Casey’s General Stores, Inc. $CASY Stock Position Trimmed by Riverbridge Partners LLC

Riverbridge Partners LLC trimmed its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 39.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,612 shares of the company’s stock after selling 11,449 shares during the period. Riverbridge Partners LLC’s holdings in Casey’s General Stores were worth $12,819,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its position in shares of Casey’s General Stores by 179,938.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,659,164 shares of the company’s stock worth $1,469,747,000 after buying an additional 2,657,687 shares during the period. Franklin Resources Inc. increased its position in Casey’s General Stores by 40.9% in the 4th quarter. Franklin Resources Inc. now owns 1,068,682 shares of the company’s stock valued at $590,671,000 after acquiring an additional 310,470 shares during the period. Victory Capital Management Inc. increased its position in Casey’s General Stores by 35.4% in the 3rd quarter. Victory Capital Management Inc. now owns 791,415 shares of the company’s stock valued at $447,403,000 after acquiring an additional 206,777 shares during the period. Geode Capital Management LLC raised its stake in Casey’s General Stores by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 760,438 shares of the company’s stock valued at $420,416,000 after acquiring an additional 52,250 shares in the last quarter. Finally, Invesco Ltd. raised its stake in Casey’s General Stores by 12.6% during the 4th quarter. Invesco Ltd. now owns 572,152 shares of the company’s stock valued at $316,234,000 after acquiring an additional 64,154 shares in the last quarter. Institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Stock Performance

CASY opened at $831.89 on Wednesday. The business has a 50 day moving average price of $815.33 and a two-hundred day moving average price of $700.66. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.60. The company has a market capitalization of $30.75 billion, a price-to-earnings ratio of 43.42, a price-to-earnings-growth ratio of 2.52 and a beta of 0.61. Casey’s General Stores, Inc. has a 1-year low of $490.00 and a 1-year high of $927.85.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $4.33 billion. During the same period last year, the firm earned $2.63 EPS. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. Research analysts predict that Casey’s General Stores, Inc. will post 20.9 EPS for the current fiscal 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 issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, July 31st. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.57. This represents a $2.60 dividend on an annualized basis and a yield of 0.3%. Casey’s General Stores’s dividend payout ratio is presently 13.57%.

Analyst Upgrades and Downgrades

CASY has been the subject of several recent analyst reports. Royal Bank Of Canada increased their price target on Casey’s General Stores from $792.00 to $794.00 and gave the stock a “sector perform” rating in a research note on Wednesday, June 10th. Zacks Research cut shares of Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. Weiss Ratings restated a “buy (b)” rating on shares of Casey’s General Stores in a research note on Friday, March 27th. Stephens set a $975.00 price objective on shares of Casey’s General Stores and gave the stock an “overweight” rating in a report on Friday, June 12th. Finally, Jefferies Financial Group increased their target price on shares of Casey’s General Stores from $700.00 to $780.00 and gave the company a “buy” rating in a research report on Tuesday, March 10th. Eleven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, Casey’s General Stores presently has an average rating of “Moderate Buy” and an average target price of $923.00.

About Casey’s General Stores

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.