Pacific Bank Trust Division now owns 55 shares of the company’s stock worth $30,000 after purchasing an additional 19 shares in the last quarter. True Wealth Design LLC raised its position in shares of Casey’s General Stores by 350.0% during the 4th quarter. True Wealth Design LLC now owns 54 shares of the company’s stock worth $30,000 after purchasing an additional 42 shares during the last quarter. ORG Partners LLC raised its position in shares of Casey’s General Stores by 47.6% during the 4th quarter. ORG Partners LLC now owns 62 shares of the company’s stock worth $34,000 after purchasing an additional 20 shares during the last quarter. Finally, Vermillion & White Wealth Management Group LLC purchased a new position in Casey’s General Stores in the 3rd quarter valued at about $35,000. Institutional investors and hedge funds own 85.63% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. William Blair assumed coverage on Casey’s General Stores in a report on Wednesday, May 20th. They issued an “outperform” rating on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $1,000.00 price target on shares of Casey’s General Stores in a research report on Monday. Wall Street Zen raised Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. 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. Finally, UBS Group raised their price objective on Casey’s General Stores from $805.00 to $945.00 and gave the stock a “neutral” rating in a research report on Thursday, June 11th. Eleven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $925.25.

Casey’s General Stores Stock Down 1.0%

CASY stock opened at $842.25 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 1.01. Casey’s General Stores, Inc. has a fifty-two week low of $490.00 and a fifty-two week high of $927.85. The firm has a market capitalization of $31.13 billion, a price-to-earnings ratio of 43.96, a PEG ratio of 2.58 and a beta of 0.61. The company’s 50 day moving average price is $810.32 and its 200 day moving average price is $694.92.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, topping the consensus estimate of $3.31 by $1.06. The firm had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.33 billion. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.The firm’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.63 earnings per share. On average, equities research analysts anticipate that Casey’s General Stores, Inc. will post 20.9 EPS for the current fiscal year.

Casey’s General Stores Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Saturday, August 1st will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Friday, July 31st. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.57. Casey’s General Stores’s payout ratio is 11.90%.

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.