Jennison Associates LLC Lowers Stock Holdings in Casey’s General Stores, Inc. $CASY

Jennison Associates LLC decreased its position in Casey’s General Stores, Inc. (NASDAQ:CASY) by 52.2% during the first quarter, HoldingsChannel.com reports. The firm owned 13,635 shares of the company’s stock after selling 14,913 shares during the quarter. Jennison Associates LLC’s holdings in Casey’s General Stores were worth $9,924,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. True Wealth Design LLC raised its holdings in Casey’s General Stores by 350.0% in the 4th 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 grew its stake in shares of Casey’s General Stores by 52.8% in the 4th quarter. Central Pacific Bank Trust Division now owns 55 shares of the company’s stock worth $30,000 after buying an additional 19 shares in the last quarter. Whipplewood Advisors LLC purchased a new stake in Casey’s General Stores during the first quarter valued at approximately $33,000. ORG Partners LLC increased its position in shares of Casey’s General Stores by 47.6% during the 4th quarter. ORG Partners LLC now owns 62 shares of the company’s stock valued at $34,000 after purchasing an additional 20 shares during the last quarter. Finally, Larson Financial Group LLC raised its holdings in Casey’s General Stores by 252.4% during the 4th quarter. Larson Financial Group LLC now owns 74 shares of the company’s stock valued at $41,000 after buying an additional 53 shares during the period. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Insider Buying and Selling at Casey’s General Stores

In other news, CEO Darren M. Rebelez sold 19,000 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $801.46, for a total value of $15,227,740.00. Following the completion of the transaction, the chief executive officer directly owned 89,174 shares in the company, valued at $71,469,394.04. This trade represents a 17.56% 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 Allison M. Wing sold 530 shares of Casey’s General Stores stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $837.58, for a total value of $443,917.40. Following the sale, the director directly owned 3,042 shares of the company’s stock, valued at $2,547,918.36. This trade represents a 14.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 30,243 shares of company stock worth $24,421,877. 0.54% of the stock is owned by corporate insiders.

Casey’s General Stores Trading Down 0.9%

NASDAQ CASY opened at $858.26 on Wednesday. The company has a fifty day simple moving average of $822.17 and a two-hundred day simple moving average of $737.11. The stock has a market cap of $31.76 billion, a P/E ratio of 44.79, a P/E/G ratio of 2.60 and a beta of 0.62. Casey’s General Stores, Inc. has a 12-month low of $490.00 and a 12-month high of $927.85. The company has a current ratio of 1.01, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates of $3.31 by $1.06. The firm had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.33 billion. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.63 earnings per share. On average, analysts forecast that Casey’s General Stores, Inc. will post 21.14 earnings per share for the current year.

Casey’s General Stores Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Saturday, August 1st will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $2.60 dividend on an annualized basis and a yield of 0.3%. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.57. Casey’s General Stores’s payout ratio is presently 11.90%.

Analyst Ratings Changes

A number of analysts have weighed in on CASY shares. Northcoast Research upgraded Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $950.00 target price on the stock in a research note on Monday, July 13th. Wall Street Zen raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. UBS Group upped their price target on shares of Casey’s General Stores from $805.00 to $945.00 and gave the stock a “neutral” rating in a report on Thursday, June 11th. BMO Capital Markets raised shares of Casey’s General Stores from a “market perform” rating to an “outperform” rating and set a $950.00 price target on the stock in a research note on Monday, June 29th. Finally, BNP Paribas Exane decreased their price objective on shares of Casey’s General Stores from $1,032.00 to $995.00 and set an “outperform” rating for the company in a report on Thursday, June 25th. Fourteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $940.00.

Casey’s General Stores 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.