WealthPlan Investment Management LLC Reduces Position in Casey’s General Stores, Inc. (NASDAQ:CASY)

WealthPlan Investment Management LLC lowered its stake in Casey’s General Stores, Inc. (NASDAQ:CASY) by 8.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 37,667 shares of the company’s stock after selling 3,456 shares during the period. Casey’s General Stores accounts for approximately 1.5% of WealthPlan Investment Management LLC’s holdings, making the stock its 13th biggest holding. WealthPlan Investment Management LLC owned 0.10% of Casey’s General Stores worth $14,925,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CASY. International Assets Investment Management LLC acquired a new position in Casey’s General Stores in the third quarter valued at about $959,880,000. Franklin Resources Inc. boosted its stake in 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 purchasing an additional 174,586 shares during the period. Benjamin Edwards Inc. grew its holdings in shares of Casey’s General Stores by 1,819.1% during the third quarter. Benjamin Edwards Inc. now owns 130,291 shares of the company’s stock worth $48,959,000 after buying an additional 123,502 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Casey’s General Stores by 281.4% in the third quarter. Wellington Management Group LLP now owns 164,656 shares of the company’s stock valued at $61,863,000 after purchasing an additional 121,488 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position 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 worth $285,090,000 after buying an additional 119,350 shares in the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CASY shares. Royal Bank of Canada lifted their price objective on shares of Casey’s General Stores from $403.00 to $428.00 and gave the company a “sector perform” rating in a research report on Tuesday, December 10th. BMO Capital Markets restated a “market perform” rating and issued a $450.00 price target (up from $400.00) on shares of Casey’s General Stores in a research note on Wednesday, December 18th. Evercore ISI increased their target price on Casey’s General Stores from $460.00 to $470.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Deutsche Bank Aktiengesellschaft upped their target price on Casey’s General Stores from $451.00 to $454.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, StockNews.com lowered shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a report on Monday, February 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Casey’s General Stores presently has a consensus rating of “Moderate Buy” and a consensus target price of $424.00.

Insider Transactions at Casey’s General Stores

In related news, Director Mike Spanos bought 500 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were bought at an average cost of $396.76 per share, with a total value of $198,380.00. Following the acquisition, the director now owns 3,097 shares in the company, valued at $1,228,765.72. This trade represents a 19.25 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Katrina S. Lindsey sold 450 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $427.13, for a total transaction of $192,208.50. Following the sale, the insider now owns 2,247 shares in the company, valued at $959,761.11. The trade was a 16.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.56% of the company’s stock.

Casey’s General Stores Trading Down 2.3 %

Shares of CASY opened at $432.17 on Friday. The stock has a market capitalization of $16.04 billion, a P/E ratio of 30.12, a PEG ratio of 2.48 and a beta of 0.83. Casey’s General Stores, Inc. has a twelve month low of $284.57 and a twelve month high of $445.17. The company has a quick ratio of 0.49, a current ratio of 0.88 and a debt-to-equity ratio of 0.74. The firm has a fifty day simple moving average of $410.19 and a two-hundred day simple moving average of $395.24.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Monday, December 9th. The company reported $4.85 EPS for the quarter, topping the consensus estimate of $4.29 by $0.56. The business had revenue of $3.95 billion during the quarter, compared to analyst estimates of $4.03 billion. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. Casey’s General Stores’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period last year, the business posted $4.24 earnings per share. On average, research analysts anticipate that Casey’s General Stores, Inc. will post 13.94 EPS for the current year.

Casey’s General Stores Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 17th. Stockholders of record on Monday, February 3rd will be paid a $0.50 dividend. The ex-dividend date is Monday, February 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.46%. Casey’s General Stores’s dividend 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.