Casey's General Stores, Inc. (NASDAQ:CASY) Shares Sold by Vestcor Inc

Vestcor Inc cut its holdings in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 53.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,497 shares of the company's stock after selling 1,720 shares during the quarter. Vestcor Inc's holdings in Casey's General Stores were worth $593,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CASY. Swiss National Bank raised its holdings in Casey's General Stores by 0.7% in the fourth quarter. Swiss National Bank now owns 72,987 shares of the company's stock worth $28,920,000 after purchasing an additional 500 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in Casey's General Stores by 9.3% in the fourth quarter. Sequoia Financial Advisors LLC now owns 2,951 shares of the company's stock worth $1,169,000 after purchasing an additional 252 shares in the last quarter. Moors & Cabot Inc. raised its holdings in Casey's General Stores by 1.0% in the fourth quarter. Moors & Cabot Inc. now owns 10,389 shares of the company's stock worth $4,116,000 after purchasing an additional 107 shares in the last quarter. Avantax Planning Partners Inc. raised its holdings in Casey's General Stores by 3.5% in the fourth quarter. Avantax Planning Partners Inc. now owns 3,847 shares of the company's stock worth $1,524,000 after purchasing an additional 130 shares in the last quarter. Finally, Moran Wealth Management LLC raised its holdings in Casey's General Stores by 3.8% in the fourth quarter. Moran Wealth Management LLC now owns 10,567 shares of the company's stock worth $4,187,000 after purchasing an additional 389 shares in the last quarter. 85.63% of the stock is owned by hedge funds and other institutional investors.

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Casey's General Stores Price Performance

CASY stock traded down $7.39 during midday trading on Thursday, reaching $394.84. The stock had a trading volume of 269,488 shares, compared to its average volume of 267,677. The company's fifty day simple moving average is $409.76 and its 200 day simple moving average is $400.55. The company has a current ratio of 0.88, a quick ratio of 0.49 and a debt-to-equity ratio of 0.74. The company has a market cap of $14.66 billion, a price-to-earnings ratio of 27.51, a price-to-earnings-growth ratio of 2.40 and a beta of 0.87. Casey's General Stores, Inc. has a 52-week low of $306.45 and a 52-week high of $445.17.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its quarterly earnings data on Tuesday, March 11th. The company reported $2.33 earnings per share 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 for the quarter, compared to analyst estimates of $3.74 billion. During the same quarter last year, the firm posted $2.33 EPS. The firm's revenue for the quarter was up 17.2% on a year-over-year basis. As a group, sell-side analysts predict that Casey's General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey's General Stores Dividend Announcement

The business also recently announced 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 dividend yield of 0.51%. The ex-dividend date is Thursday, May 1st. Casey's General Stores's dividend payout ratio (DPR) is presently 13.94%.

Analyst Upgrades and Downgrades

CASY has been the subject of a number of recent research reports. BMO Capital Markets reiterated a "market perform" rating and issued a $450.00 target price (up from $400.00) on shares of Casey's General Stores in a report on Wednesday, December 18th. Gordon Haskett upgraded shares of Casey's General Stores from a "hold" rating to a "buy" rating in a report on Thursday, February 13th. Royal Bank of Canada set a $438.00 price objective on shares of Casey's General Stores and gave the company a "sector perform" rating in a report on Wednesday, March 12th. StockNews.com downgraded shares of Casey's General Stores from a "buy" rating to a "hold" rating in a report on Saturday, March 8th. Finally, Evercore ISI cut their price objective on shares of Casey's General Stores from $460.00 to $450.00 and set an "outperform" rating on the stock in a report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $423.09.

Insiders Place Their Bets

In related news, Director Mike Spanos bought 500 shares of the business's stock in a transaction on Monday, December 23rd. The stock was acquired at an average cost of $396.76 per share, with a total value of $198,380.00. Following the purchase, the director now directly owns 3,097 shares of the company's stock, valued at $1,228,765.72. The trade was a 19.25 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate 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.