Arbor Capital Management Inc. ADV Lowers Stock Holdings in Casey's General Stores, Inc. (NASDAQ:CASY)

Arbor Capital Management Inc. ADV lowered its stake in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 21.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,096 shares of the company's stock after selling 853 shares during the quarter. Arbor Capital Management Inc. ADV's holdings in Casey's General Stores were worth $1,301,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Private Trust Co. NA lifted its holdings in Casey's General Stores by 1.3% during the third quarter. Private Trust Co. NA now owns 2,072 shares of the company's stock valued at $778,000 after purchasing an additional 27 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of Casey's General Stores by 24.2% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 149 shares of the company's stock valued at $59,000 after purchasing an additional 29 shares during the period. Harbour Investments Inc. lifted its stake in shares of Casey's General Stores by 3.1% during the 4th quarter. Harbour Investments Inc. now owns 1,002 shares of the company's stock valued at $397,000 after buying an additional 30 shares in the last quarter. Laidlaw Wealth Management LLC lifted its stake in shares of Casey's General Stores by 3.1% during the 4th quarter. Laidlaw Wealth Management LLC now owns 1,063 shares of the company's stock valued at $421,000 after buying an additional 32 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in Casey's General Stores by 3.3% in the 3rd quarter. CIBC Asset Management Inc now owns 1,078 shares of the company's stock worth $405,000 after buying an additional 34 shares during the period. Institutional investors own 85.63% of the company's stock.

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Casey's General Stores Trading Down 1.8 %

NASDAQ CASY traded down $7.39 during trading hours on Thursday, hitting $394.84. 269,497 shares of the company were exchanged, compared to its average volume of 267,677. Casey's General Stores, Inc. has a 52 week low of $306.45 and a 52 week high of $445.17. The company has a quick ratio of 0.49, a current ratio of 0.88 and a debt-to-equity ratio of 0.74. The stock has a 50-day moving average price of $409.76 and a 200 day moving average price of $400.55. The stock has a market cap of $14.66 billion, a PE ratio of 27.51, a price-to-earnings-growth ratio of 2.40 and a beta of 0.87.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its quarterly earnings results on Tuesday, March 11th. The company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.57. The company had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.74 billion. Casey's General Stores had a return on equity of 17.17% and a net margin of 3.57%. Casey's General Stores's quarterly revenue was up 17.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.33 EPS. Analysts forecast that Casey's General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey's General Stores Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date is Thursday, May 1st. Casey's General Stores's dividend payout ratio (DPR) is currently 13.94%.

Insiders Place Their Bets

In other Casey's General Stores news, Director Mike Spanos purchased 256 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average cost of $390.54 per share, with a total value of $99,978.24. Following the purchase, the director now owns 3,356 shares of the company's stock, valued at approximately $1,310,652.24. The trade was a 8.26 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.56% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Evercore ISI lowered their price objective on 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. StockNews.com downgraded Casey's General Stores from a "buy" rating to a "hold" rating in a research note on Saturday, March 8th. BMO Capital Markets restated a "market perform" rating and issued a $450.00 price target (up from $400.00) on shares of Casey's General Stores in a research note on Wednesday, December 18th. Gordon Haskett raised shares of Casey's General Stores from a "hold" rating to a "buy" rating in a report on Thursday, February 13th. Finally, Royal Bank of Canada set a $438.00 target price on shares of Casey's General Stores and gave the stock a "sector perform" rating in a report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Casey's General Stores has an average rating of "Moderate Buy" and an average price target of $423.09.

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.