Legal & General Group Plc Lowers Position in Casey’s General Stores, Inc. $CASY

Legal & General Group Plc cut its holdings in Casey’s General Stores, Inc. (NASDAQ:CASY) by 21.5% in the fourth quarter, Holdings Channel reports. The fund owned 59,893 shares of the company’s stock after selling 16,365 shares during the quarter. Legal & General Group Plc’s holdings in Casey’s General Stores were worth $33,103,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CASY. Foster Dykema Cabot & Partners LLC purchased a new stake in Casey’s General Stores in the third quarter worth about $25,000. Westside Investment Management Inc. lifted its stake in Casey’s General Stores by 100.0% in the third quarter. Westside Investment Management Inc. now owns 46 shares of the company’s stock worth $26,000 after acquiring an additional 23 shares during the period. Central Pacific Bank Trust Division lifted its stake in Casey’s General Stores by 52.8% in the fourth quarter. Central Pacific Bank Trust Division now owns 55 shares of the company’s stock worth $30,000 after acquiring an additional 19 shares during the period. True Wealth Design LLC lifted its stake in Casey’s General Stores by 350.0% in the fourth quarter. True Wealth Design LLC now owns 54 shares of the company’s stock worth $30,000 after acquiring an additional 42 shares during the period. Finally, Atlantic Union Bankshares Corp purchased a new stake in Casey’s General Stores in the third quarter worth about $33,000. 85.63% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Mike Spanos acquired 300 shares of the business’s stock in a transaction dated Friday, March 13th. The shares were purchased at an average price of $665.43 per share, for a total transaction of $199,629.00. Following the completion of the acquisition, the director directly owned 4,499 shares in the company, valued at $2,993,769.57. The trade was a 7.14% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Katrina S. Lindsey sold 200 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $683.04, for a total transaction of $136,608.00. Following the transaction, the insider owned 4,039 shares in the company, valued at approximately $2,758,798.56. This trade represents a 4.72% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.54% of the company’s stock.

Casey’s General Stores Stock Performance

Shares of Casey’s General Stores stock opened at $767.14 on Friday. The company has a market capitalization of $28.35 billion, a PE ratio of 44.04, a P/E/G ratio of 2.12 and a beta of 0.65. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.64 and a current ratio of 1.04. The company has a 50-day simple moving average of $780.50 and a two-hundred day simple moving average of $667.59. Casey’s General Stores, Inc. has a one year low of $433.16 and a one year high of $901.00.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Monday, March 9th. The company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $2.94 by $0.55. The business had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $4.08 billion. Casey’s General Stores had a net margin of 3.83% and a return on equity of 17.56%. The firm’s revenue was up .3% on a year-over-year basis. During the same period in the previous year, the company posted $2.33 earnings per share. Research analysts expect that Casey’s General Stores, Inc. will post 18.19 EPS for the current fiscal year.

Casey’s General Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were issued a dividend of $0.57 per share. The ex-dividend date was Friday, May 1st. This represents a $2.28 annualized dividend and a dividend yield of 0.3%. Casey’s General Stores’s dividend payout ratio is 13.09%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CASY shares. Zacks Research raised shares of Casey’s General Stores from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 23rd. Jefferies Financial Group boosted their target price on shares of Casey’s General Stores from $700.00 to $780.00 and gave the stock a “buy” rating in a report on Tuesday, March 10th. Evercore reiterated an “outperform” rating and issued a $915.00 target price on shares of Casey’s General Stores in a report on Monday, May 18th. UBS Group boosted their target price on shares of Casey’s General Stores from $600.00 to $706.00 and gave the stock a “neutral” rating in a report on Wednesday, March 11th. Finally, Wells Fargo & Company boosted their target price on shares of Casey’s General Stores from $745.00 to $910.00 and gave the stock an “overweight” rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $752.36.

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.