Lazard Asset Management LLC Decreases Position in Casey's General Stores, Inc. (NASDAQ:CASY)

Lazard Asset Management LLC trimmed its holdings in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 45.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,361 shares of the company's stock after selling 1,973 shares during the period. Lazard Asset Management LLC's holdings in Casey's General Stores were worth $934,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Natixis lifted its stake in shares of Casey's General Stores by 21.9% in the 4th quarter. Natixis now owns 8,337 shares of the company's stock valued at $3,303,000 after acquiring an additional 1,499 shares during the last quarter. Sanctuary Advisors LLC lifted its position in Casey's General Stores by 55.6% in the fourth quarter. Sanctuary Advisors LLC now owns 8,579 shares of the company's stock valued at $3,629,000 after purchasing an additional 3,065 shares during the last quarter. Scholtz & Company LLC purchased a new stake in shares of Casey's General Stores during the fourth quarter valued at approximately $2,375,000. JLB & Associates Inc. boosted its stake in shares of Casey's General Stores by 1.8% during the fourth quarter. JLB & Associates Inc. now owns 43,029 shares of the company's stock valued at $17,049,000 after purchasing an additional 749 shares during the period. Finally, Segall Bryant & Hamill LLC grew its holdings in shares of Casey's General Stores by 9.1% in the fourth quarter. Segall Bryant & Hamill LLC now owns 53,330 shares of the company's stock worth $21,131,000 after purchasing an additional 4,458 shares during the last quarter. 85.63% of the stock is owned by institutional investors.

Casey's General Stores Price Performance

Shares of CASY stock opened at $458.64 on Wednesday. The business's fifty day moving average is $439.64 and its 200 day moving average is $420.73. 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 $17.02 billion, a price-to-earnings ratio of 31.96, a PEG ratio of 2.40 and a beta of 0.70. Casey's General Stores, Inc. has a twelve month low of $313.89 and a twelve month high of $474.97.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its earnings results on Tuesday, March 11th. The company reported $2.33 EPS for the quarter, beating analysts' consensus estimates of $1.76 by $0.57. The firm had revenue of $3.90 billion for the quarter, compared to analysts' expectations of $3.74 billion. Casey's General Stores had a net margin of 3.57% and a return on equity of 17.17%. The company's quarterly revenue was up 17.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.33 EPS. Research analysts expect that Casey's General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey's General Stores Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.44%. The ex-dividend date was Thursday, May 1st. Casey's General Stores's payout ratio is currently 13.94%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. KeyCorp assumed coverage on shares of Casey's General Stores in a report on Friday, April 11th. They set an "overweight" rating and a $500.00 price target for the company. StockNews.com downgraded shares of Casey's General Stores from a "buy" rating to a "hold" rating in a research note on Saturday, March 8th. 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. Evercore ISI boosted their price target on Casey's General Stores from $450.00 to $460.00 and gave the company an "outperform" rating in a report on Tuesday, April 1st. Finally, Gordon Haskett upgraded Casey's General Stores from a "hold" rating to a "buy" rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $430.33.

Insiders Place Their Bets

In related news, Director Mike Spanos acquired 256 shares of the stock in a transaction on Thursday, March 13th. The stock was acquired at an average price of $390.54 per share, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 completion of 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. 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.

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