Clearbridge Investments LLC Sells 107,364 Shares of Casey's General Stores, Inc. (NASDAQ:CASY)

Clearbridge Investments LLC trimmed its holdings in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 11.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 838,022 shares of the company's stock after selling 107,364 shares during the period. Clearbridge Investments LLC owned 2.26% of Casey's General Stores worth $332,049,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Raymond James Financial Inc. acquired a new position in Casey's General Stores during the fourth quarter worth $236,500,000. Norges Bank bought a new stake in shares of Casey's General Stores during the 4th quarter worth about $175,607,000. Franklin Resources Inc. increased its holdings in shares of Casey's General Stores by 49.9% during the 3rd quarter. Franklin Resources Inc. now owns 524,237 shares of the company's stock valued at $204,861,000 after acquiring an additional 174,586 shares during the last quarter. Benjamin Edwards Inc. raised its stake in shares of Casey's General Stores by 1,819.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 130,291 shares of the company's stock valued at $48,959,000 after acquiring an additional 123,502 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Casey's General Stores by 281.4% in the 3rd quarter. Wellington Management Group LLP now owns 164,656 shares of the company's stock valued at $61,863,000 after acquiring an additional 121,488 shares in the last quarter. Institutional investors and hedge funds own 85.63% of the company's stock.

Analyst Ratings Changes

CASY has been the topic of several analyst reports. BMO Capital Markets reiterated a "market perform" rating and set a $450.00 price target (up previously from $400.00) on shares of Casey's General Stores in a report on Wednesday, December 18th. Gordon Haskett upgraded shares of Casey's General Stores from a "hold" rating to a "buy" rating in a research note on Thursday, February 13th. StockNews.com lowered shares of Casey's General Stores from a "buy" rating to a "hold" rating in a research report on Saturday, March 8th. Royal Bank of Canada set a $438.00 price target on Casey's General Stores and gave the company a "sector perform" rating in a research report on Wednesday, March 12th. Finally, Evercore ISI lifted their price objective on Casey's General Stores from $450.00 to $460.00 and gave the stock an "outperform" rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $424.00.

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Insider Buying and Selling at Casey's General Stores

In related news, Director Mike Spanos acquired 256 shares of the business's stock in a transaction on Thursday, March 13th. The stock was bought at an average cost of $390.54 per share, with a total value of $99,978.24. Following the completion of the acquisition, the director now owns 3,356 shares in the company, valued at $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 SEC, which is available through this hyperlink. Company insiders own 0.56% of the company's stock.

Casey's General Stores Stock Performance

Shares of CASY stock traded up $9.57 during mid-day trading on Thursday, reaching $453.45. The stock had a trading volume of 318,689 shares, compared to its average volume of 275,971. The firm has a market cap of $16.83 billion, a PE ratio of 31.60, a P/E/G ratio of 2.40 and a beta of 0.87. The company has a quick ratio of 0.49, a current ratio of 0.88 and a debt-to-equity ratio of 0.74. Casey's General Stores, Inc. has a one year low of $306.45 and a one year high of $460.16. The firm's 50 day simple moving average is $415.81 and its 200 day simple moving average is $404.26.

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

Casey's General Stores Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 0.44%. The ex-dividend date is Thursday, May 1st. Casey's General Stores's dividend payout ratio (DPR) is presently 13.94%.

Casey's General Stores Company Profile

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.