Congress Asset Management Co. Sells 21,176 Shares of Casey’s General Stores, Inc. $CASY

Congress Asset Management Co. cut its holdings in Casey’s General Stores, Inc. (NASDAQ:CASY) by 18.4% in the third quarter, Holdings Channel reports. The institutional investor owned 93,641 shares of the company’s stock after selling 21,176 shares during the quarter. Congress Asset Management Co.’s holdings in Casey’s General Stores were worth $56,977,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Daiichi Life Insurance Co. Ltd. purchased a new stake in shares of Casey’s General Stores in the second quarter valued at approximately $1,222,000. National Pension Service lifted its position in Casey’s General Stores by 3,138.9% during the second quarter. National Pension Service now owns 67,466 shares of the company’s stock worth $53,621,000 after buying an additional 65,383 shares in the last quarter. Burns J W & Co. Inc. NY boosted its stake in Casey’s General Stores by 103.5% during the first quarter. Burns J W & Co. Inc. NY now owns 2,448 shares of the company’s stock worth $1,782,000 after buying an additional 1,245 shares during the last quarter. NEOS Investment Management LLC acquired a new position in Casey’s General Stores during the second quarter worth $4,602,000. Finally, Teachers Retirement System of The State of Kentucky grew its holdings in Casey’s General Stores by 52.0% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 17,079 shares of the company’s stock valued at $12,431,000 after buying an additional 5,846 shares in the last quarter. 85.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on CASY. Northcoast Research raised Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $950.00 target price for the company in a research note on Monday, July 13th. Royal Bank Of Canada dropped their price objective on shares of Casey’s General Stores from $913.00 to $910.00 and set a “sector perform” rating for the company in a report on Wednesday, September 9th. BNP Paribas Exane decreased their price target on Casey’s General Stores from $1,032.00 to $995.00 and set an “outperform” rating on the stock in a research note on Thursday, June 25th. The Goldman Sachs Group set a $750.00 price target on Casey’s General Stores in a report on Wednesday, September 9th. Finally, UBS Group cut their price objective on Casey’s General Stores from $925.00 to $720.00 and set a “neutral” rating for the company in a research report on Thursday, September 10th. Fifteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $840.69.

Insiders Place Their Bets

In related news, CFO P Jr sold 5,700 shares of the business’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $838.16, for a total value of $4,777,512.00. Following the sale, the chief financial officer owned 29,677 shares in the company, valued at approximately $24,874,074.32. The trade was a 16.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Allison Wing sold 530 shares of the 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 transaction, the director directly owned 3,042 shares in the company, valued at approximately $2,547,918.36. The trade was a 14.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.67% of the company’s stock.

Casey’s General Stores Trading Up 0.6%

Shares of NASDAQ:CASY traded up $3.47 during mid-day trading on Tuesday, reaching $620.80. 643,629 shares of the company were exchanged, compared to its average volume of 527,605. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 0.61. The firm has a market cap of $22.94 billion, a price-to-earnings ratio of 29.90, a P/E/G ratio of 2.01 and a beta of 0.59. The firm’s 50-day simple moving average is $738.65 and its 200 day simple moving average is $777.37. Casey’s General Stores, Inc. has a 1 year low of $497.38 and a 1 year high of $927.85.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Tuesday, September 8th. The company reported $7.37 earnings per share for the quarter, beating the consensus estimate of $6.78 by $0.59. The firm had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.56 billion. Casey’s General Stores had a net margin of 4.14% and a return on equity of 19.68%. The firm’s revenue for the quarter was up 24.3% on a year-over-year basis. During the same quarter last year, the firm earned $5.77 EPS. Equities research analysts forecast that Casey’s General Stores, Inc. will post 21.43 EPS for the current year.

Casey’s General Stores Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Sunday, November 1st will be paid a $0.65 dividend. The ex-dividend date of this dividend is Friday, October 30th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.4%. Casey’s General Stores’s payout ratio is presently 12.52%.

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.