Congress Asset Management Co. Sells 44,135 Shares of Casey's General Stores, Inc. (NASDAQ:CASY)

Congress Asset Management Co. decreased its stake in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 13.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 273,175 shares of the company's stock after selling 44,135 shares during the period. Congress Asset Management Co. owned about 0.74% of Casey's General Stores worth $118,569,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. HighPoint Advisor Group LLC increased its stake in Casey's General Stores by 1.7% in the 4th quarter. HighPoint Advisor Group LLC now owns 1,468 shares of the company's stock worth $628,000 after purchasing an additional 25 shares in the last quarter. Burns J W & Co. Inc. NY lifted its stake in shares of Casey's General Stores by 2.1% in the first quarter. Burns J W & Co. Inc. NY now owns 1,204 shares of the company's stock valued at $522,000 after buying an additional 25 shares during the period. Dark Forest Capital Management LP increased its holdings in Casey's General Stores by 3.2% in the 4th quarter. Dark Forest Capital Management LP now owns 902 shares of the company's stock valued at $357,000 after buying an additional 28 shares during the period. Harbour Investments Inc. grew its stake in shares of Casey's General Stores by 3.1% in the 4th quarter. Harbour Investments Inc. now owns 1,002 shares of the company's stock valued at $397,000 after purchasing an additional 30 shares during the period. Finally, Laidlaw Wealth Management LLC grew its stake in Casey's General Stores by 3.1% during the fourth quarter. Laidlaw Wealth Management LLC now owns 1,063 shares of the company's stock worth $421,000 after buying an additional 32 shares during the last quarter. Institutional investors own 85.63% of the company's stock.

Casey's General Stores Price Performance

NASDAQ:CASY traded up $50.91 during trading hours on Tuesday, hitting $490.20. The company's stock had a trading volume of 1,339,381 shares, compared to its average volume of 305,522. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.49 and a current ratio of 0.88. The company has a market capitalization of $18.20 billion, a PE ratio of 34.16, a PEG ratio of 2.40 and a beta of 0.65. Casey's General Stores, Inc. has a 52-week low of $322.78 and a 52-week high of $508.72. The business's 50-day moving average is $448.42 and its two-hundred day moving average is $424.74.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its earnings results on Monday, June 9th. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.69. Casey's General Stores had a return on equity of 17.17% and a net margin of 3.57%. The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.95 billion. During the same period last year, the company posted $2.34 EPS. The business's quarterly revenue was up 10.9% on a year-over-year basis. As a group, research analysts anticipate that Casey's General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey's General Stores Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be paid a $0.57 dividend. This is a positive change from Casey's General Stores's previous quarterly dividend of $0.50. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Friday, August 1st. Casey's General Stores's dividend payout ratio is currently 13.94%.

Analyst Ratings Changes

A number of research firms have recently weighed in on CASY. Stephens reissued an "overweight" rating and issued a $490.00 price target on shares of Casey's General Stores in a research note on Tuesday. Wall Street Zen downgraded Casey's General Stores from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Gordon Haskett upgraded Casey's General Stores from a "hold" rating to a "buy" rating in a research note on Thursday, February 13th. Royal Bank of Canada set a $438.00 target price on Casey's General Stores and gave the stock a "sector perform" rating in a research note on Wednesday, March 12th. Finally, KeyCorp initiated coverage on shares of Casey's General Stores in a report on Friday, April 11th. They set an "overweight" rating and a $500.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Casey's General Stores has a consensus rating of "Moderate Buy" and a consensus price target of $434.92.

Insider Buying and Selling at Casey's General Stores

In other news, Director Mike Spanos acquired 256 shares of the firm's stock in a transaction on Thursday, March 13th. The shares were purchased at an average cost of $390.54 per share, with a total value of $99,978.24. Following the completion of the purchase, the director now owns 3,356 shares of the company's stock, valued at $1,310,652.24. This represents a 8.26% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Katrina S. Lindsey sold 250 shares of the stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $437.01, for a total transaction of $109,252.50. Following the sale, the insider now directly owns 2,443 shares in the company, valued at $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 owned by corporate insiders.

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.