Algert Global LLC Cuts Stake in Casey's General Stores, Inc. (NASDAQ:CASY)

Algert Global LLC lowered its holdings in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 92.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,104 shares of the company's stock after selling 13,254 shares during the quarter. Algert Global LLC's holdings in Casey's General Stores were worth $437,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. YANKCOM Partnership purchased a new position in Casey's General Stores during the 4th quarter valued at approximately $34,000. Endeavor Private Wealth Inc. bought a new stake in Casey's General Stores in the 4th quarter worth approximately $36,000. MassMutual Private Wealth & Trust FSB increased its stake in Casey's General Stores by 24.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 149 shares of the company's stock worth $59,000 after acquiring an additional 29 shares during the last quarter. Heck Capital Advisors LLC bought a new stake in Casey's General Stores in the 4th quarter worth approximately $79,000. Finally, V Square Quantitative Management LLC increased its stake in Casey's General Stores by 32.9% in the 4th quarter. V Square Quantitative Management LLC now owns 210 shares of the company's stock worth $83,000 after acquiring an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 85.63% of the company's stock.

Casey's General Stores Price Performance

CASY opened at $446.68 on Monday. The business has a fifty day moving average of $432.29 and a 200 day moving average of $418.51. Casey's General Stores, Inc. has a 52-week low of $313.89 and a 52-week high of $474.97. The company has a quick ratio of 0.49, a current ratio of 0.88 and a debt-to-equity ratio of 0.74. The stock has a market cap of $16.58 billion, a P/E ratio of 31.13, a PEG ratio of 2.40 and a beta of 0.70.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its quarterly earnings data on Tuesday, March 11th. The company reported $2.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $3.90 billion during the quarter, compared to analysts' expectations of $3.74 billion. During the same quarter in the previous year, the business earned $2.33 EPS. Casey's General Stores's revenue was up 17.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Casey's General Stores, Inc. will post 13.94 EPS for the current year.

Casey's General Stores Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date is Thursday, May 1st. Casey's General Stores's dividend payout ratio (DPR) is presently 13.94%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Royal Bank of Canada set a $438.00 price objective on Casey's General Stores and gave the stock a "sector perform" rating in a research note on Wednesday, March 12th. Gordon Haskett raised Casey's General Stores from a "hold" rating to a "buy" rating in a research note on Thursday, February 13th. Evercore ISI lifted their price objective on Casey's General Stores from $450.00 to $460.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 1st. StockNews.com downgraded Casey's General Stores from a "buy" rating to a "hold" rating in a research note on Saturday, March 8th. Finally, KeyCorp started coverage on Casey's General Stores in a report on Friday, April 11th. They issued an "overweight" rating and a $500.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Casey's General Stores presently has a consensus rating of "Moderate Buy" and an average price target of $430.33.

Insider Buying and Selling at Casey's General Stores

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

Casey's General Stores 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.

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