Casey’s General Stores, Inc. $CASY Shares Sold by Riverbridge Partners LLC

Riverbridge Partners LLC trimmed its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 39.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 17,612 shares of the company’s stock after selling 11,449 shares during the quarter. Riverbridge Partners LLC’s holdings in Casey’s General Stores were worth $12,819,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CASY. NewEdge Advisors LLC grew its holdings in shares of Casey’s General Stores by 6.4% in the 1st quarter. NewEdge Advisors LLC now owns 1,871 shares of the company’s stock worth $812,000 after acquiring an additional 113 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Casey’s General Stores by 129.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 186 shares of the company’s stock valued at $81,000 after purchasing an additional 105 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Casey’s General Stores by 431.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company’s stock valued at $111,000 after purchasing an additional 177 shares during the period. Amundi purchased a new position in Casey’s General Stores in the 2nd quarter worth about $338,000. Finally, Jump Financial LLC increased its stake in Casey’s General Stores by 42.6% in the 2nd quarter. Jump Financial LLC now owns 968 shares of the company’s stock worth $494,000 after purchasing an additional 289 shares in the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

Analyst Upgrades and Downgrades

CASY has been the subject of a number of analyst reports. KeyCorp upped their price objective on shares of Casey’s General Stores from $950.00 to $970.00 and gave the company an “overweight” rating in a research note on Thursday, June 11th. Weiss Ratings reissued a “buy (b)” rating on shares of Casey’s General Stores in a research report on Friday, March 27th. Zacks Research lowered shares of Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Wolfe Research restated an “outperform” rating and issued a $1,069.00 price target on shares of Casey’s General Stores in a research report on Thursday, June 11th. Finally, William Blair started coverage on shares of Casey’s General Stores in a research note on Wednesday, May 20th. They issued an “outperform” rating for the company. Eleven investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $923.00.

Casey’s General Stores Stock Up 0.0%

Shares of Casey’s General Stores stock opened at $831.89 on Wednesday. The stock has a 50-day moving average price of $815.33 and a 200 day moving average price of $700.66. The company has a market cap of $30.75 billion, a P/E ratio of 43.42, a P/E/G ratio of 2.52 and a beta of 0.61. The company has a current ratio of 1.01, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59. Casey’s General Stores, Inc. has a 1 year low of $490.00 and a 1 year high of $927.85.

Casey’s General Stores (NASDAQ:CASY) last released its earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, beating the consensus estimate of $3.31 by $1.06. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.The company had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.33 billion. During the same quarter in the previous year, the business posted $2.63 EPS. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, analysts expect that Casey’s General Stores, Inc. will post 20.9 EPS for the current fiscal year.

Casey’s General Stores Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Saturday, August 1st will be issued a dividend of $0.65 per share. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.57. This represents a $2.60 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Friday, July 31st. Casey’s General Stores’s dividend payout ratio is 13.57%.

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.