The Manufacturers Life Insurance Company reduced its holdings in Casey’s General Stores, Inc. (NASDAQ: CASY – Get a rating) by 2.7% in the 3rd quarter, according to its last filing with the SEC. The company held 30,187 shares of the company after selling 827 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.08% of Casey’s general stores worth $6,113,000 at the end of the most recent quarter.
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Other hedge funds have also recently increased or reduced their stakes in the company. Ronald Blue Trust Inc. increased its position in Casey’s General Stores by 1,200.0% in the third quarter. Ronald Blue Trust Inc. now owns 169 shares of the company worth $31,000 after acquiring an additional 156 shares during the period. Meeder Asset Management Inc. increased its position in shares of Casey’s General Stores by 39.4% during the second quarter. Meeder Asset Management Inc. now owns 198 shares of the company worth $37,000 after purchasing an additional 56 shares during the period. Lumature Wealth Partners LLC increased its position in shares of Casey’s General Stores by 80.2% during the first quarter. Lumature Wealth Partners LLC now owns 310 shares of the company worth $61,000 after purchasing an additional 138 shares during the period. New Millennium Group LLC purchased a new stock position in Casey’s General Stores during the second quarter for a value of $57,000. Finally, Covestor Ltd increased its position in shares of Casey’s General Stores by 89.7% during the first quarter. Covestor Ltd now owns 330 shares of the company worth $66,000 after purchasing an additional 156 shares during the period. 84.74% of the shares are currently held by hedge funds and other institutional investors.
Casey’s general store inventory down 1.1%
CASY opened at $228.06 on Monday. The company’s 50-day simple moving average is $232.45 and its 200-day simple moving average is $220.12. The company has a debt ratio of 0.65, a quick ratio of 0.65 and a current ratio of 1.08. Casey’s General Stores, Inc. has a one-year low of $170.82 and a one-year high of $249.90. The stock has a market capitalization of $8.50 billion, a P/E ratio of 20.60 and a beta of 0.82.
Casey General Stores (NASDAQ: CASY – Get a rating) last reported results on Tuesday, December 6. The company reported EPS of $3.67 for the quarter, beating analyst consensus estimates of $3.27 by $0.40. Casey’s General Stores recorded a return on equity of 17.78% and a net margin of 2.77%. The company posted revenue of $3.98 billion for the quarter, versus $4.15 billion expected by analysts. Analysts expect Casey’s General Stores, Inc. to post a current year EPS of 10.77.
Casey’s General Stores Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 15. Shareholders of record on Wednesday, February 1 will receive a dividend of $0.38 per share. This represents a dividend of $1.52 on an annualized basis and a dividend yield of 0.67%. The ex-dividend date is Tuesday, January 31. Casey’s General Stores’ dividend payout ratio (DPR) is currently 13.73%.
Analyst upgrades and downgrades
Several research analysts have recently commented on CASY’s actions. Benchmark raised its price target on Casey’s General Stores from $230.00 to $275.00 and gave the stock a “buy” rating in a Thursday, Dec. 8 research report. Stephens raised its price target on Casey’s General Stores from $265.00 to $280.00 and gave the stock an “overweight” rating in a Thursday, Dec. 8 research report. Northcoast Research downgraded Casey’s General Stores from a “buy” rating to a “neutral” rating in a Thursday, Dec. 8 research report. Deutsche Bank Aktiengesellschaft raised its price target on Casey’s General Stores from $286.00 to $291.00 and gave the stock a “buy” rating in a Thursday, Dec. 8 research report. Finally, Credit Suisse Group began covering Casey’s General Stores in a research note on Monday, December 19. They issued a “neutral” rating and a price target of $254.00 on the stock. Three investment analysts gave the stock a hold rating, six gave the company a buy rating and one gave the company a high buy rating. According to data from MarketBeat.com, the stock currently has an average rating of “moderate buy” and a consensus target price of $263.88.
Casey’s General Stores Profile
Casey’s General Stores, Inc is engaged in the management and operation of convenience stores and gas stations. It offers self-serve gasoline, a wide selection of grocery items, and a range of freshly prepared food items. The company offers food, beverages, tobacco products, health and beauty products, automotive products and other non-food items.
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