Pinebridge Investments L.P. Acquires 4,216 Shares of Casey's General Stores, Inc. (NASDAQ:CASY)

Pinebridge Investments L.P. increased its holdings in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 42.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,092 shares of the company's stock after buying an additional 4,216 shares during the quarter. Pinebridge Investments L.P.'s holdings in Casey's General Stores were worth $5,584,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Natixis lifted its position in shares of Casey's General Stores by 21.9% in the fourth quarter. Natixis now owns 8,337 shares of the company's stock worth $3,303,000 after buying an additional 1,499 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in shares of Casey's General Stores by 55.6% during the fourth quarter. Sanctuary Advisors LLC now owns 8,579 shares of the company's stock worth $3,629,000 after buying an additional 3,065 shares during the period. Scholtz & Company LLC acquired a new position in shares of Casey's General Stores in the fourth quarter valued at about $2,375,000. JLB & Associates Inc. lifted its stake in Casey's General Stores by 1.8% during the 4th quarter. JLB & Associates Inc. now owns 43,029 shares of the company's stock valued at $17,049,000 after acquiring an additional 749 shares during the period. Finally, Segall Bryant & Hamill LLC grew its position in Casey's General Stores by 9.1% during the 4th quarter. Segall Bryant & Hamill LLC now owns 53,330 shares of the company's stock worth $21,131,000 after purchasing an additional 4,458 shares during the period. Institutional investors own 85.63% of the company's stock.

Insider Activity at Casey's General Stores

In other news, Director Mike Spanos bought 256 shares of the stock in a transaction dated 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 approximately $1,310,652.24. This trade represents a 8.26 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Katrina S. Lindsey sold 250 shares of the business's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $437.01, for a total transaction of $109,252.50. Following the completion of the sale, the insider now directly owns 2,443 shares of the company's stock, valued at $1,067,615.43. This represents a 9.28 % decrease in their position. The disclosure for this sale can be found here. 0.56% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CASY. Evercore ISI lifted their price target on Casey's General Stores from $450.00 to $460.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 1st. Gordon Haskett raised Casey's General Stores from a "hold" rating to a "buy" rating in a research report on Thursday, February 13th. Stephens raised shares of Casey's General Stores to a "strong-buy" rating in a report on Monday, April 7th. KeyCorp began coverage on shares of Casey's General Stores in a research report on Friday, April 11th. They issued an "overweight" rating and a $500.00 price objective on the stock. Finally, Royal Bank of Canada set a $438.00 price objective 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 company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $430.33.

Casey's General Stores Stock Performance

NASDAQ:CASY traded up $6.89 during trading hours on Monday, hitting $454.23. 291,143 shares of the company traded hands, compared to its average volume of 286,393. The firm has a 50-day moving average of $423.31 and a 200 day moving average of $413.61. The company has a current ratio of 0.88, a quick ratio of 0.49 and a debt-to-equity ratio of 0.74. Casey's General Stores, Inc. has a twelve month low of $313.67 and a twelve month high of $468.88. The stock has a market capitalization of $16.86 billion, a price-to-earnings ratio of 31.65, a P/E/G ratio of 2.40 and a beta of 0.74.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its quarterly earnings data on Tuesday, March 11th. The company reported $2.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $3.90 billion during the quarter, compared to analysts' expectations of $3.74 billion. During the same period last year, the business earned $2.33 earnings per share. The business's revenue was up 17.2% on a year-over-year basis. On average, analysts forecast that Casey's General Stores, Inc. will post 13.94 EPS for the current year.

Casey's General Stores Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date is Thursday, May 1st. Casey's General Stores's dividend payout ratio is currently 13.94%.

Casey's General Stores 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.