Casey's General Stores, Inc. (NASDAQ:CASY) Holdings Cut by Congress Asset Management Co.

Congress Asset Management Co. cut its holdings in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 16.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 317,310 shares of the company's stock after selling 62,958 shares during the period. Congress Asset Management Co. owned about 0.85% of Casey's General Stores worth $125,728,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Soros Capital Management LLC boosted its position in shares of Casey's General Stores by 1,825.6% in the 3rd quarter. Soros Capital Management LLC now owns 27,632 shares of the company's stock worth $10,382,000 after buying an additional 26,197 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Casey's General Stores by 9.9% during the third quarter. PNC Financial Services Group Inc. now owns 14,725 shares of the company's stock worth $5,532,000 after buying an additional 1,332 shares in the last quarter. U.S. Capital Wealth Advisors LLC acquired a new position in shares of Casey's General Stores in the fourth quarter valued at approximately $369,000. Lord Abbett & CO. LLC purchased a new position in shares of Casey's General Stores during the third quarter valued at approximately $23,294,000. Finally, JPMorgan Chase & Co. boosted its position in Casey's General Stores by 18.7% during the third quarter. JPMorgan Chase & Co. now owns 758,804 shares of the company's stock worth $285,090,000 after acquiring an additional 119,350 shares during the last quarter. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Casey's General Stores Stock Up 0.1 %

NASDAQ CASY traded up $0.23 during trading hours on Wednesday, hitting $426.21. The company had a trading volume of 239,003 shares, compared to its average volume of 264,383. Casey's General Stores, Inc. has a fifty-two week low of $286.46 and a fifty-two week high of $445.17. The company has a market capitalization of $15.82 billion, a price-to-earnings ratio of 29.70, a P/E/G ratio of 2.46 and a beta of 0.83. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.88 and a quick ratio of 0.49. The firm's 50 day moving average is $410.65 and its 200 day moving average is $396.07.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its earnings results on Monday, December 9th. The company reported $4.85 earnings per share for the quarter, beating the consensus estimate of $4.29 by $0.56. The company had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $4.03 billion. Casey's General Stores had a return on equity of 17.17% and a net margin of 3.57%. The company's revenue was down 2.9% on a year-over-year basis. During the same period last year, the firm earned $4.24 earnings per share. Sell-side analysts anticipate 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 firm also recently announced a quarterly dividend, which was paid on Monday, February 17th. Stockholders of record on Monday, February 3rd were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.00 annualized dividend and a dividend yield of 0.47%. Casey's General Stores's dividend payout ratio is presently 13.94%.

Insider Transactions at Casey's General Stores

In other news, insider Katrina S. Lindsey sold 450 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $427.13, for a total transaction of $192,208.50. Following the transaction, the insider now owns 2,247 shares of the company's stock, valued at approximately $959,761.11. This trade represents a 16.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mike Spanos purchased 500 shares of Casey's General Stores stock in a transaction dated Monday, December 23rd. The shares were bought at an average cost of $396.76 per share, for a total transaction of $198,380.00. Following the transaction, the director now directly owns 3,097 shares of the company's stock, valued at approximately $1,228,765.72. The trade was a 19.25 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.56% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on CASY shares. StockNews.com raised Casey's General Stores from a "hold" rating to a "buy" rating in a research note on Tuesday. BMO Capital Markets reissued 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 research note on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft increased their price target on Casey's General Stores from $451.00 to $454.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. Gordon Haskett raised Casey's General Stores from a "hold" rating to a "buy" rating in a research note on Thursday, February 13th. Finally, Royal Bank of Canada increased their target price on Casey's General Stores from $403.00 to $428.00 and gave the stock a "sector perform" rating in a research report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $424.00.

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.