Casey’s General Stores, Inc. (NASDAQ:CASY) Shares Sold by Arbor Capital Management Inc. ADV

Arbor Capital Management Inc. ADV decreased its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 21.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,096 shares of the company’s stock after selling 853 shares during the quarter. Arbor Capital Management Inc. ADV’s holdings in Casey’s General Stores were worth $1,301,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Soros Capital Management LLC increased its stake in Casey’s General Stores by 1,825.6% during the 3rd quarter. Soros Capital Management LLC now owns 27,632 shares of the company’s stock valued at $10,382,000 after purchasing an additional 26,197 shares in the last quarter. Sanctuary Advisors LLC increased its stake in Casey’s General Stores by 55.6% during the 4th quarter. Sanctuary Advisors LLC now owns 8,579 shares of the company’s stock valued at $3,629,000 after purchasing an additional 3,065 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Casey’s General Stores by 9.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 14,725 shares of the company’s stock valued at $5,532,000 after acquiring an additional 1,332 shares during the last quarter. JLB & Associates Inc. boosted its holdings in shares of Casey’s General Stores by 1.8% in the 4th quarter. JLB & Associates Inc. now owns 43,029 shares of the company’s stock valued at $17,049,000 after acquiring an additional 749 shares during the last quarter. Finally, South Dakota Investment Council boosted its holdings in shares of Casey’s General Stores by 28.0% in the 4th quarter. South Dakota Investment Council now owns 10,065 shares of the company’s stock valued at $3,988,000 after acquiring an additional 2,200 shares during the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Royal Bank of Canada set a $438.00 price objective on shares of Casey’s General Stores and gave the company a “sector perform” rating in a report on Wednesday. Evercore ISI dropped their price objective on shares of Casey’s General Stores from $460.00 to $450.00 and set an “outperform” rating on the stock in a report on Tuesday, March 11th. Gordon Haskett raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. StockNews.com downgraded shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $450.00 price objective (up from $400.00) on shares of Casey’s General Stores in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $423.09.

Casey’s General Stores Stock Performance

NASDAQ:CASY opened at $395.63 on Monday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.49 and a current ratio of 0.88. The company has a fifty day moving average of $409.52 and a two-hundred day moving average of $400.07. The stock has a market capitalization of $14.69 billion, a PE ratio of 27.57, a P/E/G ratio of 2.40 and a beta of 0.87. Casey’s General Stores, Inc. has a fifty-two week low of $303.95 and a fifty-two week high of $445.17.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Tuesday, March 11th. The company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.57. The company had revenue of $3.90 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 17.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.33 earnings per share. As a group, research analysts forecast that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey’s General Stores Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date is Thursday, May 1st. Casey’s General Stores’s dividend payout ratio is presently 13.94%.

Insider Activity

In other Casey’s General Stores news, Director Mike Spanos bought 500 shares of Casey’s General Stores stock in a transaction dated Monday, December 23rd. The stock was acquired at an average cost of $396.76 per share, for a total transaction of $198,380.00. Following the completion of the transaction, the director now directly owns 3,097 shares of the company’s stock, valued at approximately $1,228,765.72. This represents a 19.25 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.56% of the company’s stock.

Casey’s General Stores Company 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.