Casey's General Stores, Inc. (NASDAQ:CASY) Shares Sold by Treasurer of the State of North Carolina

Treasurer of the State of North Carolina decreased its position in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 32.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,276 shares of the company's stock after selling 7,661 shares during the quarter. Treasurer of the State of North Carolina's holdings in Casey's General Stores were worth $6,449,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in shares of Casey's General Stores in the 4th quarter valued at approximately $236,500,000. Norges Bank purchased a new stake in shares of Casey's General Stores in the 4th quarter worth $175,607,000. Wellington Management Group LLP raised its stake in shares of 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 worth $169,666,000 after buying an additional 263,545 shares during the period. Franklin Resources Inc. lifted its holdings in 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 purchasing an additional 174,586 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Casey's General Stores by 18.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 758,804 shares of the company's stock valued at $285,090,000 after buying an additional 119,350 shares in the last quarter. 85.63% of the stock is owned by institutional investors.

Casey's General Stores Trading Up 0.6 %

Shares of NASDAQ CASY traded up $2.74 during trading hours on Friday, reaching $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 52-week low of $307.01 and a 52-week high of $468.88. The firm has a market cap of $17.08 billion, a price-to-earnings ratio of 32.06, a P/E/G ratio of 2.40 and a beta of 0.74. The business's fifty day moving average price is $421.46 and its two-hundred day moving average price is $410.47. 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 (NASDAQ:CASY - Get Free Report) last announced its quarterly earnings results 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 quarter last year, the firm posted $2.33 earnings per share. The business's revenue for the quarter was up 17.2% on a year-over-year basis. 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 declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Thursday, May 1st. Casey's General Stores's dividend payout ratio (DPR) is presently 13.94%.

Insider Transactions at Casey's General Stores

In other news, insider Katrina S. Lindsey sold 250 shares of the firm's stock in a transaction dated 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 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 document filed with the SEC, which is available through the SEC website. Also, Director Mike Spanos purchased 256 shares of Casey's General Stores stock in a transaction on Thursday, March 13th. The shares were acquired at an average cost of $390.54 per share, with a total value of $99,978.24. Following the completion of the transaction, the director now directly 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. Insiders own 0.56% of the company's stock.

Analyst Upgrades and Downgrades

CASY has been the topic of a number of research analyst reports. Stephens raised Casey's General Stores to a "strong-buy" rating in a 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 company a "sector perform" rating in a research note on Wednesday, March 12th. 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 report on Tuesday, April 1st. StockNews.com lowered Casey's General Stores from a "buy" rating to a "hold" rating in a research note on Saturday, March 8th. Finally, Gordon Haskett raised Casey's General Stores from a "hold" rating to a "buy" rating in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target 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.