Martingale Asset Management L P Sells 6,437 Shares of Casey's General Stores, Inc. (NASDAQ:CASY)

Martingale Asset Management L P reduced its stake in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 8.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 69,426 shares of the company's stock after selling 6,437 shares during the quarter. Martingale Asset Management L P owned about 0.19% of Casey's General Stores worth $27,509,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Casey's General Stores by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 3,799,104 shares of the company's stock valued at $1,505,319,000 after purchasing an additional 44,295 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Casey's General Stores by 18.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 758,804 shares of the company's stock valued at $285,090,000 after buying an additional 119,350 shares in the last quarter. Franklin Resources Inc. raised its stake in Casey's General Stores by 29.5% during the 4th quarter. Franklin Resources Inc. now owns 678,778 shares of the company's stock worth $268,952,000 after buying an additional 154,541 shares during the period. Geode Capital Management LLC lifted its holdings in Casey's General Stores by 1.3% during the third quarter. Geode Capital Management LLC now owns 655,488 shares of the company's stock worth $246,335,000 after acquiring an additional 8,428 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Casey's General Stores during the fourth quarter worth about $236,500,000. 85.63% of the stock is owned by institutional investors.

Analyst Ratings Changes

CASY has been the topic of a number of research analyst reports. Stephens raised Casey's General Stores to a "strong-buy" rating in a research report on Monday, April 7th. StockNews.com lowered shares of Casey's General Stores from a "buy" rating to a "hold" rating in a research note on Saturday, March 8th. Evercore ISI increased their price objective on shares of Casey's General Stores from $450.00 to $460.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 1st. Royal Bank of Canada set a $438.00 price objective on shares of Casey's General Stores and gave the stock a "sector perform" rating in a report on Wednesday, March 12th. Finally, KeyCorp initiated coverage on shares of Casey's General Stores in a research note on Friday. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $430.33.

Casey's General Stores Stock Performance

Shares of Casey's General Stores stock traded down $3.01 during trading on Monday, reaching $454.24. The company's stock had a trading volume of 121,274 shares, compared to its average volume of 283,076. 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 business's 50-day moving average price is $418.43 and its 200-day moving average price is $407.99. Casey's General Stores, Inc. has a 52 week low of $306.69 and a 52 week high of $470.00. The firm has a market cap of $16.86 billion, a PE ratio of 31.65, a P/E/G ratio of 2.40 and a beta of 0.74.

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 net margin of 3.57% and a return on equity of 17.17%. The firm had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $3.74 billion. During the same quarter in the previous year, the firm posted $2.33 EPS. The business's revenue for the quarter was up 17.2% compared to the same quarter last year. Equities analysts forecast that Casey's General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey's General Stores Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.44%. Casey's General Stores's payout ratio is 13.94%.

Insider Activity

In other Casey's General Stores news, Director Mike Spanos bought 256 shares of the business's stock in a transaction on Thursday, March 13th. The stock was purchased at an average cost of $390.54 per share, for a total transaction of $99,978.24. Following the completion of the purchase, the director now directly owns 3,356 shares of the company's stock, valued at approximately $1,310,652.24. This trade represents a 8.26 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 value of $109,252.50. Following the transaction, the insider now directly owns 2,443 shares of the company's stock, valued at $1,067,615.43. This trade represents a 9.28 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.56% of the company's stock.

About Casey's General Stores

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.