Tributary Capital Management LLC Trims Stake in Casey’s General Stores, Inc. $CASY

Tributary Capital Management LLC reduced its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 30.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,773 shares of the company’s stock after selling 767 shares during the period. Tributary Capital Management LLC’s holdings in Casey’s General Stores were worth $980,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CASY. Foster Dykema Cabot & Partners LLC purchased a new stake in Casey’s General Stores during the third quarter valued at approximately $25,000. Westside Investment Management Inc. increased its stake in shares of Casey’s General Stores by 100.0% in the third quarter. Westside Investment Management Inc. now owns 46 shares of the company’s stock worth $26,000 after purchasing an additional 23 shares in the last quarter. Central Pacific Bank Trust Division increased its stake in shares of Casey’s General Stores by 52.8% in 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 in the last quarter. True Wealth Design LLC increased its stake in shares of Casey’s General Stores by 350.0% in 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 in the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new stake in shares of Casey’s General Stores in the third quarter worth $33,000. 85.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CASY shares. Jefferies Financial Group increased their price objective on shares of Casey’s General Stores from $700.00 to $780.00 and gave the stock a “buy” rating in a research note on Tuesday, March 10th. Bank of America started coverage on shares of Casey’s General Stores in a research note on Friday, January 9th. They issued a “buy” rating for the company. UBS Group increased their price objective on shares of Casey’s General Stores from $600.00 to $706.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 11th. Northcoast Research cut shares of Casey’s General Stores from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 21st. Finally, Wells Fargo & Company increased their price objective on shares of Casey’s General Stores from $725.00 to $745.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 10th. Eight equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, Casey’s General Stores has a consensus rating of “Moderate Buy” and a consensus target price of $700.09.

Casey’s General Stores Price Performance

CASY stock opened at $754.72 on Friday. Casey’s General Stores, Inc. has a 52 week low of $430.00 and a 52 week high of $774.23. The company has a quick ratio of 0.64, a current ratio of 1.04 and a debt-to-equity ratio of 0.61. The company has a fifty day simple moving average of $694.71 and a two-hundred day simple moving average of $612.81. The firm has a market capitalization of $27.89 billion, a P/E ratio of 43.32, a price-to-earnings-growth ratio of 2.40 and a beta of 0.61.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings data on Monday, March 9th. The company reported $3.49 EPS 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 analyst estimates of $4.08 billion. During the same quarter last year, the business earned $2.33 earnings per share. Casey’s General Stores’s quarterly revenue was up .3% compared to the same quarter last year. Analysts anticipate 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 company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 1st will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Friday, May 1st. Casey’s General Stores’s dividend payout ratio (DPR) is 13.09%.

Insider Activity

In other news, Director Mike Spanos bought 300 shares of the stock in a transaction dated Friday, March 13th. The stock was purchased at an average price of $665.43 per share, for a total transaction of $199,629.00. Following the acquisition, the director owned 4,499 shares of the company’s stock, valued at $2,993,769.57. The trade was a 7.14% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Katrina S. Lindsey sold 200 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $683.04, for a total transaction of $136,608.00. Following the completion of the sale, the insider owned 4,039 shares of the company’s stock, valued at $2,758,798.56. This trade represents a 4.72% decrease in their position. The SEC filing for this sale provides additional information. 0.54% of the stock is currently owned by company insiders.

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.