American International Group Inc. Lowers Stock Position in Casey’s General Stores, Inc. (NASDAQ:CASY)

American International Group Inc. lowered its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 4.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 50,385 shares of the company’s stock after selling 2,340 shares during the quarter. American International Group Inc. owned about 0.14% of Casey’s General Stores worth $13,843,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. LexAurum Advisors LLC raised its position in shares of Casey’s General Stores by 3.1% in the 4th quarter. LexAurum Advisors LLC now owns 1,317 shares of the company’s stock worth $362,000 after purchasing an additional 40 shares during the last quarter. AdvisorShares Investments LLC raised its position in shares of Casey’s General Stores by 9.3% in the 4th quarter. AdvisorShares Investments LLC now owns 469 shares of the company’s stock worth $129,000 after purchasing an additional 40 shares during the last quarter. Arbor Capital Management Inc. ADV raised its position in shares of Casey’s General Stores by 0.9% in the 4th quarter. Arbor Capital Management Inc. ADV now owns 4,567 shares of the company’s stock worth $1,261,000 after purchasing an additional 42 shares during the last quarter. Raymond James Trust N.A. raised its position in shares of Casey’s General Stores by 5.0% in the 4th quarter. Raymond James Trust N.A. now owns 1,034 shares of the company’s stock worth $284,000 after purchasing an additional 49 shares during the last quarter. Finally, Islay Capital Management LLC raised its position in shares of Casey’s General Stores by 0.9% in the 4th quarter. Islay Capital Management LLC now owns 5,238 shares of the company’s stock worth $1,439,000 after purchasing an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Stock Performance

Shares of NASDAQ:CASY traded down $4.56 during mid-day trading on Friday, reaching $372.02. 280,810 shares of the company traded hands, compared to its average volume of 328,867. The company’s 50 day moving average price is $327.90 and its 200-day moving average price is $302.44. The firm has a market cap of $13.77 billion, a PE ratio of 27.70, a PEG ratio of 2.70 and a beta of 0.83. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.87 and a quick ratio of 0.42. Casey’s General Stores, Inc. has a 52 week low of $216.95 and a 52 week high of $389.43.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Tuesday, June 11th. The company reported $2.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.64. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.47 billion. Casey’s General Stores had a return on equity of 17.25% and a net margin of 3.38%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.49 EPS. On average, equities analysts expect that Casey’s General Stores, Inc. will post 14.18 EPS for the current fiscal year.

Casey’s General Stores Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 1st will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, August 1st. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.43. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.54%. Casey’s General Stores’s payout ratio is 12.81%.

Analysts Set New Price Targets

CASY has been the subject of several recent analyst reports. BMO Capital Markets lifted their price target on Casey’s General Stores from $305.00 to $400.00 and gave the stock a “market perform” rating in a research report on Thursday. Jefferies Financial Group lifted their price objective on Casey’s General Stores from $342.00 to $445.00 and gave the stock a “buy” rating in a report on Wednesday. Wells Fargo & Company lifted their price objective on Casey’s General Stores from $340.00 to $415.00 and gave the stock an “overweight” rating in a report on Thursday. Benchmark lifted their price objective on Casey’s General Stores from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Thursday. Finally, StockNews.com upgraded Casey’s General Stores from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $380.11.

Casey’s General Stores Profile

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. Its stores offer pizza, donuts, breakfast items, and sandwiches; and tobacco and nicotine products. The company's stores provide soft drinks, energy, water, sports drinks, juices, coffee, and tea and dairy products; beer, wine, and spirits; snacks, candy, packaged bakery, and other food items; ice, ice cream, meals, and appetizers; health and beauty aids, automotive products, electronic accessories, housewares, and pet supplies; and ATM, lotto/lottery, and prepaid cards.