Burney Co. Sells 91 Shares of Casey’s General Stores, Inc. (NASDAQ:CASY)

Burney Co. lessened its holdings in Casey’s General Stores, Inc. (NASDAQ:CASY) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,893 shares of the company’s stock after selling 91 shares during the quarter. Burney Co.’s holdings in Casey’s General Stores were worth $1,939,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Federated Hermes Inc. boosted its holdings in Casey’s General Stores by 6.8% in the 2nd quarter. Federated Hermes Inc. now owns 4,275 shares of the company’s stock valued at $1,631,000 after purchasing an additional 273 shares during the period. Oppenheimer Asset Management Inc. raised its position in shares of Casey’s General Stores by 14.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 6,910 shares of the company’s stock valued at $2,637,000 after buying an additional 875 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Casey’s General Stores by 3.2% in the second quarter. Dimensional Fund Advisors LP now owns 468,650 shares of the company’s stock valued at $178,822,000 after buying an additional 14,750 shares during the period. Quantbot Technologies LP acquired a new stake in Casey’s General Stores during the second quarter worth approximately $2,734,000. Finally, Primecap Management Co. CA bought a new position in Casey’s General Stores during the 2nd quarter worth $24,115,000. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Mike Spanos acquired 500 shares of the business’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 completion of the purchase, the director now directly owns 3,097 shares in the company, valued at $1,228,765.72. The trade was a 19.25 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, insider Katrina S. Lindsey sold 450 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $427.13, for a total value of $192,208.50. Following the completion of 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.

Wall Street Analysts Forecast Growth

CASY has been the subject of a number of recent analyst reports. Royal Bank of Canada upped their target price on 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. StockNews.com cut shares of Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 13th. Evercore ISI raised their target price on shares of Casey’s General Stores from $460.00 to $470.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Melius Research initiated coverage on shares of Casey’s General Stores in a report on Monday, September 23rd. They set a “buy” rating and a $435.00 price target for the company. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $450.00 price objective (up from $400.00) on shares of Casey’s General Stores in a research note on Wednesday, December 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $424.00.

Casey’s General Stores Price Performance

Shares of CASY opened at $391.30 on Thursday. The company has a quick ratio of 0.44, a current ratio of 0.88 and a debt-to-equity ratio of 0.74. The stock has a market cap of $14.52 billion, a PE ratio of 27.27 and a beta of 0.82. Casey’s General Stores, Inc. has a 12-month low of $268.07 and a 12-month high of $439.68. The business has a 50-day simple moving average of $409.72 and a two-hundred day simple moving average of $388.78.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Monday, December 9th. The company reported $4.85 earnings per share for the quarter, topping the consensus estimate of $4.29 by $0.56. The company had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $4.03 billion. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the business posted $4.24 earnings per share. Analysts anticipate that Casey’s General Stores, Inc. will post 14.28 earnings per share for the current fiscal year.

Casey’s General Stores Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 17th. Shareholders of record on Monday, February 3rd will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend is Monday, February 3rd. Casey’s General Stores’s dividend payout ratio (DPR) is currently 13.94%.

About Casey’s General Stores

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.