Janus Henderson Group PLC Decreases Stake in Casey’s General Stores, Inc. (NASDAQ:CASY)

Janus Henderson Group PLC reduced its holdings in Casey’s General Stores, Inc. (NASDAQ:CASY) by 5.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 641,205 shares of the company’s stock after selling 35,309 shares during the period. Janus Henderson Group PLC owned approximately 1.73% of Casey’s General Stores worth $254,068,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of CASY. Raymond James Financial Inc. purchased a new position in shares of Casey’s General Stores in the fourth quarter worth about $236,500,000. Norges Bank purchased a new position in Casey’s General Stores during the fourth quarter worth about $175,607,000. Wellington Management Group LLP raised its stake in Casey’s General Stores by 160.1% during the fourth quarter. Wellington Management Group LLP now owns 428,201 shares of the company’s stock worth $169,666,000 after purchasing an additional 263,545 shares during the period. Franklin Resources Inc. raised its stake in Casey’s General Stores by 29.5% during the fourth quarter. Franklin Resources Inc. now owns 678,778 shares of the company’s stock worth $268,952,000 after purchasing an additional 154,541 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Casey’s General Stores by 18.7% during the third quarter. JPMorgan Chase & Co. now owns 758,804 shares of the company’s stock worth $285,090,000 after purchasing an additional 119,350 shares during the period. 85.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on CASY. KeyCorp began coverage on shares of Casey’s General Stores in a research note on Friday, April 11th. They set an “overweight” rating and a $500.00 target price on the stock. 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. Evercore ISI lifted their target price 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. Royal Bank of Canada set a $438.00 price target on shares of Casey’s General Stores and gave the company a “sector perform” rating in a research note on Wednesday, March 12th. Finally, Stephens raised shares of Casey’s General Stores to a “strong-buy” rating in a research note on Monday, April 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $430.33.

Casey’s General Stores Trading Down 1.3%

Shares of CASY stock opened at $446.68 on Monday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.49 and a current ratio of 0.88. The stock has a market capitalization of $16.58 billion, a P/E ratio of 31.13, a price-to-earnings-growth ratio of 2.40 and a beta of 0.70. The company has a 50 day moving average price of $432.29 and a 200 day moving average price of $418.51. Casey’s General Stores, Inc. has a fifty-two week low of $313.89 and a fifty-two week high of $474.97.

Casey’s General Stores (NASDAQ:CASY) last announced 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 firm had revenue of $3.90 billion during 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 business’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.33 earnings per share. Equities research analysts predict 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 will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Thursday, May 1st. Casey’s General Stores’s dividend payout ratio (DPR) is currently 13.94%.

Insider Activity at Casey’s General Stores

In other Casey’s General Stores news, insider Katrina S. Lindsey sold 250 shares of the business’s stock in a transaction that occurred 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 owns 2,443 shares in the company, valued at $1,067,615.43. The trade was a 9.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mike Spanos purchased 256 shares of the stock in a transaction on Thursday, March 13th. The shares were purchased at an average price of $390.54 per share, with a total value of $99,978.24. Following the acquisition, 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 ownership of the stock. The disclosure for this purchase can be found here. Company 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.