Riverbridge Partners LLC Has $16.06 Million Position in Casey’s General Stores, Inc. $CASY

Riverbridge Partners LLC lessened its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 21.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 29,061 shares of the company’s stock after selling 8,088 shares during the period. Riverbridge Partners LLC’s holdings in Casey’s General Stores were worth $16,062,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CASY. Foster Dykema Cabot & Partners LLC acquired a new stake in shares of Casey’s General Stores during the 3rd quarter worth $25,000. Westside Investment Management Inc. raised its stake in Casey’s General Stores by 100.0% in the third quarter. Westside Investment Management Inc. now owns 46 shares of the company’s stock valued at $26,000 after purchasing an additional 23 shares in the last quarter. True Wealth Design LLC lifted its position in Casey’s General Stores by 350.0% during the fourth quarter. True Wealth Design LLC now owns 54 shares of the company’s stock worth $30,000 after purchasing an additional 42 shares during the period. Central Pacific Bank Trust Division lifted its position in Casey’s General Stores by 52.8% during the fourth quarter. Central Pacific Bank Trust Division now owns 55 shares of the company’s stock worth $30,000 after purchasing an additional 19 shares during the period. Finally, Atlantic Union Bankshares Corp acquired a new stake in Casey’s General Stores during the third quarter worth about $33,000. 85.63% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CASY has been the subject of several analyst reports. Evercore set a $665.00 target price on shares of Casey’s General Stores and gave the company an “outperform” rating in a research report on Tuesday, February 24th. Royal Bank Of Canada increased their price target on shares of Casey’s General Stores from $662.00 to $713.00 and gave the stock a “sector perform” rating in a research report on Tuesday, March 10th. Weiss Ratings restated a “buy (b)” rating on shares of Casey’s General Stores in a research report on Monday, December 29th. Northcoast Research cut Casey’s General Stores from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 21st. Finally, Wall Street Zen downgraded Casey’s General Stores from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Eight analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $700.09.

Casey’s General Stores Trading Down 0.3%

CASY opened at $711.81 on Friday. The company’s 50 day moving average is $659.93 and its 200-day moving average is $591.28. Casey’s General Stores, Inc. has a 1-year low of $397.80 and a 1-year high of $721.50. The company has a current ratio of 1.04, a quick ratio of 0.64 and a debt-to-equity ratio of 0.61. The company has a market cap of $26.31 billion, a P/E ratio of 40.86, a PEG ratio of 2.33 and a beta of 0.65.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings data on Monday, March 9th. The company reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.94 by $0.55. The business had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Casey’s General Stores had a net margin of 3.83% and a return on equity of 17.56%. The firm’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.33 EPS. Equities research analysts predict that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey’s General Stores Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 1st will be issued a dividend of $0.57 per share. The ex-dividend date is Friday, May 1st. This represents a $2.28 annualized dividend and a dividend yield of 0.3%. Casey’s General Stores’s dividend payout ratio is 13.09%.

Insider Transactions at Casey’s General Stores

In other news, insider Katrina S. Lindsey sold 200 shares of the stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $683.04, for a total value of $136,608.00. Following the completion of the transaction, the insider directly owned 4,039 shares in the company, valued at approximately $2,758,798.56. This represents a 4.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mike Spanos acquired 300 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The shares were purchased at an average cost of $665.43 per share, for a total transaction of $199,629.00. Following the acquisition, the director owned 4,499 shares in the company, valued at $2,993,769.57. This represents a 7.14% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.54% of the company’s stock.

Casey’s General Stores Company Profile

Casey’s General Stores, Inc (NASDAQ: CASY) is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.