T. Rowe Price Investment Management Inc. Reduces Stock Holdings in Casey’s General Stores, Inc. $CASY

T. Rowe Price Investment Management Inc. reduced its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 22.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 731,308 shares of the company’s stock after selling 212,338 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 1.97% of Casey’s General Stores worth $404,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Foster Dykema Cabot & Partners LLC acquired a new stake in Casey’s General Stores in the 3rd quarter worth approximately $25,000. True Wealth Design LLC increased its stake in Casey’s General Stores by 350.0% during the 4th quarter. True Wealth Design LLC now owns 54 shares of the company’s stock valued at $30,000 after purchasing an additional 42 shares in the last quarter. Central Pacific Bank Trust Division raised its holdings in shares of 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 buying an additional 19 shares during the last quarter. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Casey’s General Stores in the third quarter worth $35,000. Finally, ORG Partners LLC lifted its stake in shares of Casey’s General Stores by 47.6% during the fourth quarter. ORG Partners LLC now owns 62 shares of the company’s stock worth $34,000 after buying an additional 20 shares during the period. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Casey’s General Stores from $719.00 to $975.00 and gave the company a “neutral” rating in a report on Friday, June 12th. William Blair began coverage on Casey’s General Stores in a research report on Wednesday, May 20th. They set an “outperform” rating for the company. Wall Street Zen upgraded Casey’s General Stores from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Stephens set a $975.00 price objective on Casey’s General Stores and gave the company an “overweight” rating in a report on Friday, June 12th. Finally, Morgan Stanley raised Casey’s General Stores to a “buy” rating in a report on Wednesday, June 10th. Eleven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $925.25.

Casey’s General Stores Stock Down 1.0%

Shares of CASY opened at $842.25 on Friday. The company has a market capitalization of $31.13 billion, a price-to-earnings ratio of 43.96, a PEG ratio of 2.58 and a beta of 0.61. Casey’s General Stores, Inc. has a 52 week low of $490.00 and a 52 week high of $927.85. The stock’s 50-day moving average price is $810.32 and its 200-day moving average price is $694.92. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, beating the consensus estimate of $3.31 by $1.06. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.The company had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.33 billion. During the same period last year, the business earned $2.63 earnings per share. Casey’s General Stores’s quarterly revenue was up 14.5% on a year-over-year basis. On average, sell-side analysts predict that Casey’s General Stores, Inc. will post 20.9 EPS for the current year.

Casey’s General Stores Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Saturday, August 1st will be paid a $0.65 dividend. The ex-dividend date is Friday, July 31st. This represents a $2.60 annualized dividend and a dividend yield of 0.3%. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.57. Casey’s General Stores’s dividend payout ratio (DPR) is presently 11.90%.

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.