Prudential Financial Inc. Reduces Stock Position in Casey's General Stores, Inc. (NASDAQ:CASY)

Prudential Financial Inc. decreased its holdings in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 19.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,895 shares of the company's stock after selling 703 shares during the quarter. Prudential Financial Inc.'s holdings in Casey's General Stores were worth $1,147,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. HighTower Advisors LLC increased its stake in Casey's General Stores by 0.4% in the third quarter. HighTower Advisors LLC now owns 13,645 shares of the company's stock worth $5,156,000 after purchasing an additional 49 shares during the period. Integrated Wealth Concepts LLC increased its stake in Casey's General Stores by 109.7% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 1,726 shares of the company's stock worth $649,000 after buying an additional 903 shares during the period. Quantinno Capital Management LP lifted its holdings in Casey's General Stores by 14.6% during the 3rd quarter. Quantinno Capital Management LP now owns 8,696 shares of the company's stock valued at $3,267,000 after buying an additional 1,111 shares in the last quarter. Stifel Financial Corp boosted its position in Casey's General Stores by 4.2% in the 3rd quarter. Stifel Financial Corp now owns 68,287 shares of the company's stock valued at $25,672,000 after buying an additional 2,722 shares during the period. Finally, Wellington Management Group LLP grew its stake in Casey's General Stores by 281.4% in the 3rd quarter. Wellington Management Group LLP now owns 164,656 shares of the company's stock worth $61,863,000 after acquiring an additional 121,488 shares in the last quarter. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Katrina S. Lindsey sold 250 shares of the stock in a transaction that occurred on Friday, April 4th. The shares were 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mike Spanos bought 256 shares of the company's stock in a transaction on Thursday, March 13th. The shares were bought at an average cost of $390.54 per share, for a total transaction of $99,978.24. Following the transaction, the director now owns 3,356 shares in the company, valued at $1,310,652.24. The trade was a 8.26 % increase in their position. The disclosure for this purchase can be found here. 0.56% of the stock is owned by company insiders.

Casey's General Stores Stock Up 4.4 %

Shares of NASDAQ:CASY traded up $19.24 during trading on Friday, reaching $457.25. The stock had a trading volume of 520,287 shares, compared to its average volume of 283,487. The firm's 50-day simple moving average is $418.43 and its 200 day simple moving average is $407.75. 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 one year low of $306.60 and a one year high of $460.00. The company has a market capitalization of $16.97 billion, a P/E ratio of 31.86, a PEG ratio of 2.40 and a beta of 0.74.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its earnings results on Tuesday, March 11th. The company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.57. The company had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $3.74 billion. Casey's General Stores had a net margin of 3.57% and a return on equity of 17.17%. Casey's General Stores's revenue was up 17.2% compared to the same quarter last year. During the same period last year, the firm earned $2.33 earnings per share. As a group, research analysts expect that Casey's General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey's General Stores Dividend Announcement

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

Analyst Ratings Changes

CASY has been the subject of several research analyst reports. BMO Capital Markets reaffirmed 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. Evercore ISI lifted their target price on 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 Casey's General Stores to a "strong-buy" rating in a research report on Monday. Gordon Haskett upgraded Casey's General Stores from a "hold" rating to a "buy" rating in a report on Thursday, February 13th. Finally, StockNews.com lowered shares of Casey's General Stores from a "buy" rating to a "hold" rating in a research note on Saturday, March 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $430.33.

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.