Amalgamated Bank Reduces Stake in Casey’s General Stores, Inc. (NASDAQ:CASY)

Amalgamated Bank cut its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 7.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,704 shares of the company’s stock after selling 1,501 shares during the quarter. Amalgamated Bank’s holdings in Casey’s General Stores were worth $7,015,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Franklin Resources Inc. raised its holdings in shares of Casey’s General Stores by 49.9% during the third quarter. Franklin Resources Inc. now owns 524,237 shares of the company’s stock worth $204,861,000 after purchasing an additional 174,586 shares during the last quarter. Benjamin Edwards Inc. grew its position in Casey’s General Stores by 1,819.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 130,291 shares of the company’s stock worth $48,959,000 after purchasing an additional 123,502 shares during the period. Wellington Management Group LLP raised its stake in shares of Casey’s General Stores by 281.4% during the 3rd quarter. Wellington Management Group LLP now owns 164,656 shares of the company’s stock valued at $61,863,000 after buying an additional 121,488 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Casey’s General Stores by 18.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 758,804 shares of the company’s stock valued at $285,090,000 after buying an additional 119,350 shares during the period. Finally, EULAV Asset Management boosted its stake in shares of Casey’s General Stores by 196.3% in the third quarter. EULAV Asset Management now owns 128,000 shares of the company’s stock worth $48,091,000 after buying an additional 84,800 shares during the last quarter. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Casey’s General Stores Trading Down 1.6 %

CASY stock opened at $416.00 on Thursday. Casey’s General Stores, Inc. has a 12-month low of $290.00 and a 12-month high of $445.17. The business’s 50-day moving average is $410.15 and its 200 day moving average is $397.79. 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 $15.44 billion, a price-to-earnings ratio of 28.99, a PEG ratio of 2.40 and a beta of 0.83.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Monday, December 9th. The company reported $4.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.29 by $0.56. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. The firm had revenue of $3.95 billion for the quarter, compared to analyst estimates of $4.03 billion. During the same period in the previous year, the company posted $4.24 earnings per share. The business’s revenue was down 2.9% on a year-over-year basis. On average, sell-side analysts anticipate that Casey’s General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey’s General Stores Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 17th. Stockholders of record on Monday, February 3rd were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, February 3rd. Casey’s General Stores’s payout ratio is 13.94%.

Analysts Set New Price Targets

Several brokerages recently weighed in on CASY. BMO Capital Markets reiterated a “market perform” rating and set a $450.00 price target (up from $400.00) on shares of Casey’s General Stores in a research report on Wednesday, December 18th. StockNews.com upgraded shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. Gordon Haskett raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Royal Bank of Canada lifted their price objective on shares of Casey’s General Stores from $403.00 to $428.00 and gave the company a “sector perform” rating in a report on Tuesday, December 10th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Casey’s General Stores from $451.00 to $454.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Casey’s General Stores presently has an average rating of “Moderate Buy” and a consensus target price of $424.00.

Insider Activity

In other news, Director Mike Spanos purchased 500 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were bought at an average cost of $396.76 per share, for a total transaction of $198,380.00. Following the completion of the purchase, the director now directly owns 3,097 shares of the company’s stock, valued at approximately $1,228,765.72. This trade 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 at this link. Also, insider Katrina S. Lindsey sold 450 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $427.13, for a total transaction of $192,208.50. Following the completion of the transaction, the insider now owns 2,247 shares of the company’s stock, valued at approximately $959,761.11. This trade represents a 16.69 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.56% of the company’s stock.

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.