Federated Hermes Inc. Sells 648 Shares of Casey's General Stores, Inc. (NASDAQ:CASY)

Federated Hermes Inc. lowered its stake in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 15.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,547 shares of the company's stock after selling 648 shares during the quarter. Federated Hermes Inc.'s holdings in Casey's General Stores were worth $1,405,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CASY. Vanguard Group Inc. boosted its stake in shares of Casey's General Stores by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 3,799,104 shares of the company's stock valued at $1,505,319,000 after purchasing an additional 44,295 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Casey's General Stores by 18.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 758,804 shares of the company's stock worth $285,090,000 after buying an additional 119,350 shares during the period. Franklin Resources Inc. grew its holdings in Casey's General Stores by 29.5% during the 4th quarter. Franklin Resources Inc. now owns 678,778 shares of the company's stock worth $268,952,000 after acquiring an additional 154,541 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Casey's General Stores in the 4th quarter valued at approximately $236,500,000. Finally, Norges Bank acquired a new position in Casey's General Stores in the 4th quarter valued at approximately $175,607,000. Institutional investors own 85.63% of the company's stock.

Wall Street Analyst Weigh In

CASY has been the topic of a number of analyst reports. Gordon Haskett raised shares of Casey's General Stores from a "hold" rating to a "buy" rating in a research note on Thursday, February 13th. Stephens raised shares of Casey's General Stores to a "strong-buy" rating in a research report on Monday, April 7th. StockNews.com lowered Casey's General Stores from a "buy" rating to a "hold" rating in a research report on Saturday, March 8th. KeyCorp started coverage on Casey's General Stores in a research report on Friday, April 11th. They set an "overweight" rating and a $500.00 target price on the stock. Finally, Royal Bank of Canada set a $438.00 price target on Casey's General Stores and gave the stock a "sector perform" rating in a report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $430.33.

Insiders Place Their Bets

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 value of $109,252.50. Following the completion of the transaction, the insider now directly owns 2,443 shares of the company's stock, valued at $1,067,615.43. This trade represents a 9.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mike Spanos acquired 256 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average price of $390.54 per share, for a total transaction of $99,978.24. Following the completion of the purchase, the director now owns 3,356 shares in the company, valued at $1,310,652.24. This trade represents a 8.26 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.56% of the company's stock.

Casey's General Stores Stock Up 0.6 %

NASDAQ:CASY traded up $2.74 on Friday, hitting $460.07. The stock had a trading volume of 365,373 shares, compared to its average volume of 284,097. Casey's General Stores, Inc. has a 1 year low of $307.01 and a 1 year high of $468.88. The firm's fifty day simple moving average is $421.46 and its two-hundred day simple moving average is $410.47. The stock has a market cap of $17.08 billion, a P/E ratio of 32.06, a price-to-earnings-growth ratio of 2.40 and a beta of 0.74. 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 posted its quarterly earnings data on Tuesday, March 11th. The company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.57. The business had revenue of $3.90 billion for the quarter, compared to analysts' expectations of $3.74 billion. Casey's General Stores had a return on equity of 17.17% and a net margin of 3.57%. The business's revenue was up 17.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.33 earnings per share. Analysts predict that Casey's General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey's General Stores Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend is Thursday, May 1st. Casey's General Stores's dividend payout ratio is currently 13.94%.

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.