Morgan Stanley reduced its stake in Caseys General Stores, Inc. (NASDAQ:CASY) by 39.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,813 shares of the company’s stock after selling 77,677 shares during the period. Morgan Stanley owned 0.30% of Caseys General Stores worth $13,112,000 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. Advisory Services Network LLC purchased a new position in Caseys General Stores during the first quarter worth approximately $115,000. Numeric Investors LLC purchased a new position in Caseys General Stores during the fourth quarter worth approximately $214,000. State of Alaska Department of Revenue increased its position in Caseys General Stores by 5.1% in the first quarter. State of Alaska Department of Revenue now owns 2,411 shares of the company’s stock worth $270,000 after buying an additional 117 shares during the period. Neuberger Berman Group LLC purchased a new position in Caseys General Stores during the first quarter worth approximately $275,000. Finally, First Bank & Trust increased its position in Caseys General Stores by 10.7% in the first quarter. First Bank & Trust now owns 2,496 shares of the company’s stock worth $280,000 after buying an additional 241 shares during the period. 98.60% of the stock is currently owned by institutional investors.
Caseys General Stores, Inc. (NASDAQ:CASY) traded up 0.43% during midday trading on Wednesday, hitting $104.82. 383,465 shares of the company traded hands. Caseys General Stores, Inc. has a 12-month low of $101.89 and a 12-month high of $135.68. The firm has a market capitalization of $4.04 billion, a PE ratio of 23.40 and a beta of 0.48. The stock’s 50-day moving average is $106.15 and its 200-day moving average is $111.14.
Caseys General Stores (NASDAQ:CASY) last announced its earnings results on Monday, June 5th. The company reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by $0.09. The company had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.88 billion. Caseys General Stores had a net margin of 2.36% and a return on equity of 14.93%. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.19 earnings per share. Analysts anticipate that Caseys General Stores, Inc. will post $4.54 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 1st were given a dividend of $0.26 per share. This is a boost from Caseys General Stores’s previous quarterly dividend of $0.24. This represents a $1.04 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date was Friday, July 28th. Caseys General Stores’s dividend payout ratio (DPR) is presently 23.21%.
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A number of equities analysts have commented on the company. BMO Capital Markets set a $110.00 target price on Caseys General Stores and gave the stock a “market perform” rating in a report on Wednesday, June 7th. Barclays PLC dropped their target price on Caseys General Stores from $116.00 to $100.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 7th. Jefferies Group LLC set a $139.00 target price on Caseys General Stores and gave the stock a “buy” rating in a report on Saturday, July 22nd. Royal Bank Of Canada restated a “sector perform” rating and issued a $121.00 price target (down previously from $123.00) on shares of Caseys General Stores in a research report on Monday, May 29th. Finally, Zacks Investment Research upgraded shares of Caseys General Stores from a “sell” rating to a “hold” rating in a research report on Monday. Eight analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Caseys General Stores has an average rating of “Hold” and a consensus target price of $116.29.
In other news, SVP John C. Soupene sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $106.52, for a total value of $106,520.00. Following the transaction, the senior vice president now owns 1,253 shares in the company, valued at $133,469.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is currently owned by company insiders.
About Caseys General Stores
Casey’s General Stores, Inc and its subsidiaries, operate convenience stores under the name Casey’s General Store in approximately 10 Midwestern states, in Iowa, Missouri, and Illinois. The Company also operates approximately two stores selling primarily tobacco products. The stores carry a range of food, including freshly prepared foods such as pizza, donuts, and sandwiches, beverages, tobacco products, health and beauty aids, automotive products and other nonfood items.
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