37,149 Shares in Casey’s General Stores, Inc. $CASY Acquired by Riverbridge Partners LLC

Riverbridge Partners LLC bought a new stake in Casey’s General Stores, Inc. (NASDAQ:CASY) in the 3rd quarter, Holdings Channel.com reports. The fund bought 37,149 shares of the company’s stock, valued at approximately $21,001,000.

Other hedge funds also recently bought and sold shares of the company. Franklin Resources Inc. grew its holdings in shares of Casey’s General Stores by 0.3% in the 2nd quarter. Franklin Resources Inc. now owns 708,893 shares of the company’s stock valued at $361,727,000 after buying an additional 2,467 shares during the period. Invesco Ltd. lifted its holdings in Casey’s General Stores by 71.7% during the second quarter. Invesco Ltd. now owns 483,907 shares of the company’s stock worth $246,923,000 after acquiring an additional 202,033 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Casey’s General Stores by 9.1% in the second quarter. Envestnet Asset Management Inc. now owns 448,919 shares of the company’s stock valued at $229,070,000 after acquiring an additional 37,625 shares during the period. Norges Bank bought a new stake in shares of Casey’s General Stores in the second quarter worth about $210,151,000. Finally, Third Point LLC increased its holdings in shares of Casey’s General Stores by 20.0% in the second quarter. Third Point LLC now owns 360,000 shares of the company’s stock worth $183,697,000 after acquiring an additional 60,000 shares in the last quarter. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CASY shares. Royal Bank Of Canada lifted their price objective on Casey’s General Stores from $570.00 to $591.00 and gave the company a “sector perform” rating in a report on Wednesday, December 10th. Zacks Research cut shares of Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a report on Friday, November 21st. Evercore ISI increased their price objective on shares of Casey’s General Stores from $585.00 to $610.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 2nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Casey’s General Stores in a research report on Monday, December 15th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $530.00 target price on shares of Casey’s General Stores in a research note on Wednesday, December 10th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $585.67.

Insider Buying and Selling at Casey’s General Stores

In other news, insider Chad Michael Frazell sold 3,487 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $555.40, for a total transaction of $1,936,679.80. Following the sale, the insider owned 7,993 shares in the company, valued at $4,439,312.20. This represents a 30.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.54% of the stock is owned by company insiders.

Casey’s General Stores Stock Performance

Shares of CASY stock opened at $558.49 on Monday. Casey’s General Stores, Inc. has a 12 month low of $372.08 and a 12 month high of $573.76. The company’s fifty day simple moving average is $547.41 and its 200-day simple moving average is $529.81. The firm has a market cap of $20.70 billion, a PE ratio of 34.35 and a beta of 0.65. The company has a quick ratio of 0.65, a current ratio of 1.05 and a debt-to-equity ratio of 0.62.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Tuesday, December 9th. The company reported $5.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.92 by $0.61. Casey’s General Stores had a net margin of 3.58% and a return on equity of 16.89%. The firm had revenue of $4.51 billion for the quarter, compared to analyst estimates of $4.51 billion. During the same period in the previous year, the business earned $4.85 EPS. The company’s revenue was up 14.2% compared to the same quarter last year. Equities research analysts expect that Casey’s General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey’s General Stores Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Sunday, February 1st will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Friday, January 30th. Casey’s General Stores’s dividend payout ratio (DPR) is currently 14.02%.

Casey’s General Stores Company 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.