Cerity Partners LLC Reduces Stock Position in Casey's General Stores, Inc. (NASDAQ:CASY)

Cerity Partners LLC lowered its holdings in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 3.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 61,951 shares of the company's stock after selling 2,055 shares during the period. Cerity Partners LLC owned approximately 0.17% of Casey's General Stores worth $24,361,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in shares of Casey's General Stores during the 4th quarter worth about $236,500,000. Norges Bank bought a new position in Casey's General Stores in the fourth quarter worth approximately $175,607,000. Wellington Management Group LLP grew its stake in Casey's General Stores by 160.1% in the fourth quarter. Wellington Management Group LLP now owns 428,201 shares of the company's stock valued at $169,666,000 after acquiring an additional 263,545 shares during the period. Franklin Resources Inc. increased its holdings in shares of Casey's General Stores by 49.9% during the third 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 in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of 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 purchasing an additional 119,350 shares during the period. 85.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on CASY. KeyCorp assumed coverage on shares of Casey's General Stores in a research note on Friday. They set an "overweight" rating and a $500.00 price target for the company. BMO Capital Markets reaffirmed a "market perform" rating and issued a $450.00 price target (up previously from $400.00) on shares of Casey's General Stores in a research report 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. Evercore ISI upped their target price on Casey's General Stores from $450.00 to $460.00 and gave the company an "outperform" rating in a report on Tuesday, April 1st. Finally, 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Casey's General Stores currently has a consensus rating of "Moderate Buy" and a consensus price target of $430.33.

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Insider Activity

In other news, insider Katrina S. Lindsey sold 250 shares of the firm's stock in a transaction on Friday, April 4th. The stock was sold at an average price of $437.01, for a total transaction of $109,252.50. Following the completion of the transaction, the insider now directly owns 2,443 shares in the company, valued at $1,067,615.43. This trade represents a 9.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mike Spanos bought 256 shares of the company's stock in a transaction dated Thursday, March 13th. The stock was purchased at an average price of $390.54 per share, for a total transaction 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. This represents a 8.26 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.56% of the company's stock.

Casey's General Stores Price Performance

Casey's General Stores stock traded down $5.12 during mid-day trading on Monday, hitting $452.13. 102,994 shares of the company traded hands, compared to its average volume of 282,989. The stock has a fifty day moving average price of $418.43 and a 200-day moving average price of $407.99. The stock has a market cap of $16.78 billion, a price-to-earnings ratio of 31.51, a price-to-earnings-growth ratio of 2.40 and a beta of 0.74. Casey's General Stores, Inc. has a one year low of $306.69 and a one year high of $470.00. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.49 and a current ratio of 0.88.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its quarterly earnings data on Tuesday, March 11th. The company reported $2.33 EPS for the quarter, beating the consensus estimate of $1.76 by $0.57. Casey's General Stores had a return on equity of 17.17% and a net margin of 3.57%. The firm had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.74 billion. During the same period in the prior year, the company earned $2.33 EPS. The company's revenue was up 17.2% on a year-over-year basis. On average, equities analysts predict 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 announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Thursday, May 1st. Casey's General Stores's dividend payout ratio is 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.