Casey’s General Stores, Inc. (NASDAQ:CASY) Shares Sold by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. cut its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 1.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,402 shares of the company’s stock after selling 150 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Casey’s General Stores were worth $6,103,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Casey’s General Stores by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 3,799,104 shares of the company’s stock worth $1,505,319,000 after purchasing an additional 44,295 shares during the period. JPMorgan Chase & Co. grew its stake in Casey’s General Stores by 18.7% during the third 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 during the period. Franklin Resources Inc. grew its stake in Casey’s General Stores by 29.5% during the fourth quarter. Franklin Resources Inc. now owns 678,778 shares of the company’s stock worth $268,952,000 after buying an additional 154,541 shares during the period. Geode Capital Management LLC increased its position in shares of Casey’s General Stores by 1.3% in the third quarter. Geode Capital Management LLC now owns 655,488 shares of the company’s stock worth $246,335,000 after acquiring an additional 8,428 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Casey’s General Stores in the 4th quarter valued at $236,500,000. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Casey’s General Stores Stock Performance

Casey’s General Stores stock opened at $457.25 on Friday. Casey’s General Stores, Inc. has a 52 week low of $306.60 and a 52 week high of $459.46. The company has a current ratio of 0.88, a quick ratio of 0.49 and a debt-to-equity ratio of 0.74. The stock has a market cap of $16.97 billion, a P/E ratio of 31.86, a price-to-earnings-growth ratio of 2.40 and a beta of 0.74. The stock has a 50 day moving average of $418.43 and a 200-day moving average of $407.75.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Tuesday, March 11th. The company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.57. The firm had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.74 billion. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. The firm’s revenue was up 17.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.33 EPS. On average, analysts expect that Casey’s General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey’s General Stores Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Thursday, May 1st. Casey’s General Stores’s dividend payout ratio is currently 13.94%.

Insider Buying and Selling at Casey’s General Stores

In other Casey’s General Stores news, Director Mike Spanos purchased 256 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was acquired at an average cost of $390.54 per share, with a total value of $99,978.24. Following the acquisition, the director now owns 3,356 shares of the company’s stock, valued at approximately $1,310,652.24. This represents a 8.26 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Katrina S. Lindsey sold 250 shares of the business’s stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $437.01, for a total transaction of $109,252.50. Following the sale, the insider now directly owns 2,443 shares of the company’s stock, valued at approximately $1,067,615.43. This represents a 9.28 % decrease in their position. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CASY. Stephens raised shares of Casey’s General Stores to a “strong-buy” rating in a research report on Monday, April 7th. Evercore ISI upped their target price on Casey’s General Stores from $450.00 to $460.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 1st. Gordon Haskett upgraded Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. StockNews.com cut Casey’s General Stores from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. Finally, KeyCorp started coverage on shares of Casey’s General Stores in a research report on Friday. They issued an “overweight” rating and a $500.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $430.33.

Casey’s General Stores 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.