Wedge Capital Management L L P NC Sells 16,425 Shares of Casey's General Stores, Inc. (NASDAQ:CASY)

Wedge Capital Management L L P NC cut its position in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 13.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 102,286 shares of the company's stock after selling 16,425 shares during the period. Casey's General Stores makes up about 0.9% of Wedge Capital Management L L P NC's investment portfolio, making the stock its 26th largest holding. Wedge Capital Management L L P NC owned about 0.28% of Casey's General Stores worth $44,396,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CASY. JPMorgan Chase & Co. lifted its position in 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 acquiring an additional 119,350 shares in the last quarter. EULAV Asset Management lifted its holdings in shares of Casey's General Stores by 26.2% during the fourth quarter. EULAV Asset Management now owns 161,500 shares of the company's stock valued at $63,991,000 after purchasing an additional 33,500 shares in the last quarter. Kingsview Wealth Management LLC purchased a new stake in shares of Casey's General Stores during the fourth quarter valued at $201,000. WCM Investment Management LLC increased its holdings in Casey's General Stores by 2.8% in the 4th quarter. WCM Investment Management LLC now owns 4,969 shares of the company's stock worth $1,981,000 after buying an additional 133 shares in the last quarter. Finally, Compass Financial Services Inc purchased a new position in Casey's General Stores in the 4th quarter worth about $1,547,000. Institutional investors own 85.63% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on CASY shares. Evercore ISI lifted their price target on shares of 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. Gordon Haskett raised shares of Casey's General Stores from a "hold" rating to a "buy" rating in a research report on Thursday, February 13th. Wall Street Zen downgraded Casey's General Stores from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Stephens raised Casey's General Stores to a "strong-buy" rating in a report on Monday, April 7th. Finally, Royal Bank of Canada set a $438.00 target price on Casey's General Stores and gave the company a "sector perform" rating in a report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $430.33.

Casey's General Stores Stock Performance

Shares of NASDAQ:CASY traded down $4.75 during mid-day trading on Monday, reaching $439.29. 667,600 shares of the company traded hands, compared to its average volume of 301,542. The company's 50 day moving average price is $447.69 and its 200-day moving average price is $424.20. The firm has a market cap of $16.31 billion, a PE ratio of 30.61, 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 $485.50. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.88 and a quick ratio of 0.49.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its quarterly earnings data on Monday, June 9th. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.93 by $0.70. Casey's General Stores had a net margin of 3.57% and a return on equity of 17.17%. During the same period in the previous year, the firm earned $2.34 earnings per share. The company's quarterly revenue was up 10.9% on a year-over-year basis. On average, equities analysts expect that Casey's General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey's General Stores Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be issued a dividend of $0.57 per share. This is a boost from Casey's General Stores's previous quarterly dividend of $0.50. This represents a $2.28 dividend on an annualized basis and a yield of 0.52%. Casey's General Stores's dividend payout ratio (DPR) is currently 13.94%.

Insider Activity

In related news, Director Mike Spanos bought 256 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The stock was bought 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 approximately $1,310,652.24. The trade was a 8.26% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction of $109,252.50. Following the completion of the sale, the insider now owns 2,443 shares in the company, valued at approximately $1,067,615.43. The trade was a 9.28% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.56% of the company's stock.

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.