CoreCap Advisors LLC Lowers Position in Casey’s General Stores, Inc. (NASDAQ:CASY)

CoreCap Advisors LLC cut its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 49.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 217 shares of the company’s stock after selling 210 shares during the quarter. CoreCap Advisors LLC’s holdings in Casey’s General Stores were worth $86,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of CASY. Barclays PLC boosted its holdings in Casey’s General Stores by 110.5% during the 3rd quarter. Barclays PLC now owns 22,487 shares of the company’s stock valued at $8,450,000 after acquiring an additional 11,802 shares during the period. JPMorgan Chase & Co. boosted its holdings in Casey’s General Stores by 18.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 758,804 shares of the company’s stock valued at $285,090,000 after acquiring an additional 119,350 shares during the period. AdvisorNet Financial Inc boosted its holdings in Casey’s General Stores by 10.6% during the 4th quarter. AdvisorNet Financial Inc now owns 395 shares of the company’s stock valued at $157,000 after acquiring an additional 38 shares during the period. Grandview Asset Management LLC purchased a new position in Casey’s General Stores during the 4th quarter valued at about $353,000. Finally, Accurate Wealth Management LLC boosted its holdings in Casey’s General Stores by 21.4% during the 4th quarter. Accurate Wealth Management LLC now owns 703 shares of the company’s stock valued at $271,000 after acquiring an additional 124 shares during the period. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Stephens upgraded Casey’s General Stores to a “strong-buy” rating in a report on Monday, April 7th. Evercore ISI raised their target price on Casey’s General Stores from $450.00 to $460.00 and gave the company an “outperform” rating in a report on Tuesday, April 1st. StockNews.com cut Casey’s General Stores from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. Gordon Haskett upgraded Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Finally, KeyCorp started coverage on Casey’s General Stores in a research report on Friday, April 11th. They issued an “overweight” rating and a $500.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $430.33.

Casey’s General Stores Price Performance

Shares of NASDAQ CASY opened at $432.80 on Wednesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.49 and a current ratio of 0.88. Casey’s General Stores, Inc. has a fifty-two week low of $313.89 and a fifty-two week high of $474.97. The firm has a market capitalization of $16.07 billion, a PE ratio of 30.16, a price-to-earnings-growth ratio of 2.40 and a beta of 0.70. The stock’s 50-day simple moving average is $433.68 and its 200-day simple moving average is $418.93.

Casey’s General Stores (NASDAQ:CASY) last issued its earnings results 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. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. The business had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.74 billion. During the same quarter last year, the company earned $2.33 EPS. The business’s quarterly revenue was up 17.2% on a year-over-year basis. As a group, equities research analysts forecast 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 announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Thursday, May 1st. Casey’s General Stores’s dividend payout ratio (DPR) is presently 13.94%.

Insider Transactions at Casey’s General Stores

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

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.