Principal Financial Group Inc. Sells 5,998 Shares of Casey's General Stores, Inc. $CASY

Key Points

• Principal Financial Group trimmed its stake in Casey's by 2.4%, selling 5,998 shares and leaving it with 247,080 shares valued at about $136.6 million (roughly 0.67% of the company).
• Casey's reported quarterly EPS of $3.49, beating the $2.94 consensus while revenue of $3.92 billion missed expectations; revenue was up 0.3% year-over-year and analysts forecast FY EPS of 18.24.
• The company declared a quarterly dividend of $0.57 per share (ex-dividend May 1, payable May 15), and the stock carries a consensus "Moderate Buy" rating with an average price target of $725.09 (market cap ~$31.7B).

Principal Financial Group Inc. lowered its position in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 2.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 247,080 shares of the company's stock after selling 5,998 shares during the period. Principal Financial Group Inc. owned about 0.67% of Casey's General Stores worth $136,564,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Cannon Global Investment Management LLC bought a new position in shares of Casey's General Stores during the 3rd quarter valued at $1,018,000. Advisors Capital Management LLC lifted its stake in Casey's General Stores by 4.4% in the third quarter. Advisors Capital Management LLC now owns 48,355 shares of the company's stock worth $27,336,000 after purchasing an additional 2,026 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in Casey's General Stores by 1.0% during the third quarter. Thrivent Financial for Lutherans now owns 191,156 shares of the company's stock valued at $108,065,000 after buying an additional 1,950 shares during the period. AE Wealth Management LLC boosted its position in Casey's General Stores by 82.3% during the third quarter. AE Wealth Management LLC now owns 2,574 shares of the company's stock valued at $1,456,000 after buying an additional 1,162 shares during the period. Finally, GSA Capital Partners LLP grew its stake in shares of Casey's General Stores by 61.6% during the third quarter. GSA Capital Partners LLP now owns 2,572 shares of the company's stock valued at $1,454,000 after buying an additional 980 shares during the last quarter. 85.63% of the stock is currently owned by institutional investors.

Casey's General Stores Stock Down 0.5%

CASY stock opened at $858.14 on Thursday. Casey's General Stores, Inc. has a fifty-two week low of $430.00 and a fifty-two week high of $867.56. The company has a market capitalization of $31.72 billion, a price-to-earnings ratio of 49.26, a price-to-earnings-growth ratio of 2.38 and a beta of 0.65. The business's 50 day moving average price is $725.86 and its two-hundred day moving average price is $632.05. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.64 and a current ratio of 1.04.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its quarterly earnings data on Monday, March 9th. The company reported $3.49 EPS for the quarter, topping the consensus estimate of $2.94 by $0.55. Casey's General Stores had a net margin of 3.83% and a return on equity of 17.56%. The business had revenue of $3.92 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the previous year, the firm posted $2.33 earnings per share. Casey's General Stores's quarterly revenue was up .3% on a year-over-year basis. As a group, analysts forecast that Casey's General Stores, Inc. will post 18.24 earnings per share for the current fiscal year.

Casey's General Stores Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 1st will be issued a dividend of $0.57 per share. The ex-dividend date is Friday, May 1st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.3%. Casey's General Stores's dividend payout ratio is presently 13.09%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CASY shares. Royal Bank Of Canada boosted their target price on Casey's General Stores from $662.00 to $713.00 and gave the company a "sector perform" rating in a research note on Tuesday, March 10th. JPMorgan Chase & Co. began coverage on Casey's General Stores in a research report on Thursday, March 26th. They set a "neutral" rating and a $719.00 price target on the stock. BMO Capital Markets reaffirmed a "market perform" rating and issued a $700.00 price target on shares of Casey's General Stores in a research note on Wednesday, March 4th. Weiss Ratings reissued a "buy (b)" rating on shares of Casey's General Stores in a research note on Friday, March 27th. Finally, Deutsche Bank Aktiengesellschaft set a $688.00 target price on shares of Casey's General Stores in a research note on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $725.09.

Insider Buying and Selling

In other news, Director Mike Spanos purchased 300 shares of Casey's General Stores stock in a transaction that occurred on Friday, March 13th. The stock was bought at an average price of $665.43 per share, with a total value of $199,629.00. Following the completion of the transaction, the director directly owned 4,499 shares of the company's stock, valued at approximately $2,993,769.57. The trade was a 7.14% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Katrina S. Lindsey sold 200 shares of the company's stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $683.04, for a total value of $136,608.00. Following the completion of the transaction, the insider directly owned 4,039 shares in the company, valued at $2,758,798.56. This trade represents a 4.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.54% of the company's stock.

Casey's General Stores Profile

Casey's General Stores, Inc NASDAQ: CASY is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company's stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.

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