Advisors Capital Management LLC Trims Stock Holdings in Casey’s General Stores, Inc. (NASDAQ:CASY)

Advisors Capital Management LLC lowered its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 45,497 shares of the company’s stock after selling 385 shares during the quarter. Advisors Capital Management LLC owned 0.12% of Casey’s General Stores worth $18,027,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CASY. Sanctuary Advisors LLC grew its holdings in shares of Casey’s General Stores by 55.6% in the fourth quarter. Sanctuary Advisors LLC now owns 8,579 shares of the company’s stock worth $3,629,000 after purchasing an additional 3,065 shares during the last quarter. Scholtz & Company LLC bought a new position in Casey’s General Stores in the fourth quarter worth approximately $2,375,000. JLB & Associates Inc. increased its holdings in Casey’s General Stores by 1.8% during the 4th quarter. JLB & Associates Inc. now owns 43,029 shares of the company’s stock worth $17,049,000 after purchasing an additional 749 shares during the period. Segall Bryant & Hamill LLC raised its position in Casey’s General Stores by 9.1% during the 4th quarter. Segall Bryant & Hamill LLC now owns 53,330 shares of the company’s stock valued at $21,131,000 after purchasing an additional 4,458 shares in the last quarter. Finally, South Dakota Investment Council lifted its holdings in shares of Casey’s General Stores by 28.0% in the 4th quarter. South Dakota Investment Council now owns 10,065 shares of the company’s stock worth $3,988,000 after buying an additional 2,200 shares during the period. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Insider Activity

In related news, insider Katrina S. Lindsey sold 250 shares of the business’s stock in a transaction on Friday, April 4th. The stock was sold at an average price of $437.01, for a total transaction of $109,252.50. Following the completion of the transaction, the insider now directly owns 2,443 shares of the company’s stock, valued at $1,067,615.43. The trade was a 9.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mike Spanos purchased 256 shares of Casey’s General Stores stock in a transaction on Thursday, March 13th. The stock was bought at an average cost of $390.54 per share, for a total transaction of $99,978.24. Following the transaction, the director now directly owns 3,356 shares in the company, valued at $1,310,652.24. This represents a 8.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

CASY has been the subject of several research reports. Royal Bank of Canada set a $438.00 price target on shares of Casey’s General Stores and gave the stock a “sector perform” rating in a research report on Wednesday, March 12th. KeyCorp began coverage on shares of Casey’s General Stores in a report on Friday. They issued an “overweight” rating and a $500.00 price target on the stock. Gordon Haskett upgraded Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Stephens upgraded Casey’s General Stores to a “strong-buy” rating in a research note on Monday, April 7th. Finally, BMO Capital Markets restated a “market perform” rating and set a $450.00 price target (up previously from $400.00) on shares of Casey’s General Stores in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $430.33.

Casey’s General Stores Stock Up 4.4 %

Casey’s General Stores stock opened at $457.25 on Friday. The company has a market capitalization of $16.97 billion, a PE ratio of 31.86, a price-to-earnings-growth ratio of 2.40 and a beta of 0.74. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.49 and a current ratio of 0.88. Casey’s General Stores, Inc. has a fifty-two week low of $306.60 and a fifty-two week high of $459.46. The firm has a 50 day moving average price of $418.43 and a 200 day moving average price of $407.75.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Tuesday, March 11th. The company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.57. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. The firm had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.74 billion. During the same quarter in the previous year, the business earned $2.33 EPS. The company’s quarterly revenue was up 17.2% compared to the same quarter last year. Research analysts expect that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey’s General Stores Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $2.00 annualized dividend and a dividend yield of 0.44%. Casey’s General Stores’s dividend payout ratio is presently 13.94%.

Casey’s General Stores Company Profile

Casey’s General Stores, Inc engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.