Horizon Investments LLC Sells 14,992 Shares of Casey’s General Stores, Inc. $CASY

Horizon Investments LLC cut its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 93.5% in the 4th quarter, Holdings Channel reports. The firm owned 1,038 shares of the company’s stock after selling 14,992 shares during the period. Horizon Investments LLC’s holdings in Casey’s General Stores were worth $574,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CASY. Foster Dykema Cabot & Partners LLC bought a new stake in Casey’s General Stores during the third quarter worth $25,000. Westside Investment Management Inc. lifted its stake in Casey’s General Stores by 100.0% during the third quarter. Westside Investment Management Inc. now owns 46 shares of the company’s stock worth $26,000 after purchasing an additional 23 shares during the last quarter. Central Pacific Bank Trust Division lifted its stake in Casey’s General Stores by 52.8% during the fourth quarter. Central Pacific Bank Trust Division now owns 55 shares of the company’s stock worth $30,000 after purchasing an additional 19 shares during the last quarter. True Wealth Design LLC lifted its stake in Casey’s General Stores by 350.0% during the fourth quarter. True Wealth Design LLC now owns 54 shares of the company’s stock worth $30,000 after purchasing an additional 42 shares during the last quarter. Finally, Atlantic Union Bankshares Corp bought a new stake in Casey’s General Stores during the third quarter worth $33,000. 85.63% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. KeyCorp upped their target price on Casey’s General Stores from $830.00 to $860.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. Wells Fargo & Company upped their target price on Casey’s General Stores from $725.00 to $745.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 10th. Northcoast Research cut Casey’s General Stores from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 21st. UBS Group increased their price target on Casey’s General Stores from $600.00 to $706.00 and gave the company a “neutral” rating in a research note on Wednesday, March 11th. Finally, Stephens reiterated an “overweight” rating and issued a $680.00 price target on shares of Casey’s General Stores in a research note on Tuesday, March 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Casey’s General Stores has a consensus rating of “Moderate Buy” and an average price target of $725.09.

Insiders Place Their Bets

In related news, Director Mike Spanos acquired 300 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The stock was acquired at an average cost of $665.43 per share, for a total transaction of $199,629.00. Following the completion of the acquisition, the director directly owned 4,499 shares of the company’s stock, valued at approximately $2,993,769.57. This trade represents a 7.14% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Katrina S. Lindsey sold 200 shares of the stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $683.04, for a total value of $136,608.00. Following the completion of the sale, the insider owned 4,039 shares of the company’s stock, valued at $2,758,798.56. The trade was a 4.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.54% of the company’s stock.

Casey’s General Stores Stock Up 1.0%

Shares of CASY opened at $859.49 on Friday. Casey’s General Stores, Inc. has a 52 week low of $430.00 and a 52 week high of $868.08. The stock has a market capitalization of $31.77 billion, a price-to-earnings ratio of 49.34, a PEG ratio of 2.38 and a beta of 0.65. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.64 and a current ratio of 1.04. The stock has a fifty day moving average of $729.25 and a 200-day moving average of $634.05.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings results on Monday, March 9th. The company reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $2.94 by $0.55. Casey’s General Stores had a return on equity of 17.56% and a net margin of 3.83%.The company had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same period in the prior year, the company earned $2.33 EPS. Casey’s General Stores’s revenue was up .3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Casey’s General Stores, Inc. will post 18.24 earnings per share for the current fiscal year.

Casey’s General Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 1st will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, May 1st. Casey’s General Stores’s dividend payout ratio is presently 13.09%.

Casey’s General Stores Profile

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.