Casey’s General Stores, Inc. $CASY Shares Sold by Bridges Investment Management Inc.

Bridges Investment Management Inc. lowered its position in Casey’s General Stores, Inc. (NASDAQ:CASY) by 9.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 158,168 shares of the company’s stock after selling 16,020 shares during the period. Casey’s General Stores comprises approximately 1.1% of Bridges Investment Management Inc.’s investment portfolio, making the stock its 26th biggest position. Bridges Investment Management Inc.’s holdings in Casey’s General Stores were worth $87,421,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its position in shares of Casey’s General Stores by 179,938.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,659,164 shares of the company’s stock worth $1,469,747,000 after acquiring an additional 2,657,687 shares during the period. Victory Capital Management Inc. raised its position in shares of Casey’s General Stores by 35.4% during the 3rd quarter. Victory Capital Management Inc. now owns 791,415 shares of the company’s stock worth $447,403,000 after purchasing an additional 206,777 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Casey’s General Stores by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 760,438 shares of the company’s stock worth $420,416,000 after purchasing an additional 52,250 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Casey’s General Stores by 7.0% during the 3rd quarter. Franklin Resources Inc. now owns 758,212 shares of the company’s stock worth $428,632,000 after purchasing an additional 49,319 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Casey’s General Stores by 5.0% during the 3rd quarter. Invesco Ltd. now owns 507,998 shares of the company’s stock worth $287,182,000 after purchasing an additional 24,091 shares during the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

Casey’s General Stores Stock Performance

Casey’s General Stores stock opened at $754.21 on Wednesday. The firm has a 50 day simple moving average of $782.11 and a 200-day simple moving average of $669.99. Casey’s General Stores, Inc. has a 1-year low of $433.16 and a 1-year high of $901.00. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.04 and a quick ratio of 0.64. The stock has a market cap of $27.88 billion, a price-to-earnings ratio of 43.30, a price-to-earnings-growth ratio of 2.06 and a beta of 0.61.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results on Monday, March 9th. The company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $2.94 by $0.55. Casey’s General Stores had a net margin of 3.83% and a return on equity of 17.56%. The business had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the prior year, the company posted $2.33 EPS. The business’s revenue for the quarter was up .3% on a year-over-year basis. On average, analysts expect that Casey’s General Stores, Inc. will post 18.19 EPS for the current year.

Casey’s General Stores Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were paid a $0.57 dividend. The ex-dividend date of this dividend was 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%.

Analyst Upgrades and Downgrades

CASY has been the subject of several research analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Casey’s General Stores in a research report on Thursday, March 26th. They set a “neutral” rating and a $719.00 price target for the company. Wall Street Zen downgraded shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Casey’s General Stores in a report on Friday, March 27th. Jefferies Financial Group increased their price objective on shares of Casey’s General Stores from $700.00 to $780.00 and gave the company a “buy” rating in a report on Tuesday, March 10th. Finally, Stephens reiterated an “overweight” rating and issued a $680.00 price objective on shares of Casey’s General Stores in a report on Tuesday, March 10th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $752.36.

Insider Buying and Selling

In related news, Director Mike Spanos acquired 300 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average price of $665.43 per share, with a total value of $199,629.00. Following the transaction, the director owned 4,499 shares of the company’s stock, valued at approximately $2,993,769.57. This trade represents a 7.14% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Katrina S. Lindsey sold 200 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $683.04, for a total transaction of $136,608.00. Following the transaction, the insider directly owned 4,039 shares of the company’s stock, valued at $2,758,798.56. The trade was a 4.72% decrease in their position. Additional details regarding this sale 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.