Trueblood Wealth Management LLC Invests $306,000 in Casey’s General Stores, Inc. (NASDAQ:CASY)

Trueblood Wealth Management LLC purchased a new stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 1,113 shares of the company’s stock, valued at approximately $306,000.

A number of other institutional investors have also recently added to or reduced their stakes in CASY. Morgan Stanley grew its holdings in Casey’s General Stores by 430.5% in the 4th quarter. Morgan Stanley now owns 1,141,475 shares of the company’s stock worth $256,090,000 after buying an additional 926,324 shares in the last quarter. National Bank of Canada FI lifted its stake in shares of Casey’s General Stores by 1,277.4% in the 3rd quarter. National Bank of Canada FI now owns 454,284 shares of the company’s stock worth $122,067,000 after acquiring an additional 421,302 shares during the period. Norges Bank bought a new position in Casey’s General Stores during the fourth quarter valued at about $82,961,000. Virginia Retirement Systems ET AL acquired a new stake in Casey’s General Stores during the second quarter valued at approximately $56,800,000. Finally, Goldman Sachs Group Inc. raised its position in shares of Casey’s General Stores by 152.8% in the first quarter. Goldman Sachs Group Inc. now owns 384,281 shares of the company’s stock valued at $76,153,000 after purchasing an additional 232,277 shares during the period. Institutional investors and hedge funds own 85.63% of the company’s stock.

Insider Buying and Selling

In related news, Director Mike Spanos bought 725 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The stock was purchased at an average price of $275.43 per share, with a total value of $199,686.75. Following the completion of the acquisition, the director now owns 1,791 shares of the company’s stock, valued at $493,295.13. The purchase was disclosed in a document filed with the SEC, which is available through this link. 0.47% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on CASY shares. BMO Capital Markets boosted their price target on Casey’s General Stores from $290.00 to $305.00 and gave the company a “market perform” rating in a research note on Wednesday, March 13th. Benchmark reissued a “buy” rating and set a $312.00 price objective on shares of Casey’s General Stores in a report on Wednesday, March 6th. Evercore ISI raised their price target on shares of Casey’s General Stores from $345.00 to $355.00 and gave the company an “outperform” rating in a report on Tuesday. StockNews.com downgraded Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 21st. Finally, Wells Fargo & Company boosted their target price on Casey’s General Stores from $305.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $309.00.

Casey’s General Stores Stock Down 0.1 %

Shares of NASDAQ:CASY traded down $0.24 during midday trading on Thursday, reaching $318.45. The company had a trading volume of 245,537 shares, compared to its average volume of 274,474. Casey’s General Stores, Inc. has a 1-year low of $212.50 and a 1-year high of $324.40. The stock has a market cap of $11.79 billion, a PE ratio of 25.29, a P/E/G ratio of 2.52 and a beta of 0.83. The company has a quick ratio of 0.42, a current ratio of 0.89 and a debt-to-equity ratio of 0.54. The business’s 50 day moving average price is $293.44 and its 200 day moving average price is $281.51.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results on Tuesday, March 12th. The company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.13. The business had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.51 billion. Casey’s General Stores had a return on equity of 16.70% and a net margin of 3.23%. The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.36 EPS. Research analysts forecast that Casey’s General Stores, Inc. will post 12.88 EPS for the current fiscal year.

Casey’s General Stores Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.54%. Casey’s General Stores’s payout ratio is presently 13.67%.

About Casey’s General Stores

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. Its stores offer pizza, donuts, breakfast items, and sandwiches; and tobacco and nicotine products. The company's stores provide soft drinks, energy, water, sports drinks, juices, coffee, and tea and dairy products; beer, wine, and spirits; snacks, candy, packaged bakery, and other food items; ice, ice cream, meals, and appetizers; health and beauty aids, automotive products, electronic accessories, housewares, and pet supplies; and ATM, lotto/lottery, and prepaid cards.