Lord Abbett & CO. LLC Cuts Position in Casey's General Stores, Inc. (NASDAQ:CASY)

Lord Abbett & CO. LLC reduced its stake in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 2.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,452 shares of the company's stock after selling 1,548 shares during the quarter. Lord Abbett & CO. LLC owned approximately 0.16% of Casey's General Stores worth $23,953,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CASY. Barclays PLC lifted its position in shares of Casey's General Stores by 110.5% during the third quarter. Barclays PLC now owns 22,487 shares of the company's stock valued at $8,450,000 after buying an additional 11,802 shares during the last quarter. Synovus Financial Corp lifted its position in Casey's General Stores by 74.4% during the third quarter. Synovus Financial Corp now owns 16,595 shares of the company's stock valued at $6,235,000 after acquiring an additional 7,078 shares during the last quarter. Franklin Resources Inc. boosted its stake in Casey's General Stores by 49.9% in 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. Oddo BHF Asset Management Sas purchased a new position in Casey's General Stores in the third quarter worth $899,000. Finally, Logan Capital Management Inc. acquired a new position in shares of Casey's General Stores during the third quarter worth $2,049,000. Institutional investors own 85.63% of the company's stock.

Analysts Set New Price Targets

CASY has been the topic of several recent analyst reports. StockNews.com lowered Casey's General Stores from a "buy" rating to a "hold" rating in a research report on Saturday, March 8th. Evercore ISI increased their price objective on shares of Casey's General Stores from $450.00 to $460.00 and gave the company an "outperform" rating in a research report on Tuesday, April 1st. Stephens raised shares of Casey's General Stores to a "strong-buy" rating in a research report on Monday, April 7th. Royal Bank of Canada set a $438.00 price target on shares of Casey's General Stores and gave the stock a "sector perform" rating in a report on Wednesday, March 12th. Finally, KeyCorp assumed coverage on shares of Casey's General Stores in a report on Friday, April 11th. They set an "overweight" rating and a $500.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $430.33.

Casey's General Stores Stock Up 0.0 %

Shares of CASY opened at $447.34 on Friday. The stock's 50-day moving average price is $423.31 and its 200-day moving average price is $413.38. 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 company has a market capitalization of $16.60 billion, a price-to-earnings ratio of 31.17, a PEG ratio of 2.40 and a beta of 0.74. Casey's General Stores, Inc. has a 52 week low of $313.67 and a 52 week high of $468.88.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its quarterly earnings data on Tuesday, March 11th. The company reported $2.33 EPS 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 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%. The business'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. On average, sell-side analysts predict that Casey's General Stores, Inc. will post 13.94 EPS for the current year.

Casey's General Stores Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be issued a $0.50 dividend. The ex-dividend date is Thursday, May 1st. This represents a $2.00 dividend on an annualized basis and a yield of 0.45%. Casey's General Stores's payout ratio is 13.94%.

Insiders Place Their Bets

In other Casey's General Stores news, Director Mike Spanos purchased 256 shares of Casey's General Stores stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average price of $390.54 per share, with a total value of $99,978.24. Following the acquisition, the director now owns 3,356 shares of the company's stock, valued at $1,310,652.24. This trade represents a 8.26 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Katrina S. Lindsey sold 250 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 2,443 shares in the company, valued at $1,067,615.43. This represents a 9.28 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.56% of the company's stock.

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.

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