Casey’s General Stores, Inc. (NASDAQ:CASY) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC lowered its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 11.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 838,022 shares of the company’s stock after selling 107,364 shares during the quarter. Clearbridge Investments LLC owned about 2.26% of Casey’s General Stores worth $332,049,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Raymond James Financial Inc. acquired a new position in Casey’s General Stores during the fourth quarter worth approximately $236,500,000. Norges Bank acquired a new stake in shares of Casey’s General Stores during the 4th quarter worth $175,607,000. Franklin Resources Inc. raised its position in shares of Casey’s General Stores by 49.9% in the 3rd quarter. Franklin Resources Inc. now owns 524,237 shares of the company’s stock worth $204,861,000 after buying an additional 174,586 shares during the period. Benjamin Edwards Inc. lifted its stake in shares of Casey’s General Stores by 1,819.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 130,291 shares of the company’s stock valued at $48,959,000 after purchasing an additional 123,502 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in Casey’s General Stores by 281.4% during the third quarter. Wellington Management Group LLP now owns 164,656 shares of the company’s stock valued at $61,863,000 after buying an additional 121,488 shares in the last quarter. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Mike Spanos acquired 256 shares of Casey’s General Stores stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average price of $390.54 per share, for a total transaction of $99,978.24. Following the transaction, the director now directly owns 3,356 shares of the company’s stock, valued at $1,310,652.24. This trade represents a 8.26 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CASY. Royal Bank of Canada set a $438.00 price target on Casey’s General Stores and gave the company a “sector perform” rating in a report on Wednesday, March 12th. BMO Capital Markets reiterated a “market perform” rating and issued a $450.00 target price (up previously from $400.00) on shares of Casey’s General Stores in a research note on Wednesday, December 18th. Evercore ISI reduced their price target on Casey’s General Stores from $460.00 to $450.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 11th. StockNews.com downgraded shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Finally, Gordon Haskett upgraded shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $423.09.

Casey’s General Stores Trading Up 0.3 %

NASDAQ CASY opened at $432.00 on Friday. The company has a market capitalization of $16.04 billion, a price-to-earnings ratio of 30.10, a price-to-earnings-growth ratio of 2.40 and a beta of 0.87. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.88 and a quick ratio of 0.49. Casey’s General Stores, Inc. has a 12 month low of $306.45 and a 12 month high of $445.17. The company’s fifty day moving average price is $413.35 and its two-hundred day moving average price is $402.99.

Casey’s General Stores (NASDAQ:CASY) last released its earnings results on Tuesday, March 11th. The company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.57. The company had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.74 billion. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. Casey’s General Stores’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.33 EPS. As a group, research analysts predict that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey’s General Stores Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $2.00 dividend on an annualized basis and a yield of 0.46%. Casey’s General Stores’s payout ratio is currently 13.94%.

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.