Pinebridge Investments L.P. Boosts Stake in Casey's General Stores, Inc. (NASDAQ:CASY)

Pinebridge Investments L.P. raised its stake in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 42.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,092 shares of the company's stock after purchasing an additional 4,216 shares during the quarter. Pinebridge Investments L.P.'s holdings in Casey's General Stores were worth $5,584,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. HighPoint Advisor Group LLC raised its position 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 valued at $628,000 after buying an additional 25 shares during the last quarter. Dark Forest Capital Management LP raised its holdings in shares of Casey's General Stores by 3.2% in the fourth quarter. Dark Forest Capital Management LP now owns 902 shares of the company's stock valued at $357,000 after purchasing an additional 28 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of Casey's General Stores by 24.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 149 shares of the company's stock valued at $59,000 after purchasing an additional 29 shares in the last quarter. Harbour Investments Inc. lifted its position in shares of Casey's General Stores by 3.1% during the fourth quarter. Harbour Investments Inc. now owns 1,002 shares of the company's stock valued at $397,000 after purchasing an additional 30 shares in the last quarter. Finally, Laidlaw Wealth Management LLC boosted its holdings 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 purchasing an additional 32 shares during the last quarter. Institutional investors own 85.63% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on CASY shares. KeyCorp initiated coverage on shares of Casey's General Stores in a research report on Friday, April 11th. They set an "overweight" rating and a $500.00 target price on the stock. Evercore ISI lifted their price target on Casey's General Stores from $450.00 to $460.00 and gave the stock an "outperform" rating in a report on Tuesday, April 1st. StockNews.com downgraded Casey's General Stores from a "buy" rating to a "hold" rating in a research note on Saturday, March 8th. Gordon Haskett upgraded Casey's General Stores from a "hold" rating to a "buy" rating in a research note on Thursday, February 13th. Finally, Stephens raised shares of Casey's General Stores to a "strong-buy" rating in a report on Monday, April 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $430.33.

Casey's General Stores Stock Performance

NASDAQ:CASY traded down $2.75 on Wednesday, reaching $460.65. 55,352 shares of the company's stock were exchanged, compared to its average volume of 285,286. The stock has a fifty day simple moving average of $424.73 and a 200-day simple moving average of $414.43. Casey's General Stores, Inc. has a 52 week low of $313.67 and a 52 week high of $468.88. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.88 and a quick ratio of 0.49. The firm has a market cap of $17.10 billion, a price-to-earnings ratio of 32.10, a P/E/G ratio of 2.40 and a beta of 0.74.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its quarterly earnings data on Tuesday, March 11th. The company reported $2.33 earnings per share for the quarter, beating analysts' consensus estimates of $1.76 by $0.57. The business had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.74 billion. Casey's General Stores had a net margin of 3.57% and a return on equity of 17.17%. Casey's General Stores's revenue was up 17.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.33 EPS. As a group, sell-side analysts predict 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 disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, May 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.43%. Casey's General Stores's payout ratio is 13.94%.

Insider Buying and Selling

In other news, Director Mike Spanos bought 256 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average price of $390.54 per share, with a total value of $99,978.24. Following the acquisition, 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 legal filing with the SEC, which is available through this link. Also, insider Katrina S. Lindsey sold 250 shares of the firm's stock in a transaction 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 completion of the transaction, the insider now directly owns 2,443 shares of the company's stock, valued at approximately $1,067,615.43. The trade was 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 currently owned by 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.