Casey’s General Stores, Inc. $CASY Holdings Cut by Fortem Financial Group LLC

Fortem Financial Group LLC decreased its stake in Casey’s General Stores, Inc. (NASDAQ:CASY) by 43.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 759 shares of the company’s stock after selling 586 shares during the quarter. Fortem Financial Group LLC’s holdings in Casey’s General Stores were worth $419,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Valeo Financial Advisors LLC lifted its position in Casey’s General Stores by 12.3% in the 4th quarter. Valeo Financial Advisors LLC now owns 438 shares of the company’s stock worth $242,000 after buying an additional 48 shares in the last quarter. Swiss Life Asset Management Ltd raised its holdings in shares of Casey’s General Stores by 43.3% during the 4th quarter. Swiss Life Asset Management Ltd now owns 2,480 shares of the company’s stock valued at $1,371,000 after purchasing an additional 749 shares in the last quarter. UNIVEST FINANCIAL Corp raised its holdings in shares of Casey’s General Stores by 4.2% during the 4th quarter. UNIVEST FINANCIAL Corp now owns 9,256 shares of the company’s stock valued at $5,116,000 after purchasing an additional 377 shares in the last quarter. NewEdge Wealth LLC bought a new position in shares of Casey’s General Stores during the 4th quarter valued at $284,000. Finally, Denali Advisors LLC raised its holdings in shares of Casey’s General Stores by 262.9% during the 4th quarter. Denali Advisors LLC now owns 7,008 shares of the company’s stock valued at $3,873,000 after purchasing an additional 5,077 shares in the last quarter. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Stock Performance

NASDAQ:CASY opened at $859.49 on Monday. Casey’s General Stores, Inc. has a 1 year low of $430.00 and a 1 year high of $868.08. The firm’s fifty day simple moving average is $729.25 and its 200 day simple moving average is $634.05. The company has a current ratio of 1.04, a quick ratio of 0.64 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $31.77 billion, a PE ratio of 49.34, a PEG ratio of 2.38 and a beta of 0.65.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Monday, March 9th. The company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.94 by $0.55. Casey’s General Stores had a net margin of 3.83% and a return on equity of 17.56%. The business had revenue of $3.92 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same period last year, the business posted $2.33 EPS. Casey’s General Stores’s revenue was up .3% compared to the same quarter last year. On average, sell-side analysts anticipate that Casey’s General Stores, Inc. will post 18.24 EPS for the current year.

Casey’s General Stores Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 1st will be paid a $0.57 dividend. The ex-dividend date is Friday, May 1st. This represents a $2.28 dividend on an annualized basis and a yield of 0.3%. Casey’s General Stores’s dividend payout ratio (DPR) is presently 13.09%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CASY. Stephens restated an “overweight” rating and set a $680.00 price target on shares of Casey’s General Stores in a report on Tuesday, March 10th. Zacks Research upgraded shares of Casey’s General Stores from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 23rd. Northcoast Research downgraded shares of Casey’s General Stores from a “buy” rating to a “neutral” rating in a report on Wednesday, January 21st. The Goldman Sachs Group raised their price target on shares of Casey’s General Stores from $530.00 to $605.00 and gave the company a “neutral” rating in a report on Wednesday, March 11th. Finally, BMO Capital Markets restated a “market perform” rating and set a $700.00 price target on shares of Casey’s General Stores in a report on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $725.09.

Insiders Place Their Bets

In other news, Director Mike Spanos bought 300 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were acquired at an average cost of $665.43 per share, for a total transaction of $199,629.00. Following the purchase, the director owned 4,499 shares of the company’s stock, valued at $2,993,769.57. This represents a 7.14% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Katrina S. Lindsey sold 200 shares of the firm’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $683.04, for a total transaction of $136,608.00. Following the completion of the transaction, the insider owned 4,039 shares in the company, valued at $2,758,798.56. The trade was a 4.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.54% of the company’s stock.

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.