Bridgewater Associates LP Sells 9,428 Shares of Casey’s General Stores, Inc. (NASDAQ:CASY)

Bridgewater Associates LP trimmed its position in Casey’s General Stores, Inc. (NASDAQ:CASY) by 58.5% in the fourth quarter, Holdings Channel reports. The fund owned 6,693 shares of the company’s stock after selling 9,428 shares during the quarter. Bridgewater Associates LP’s holdings in Casey’s General Stores were worth $2,652,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Barclays PLC lifted its holdings in shares of Casey’s General Stores by 110.5% during the third quarter. Barclays PLC now owns 22,487 shares of the company’s stock worth $8,450,000 after purchasing an additional 11,802 shares during the period. Synovus Financial Corp lifted its holdings in Casey’s General Stores by 74.4% during the 3rd quarter. Synovus Financial Corp now owns 16,595 shares of the company’s stock worth $6,235,000 after buying an additional 7,078 shares during the period. Franklin Resources Inc. grew its position in shares of Casey’s General Stores by 49.9% in the 3rd quarter. Franklin Resources Inc. now owns 524,237 shares of the company’s stock valued at $204,861,000 after buying an additional 174,586 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new stake in shares of Casey’s General Stores in the third quarter valued at about $899,000. Finally, Logan Capital Management Inc. bought a new position in shares of Casey’s General Stores during the third quarter worth about $2,049,000. Institutional investors and hedge funds own 85.63% of the company’s stock.

Analyst Ratings Changes

CASY has been the topic of several analyst reports. KeyCorp started coverage on Casey’s General Stores in a report on Friday, April 11th. They issued an “overweight” rating and a $500.00 target price on the stock. StockNews.com cut shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Gordon Haskett raised shares of 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 price target on Casey’s General Stores and gave the stock a “sector perform” rating in a report on Wednesday, March 12th. Finally, Evercore ISI lifted their price objective on Casey’s General Stores from $450.00 to $460.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 1st. 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 given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $430.33.

Insiders Place Their Bets

In related news, insider Katrina S. Lindsey sold 250 shares of the firm’s stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $437.01, for a total transaction of $109,252.50. Following the transaction, the insider now directly owns 2,443 shares of the company’s stock, valued at $1,067,615.43. This trade represents a 9.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mike Spanos acquired 256 shares of Casey’s General Stores stock in a transaction on Thursday, March 13th. The stock was purchased at an average cost of $390.54 per share, with a total value of $99,978.24. Following the completion of the transaction, the director now directly owns 3,356 shares in the company, valued at $1,310,652.24. This represents a 8.26 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.56% of the company’s stock.

Casey’s General Stores Trading Up 0.6 %

NASDAQ CASY opened at $460.07 on Friday. The company has a quick ratio of 0.49, a current ratio of 0.88 and a debt-to-equity ratio of 0.74. Casey’s General Stores, Inc. has a 52 week low of $307.01 and a 52 week high of $468.88. The business has a 50 day moving average price of $421.46 and a 200-day moving average price of $410.47. The company has a market cap of $17.08 billion, a price-to-earnings ratio of 32.06, a P/E/G ratio of 2.40 and a beta of 0.74.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings data on Tuesday, March 11th. The company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.57. The firm had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.74 billion. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. The business’s revenue was up 17.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.33 earnings per share. As a group, equities analysts expect that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey’s General Stores Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders 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 yield of 0.43%. Casey’s General Stores’s dividend payout ratio (DPR) is currently 13.94%.

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.