Sei Investments Co. Lowers Stake in Casey’s General Stores, Inc. (NASDAQ:CASY)

Sei Investments Co. lessened its stake in Casey’s General Stores, Inc. (NASDAQ:CASY) by 4.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 51,809 shares of the company’s stock after selling 2,595 shares during the period. Sei Investments Co.’s holdings in Casey’s General Stores were worth $20,526,000 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. FMR LLC grew its stake in shares of Casey’s General Stores by 3.8% in the third quarter. FMR LLC now owns 1,046,830 shares of the company’s stock valued at $393,305,000 after buying an additional 38,226 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Casey’s General Stores by 18.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 758,804 shares of the company’s stock valued at $285,090,000 after acquiring an additional 119,350 shares during the period. Geode Capital Management LLC grew its position in Casey’s General Stores by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 655,488 shares of the company’s stock valued at $246,335,000 after acquiring an additional 8,428 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Casey’s General Stores during the fourth quarter worth about $236,500,000. Finally, Franklin Resources Inc. lifted its position 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 in the last quarter. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Insider Activity at Casey’s General Stores

In other Casey’s General Stores news, Director Mike Spanos purchased 256 shares of Casey’s General Stores stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average price of $390.54 per share, for a total transaction of $99,978.24. Following the transaction, the director now directly owns 3,356 shares in the company, valued at $1,310,652.24. This trade represents a 8.26 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.56% of the company’s stock.

Casey’s General Stores Stock Performance

Shares of CASY opened at $426.00 on Thursday. The company has a market capitalization of $15.81 billion, a price-to-earnings ratio of 29.69, a price-to-earnings-growth ratio of 2.40 and a beta of 0.87. Casey’s General Stores, Inc. has a 52-week low of $306.45 and a 52-week high of $445.17. The company has a quick ratio of 0.49, a current ratio of 0.88 and a debt-to-equity ratio of 0.74. The stock has a 50 day moving average price of $411.74 and a 200 day moving average price of $402.14.

Casey’s General Stores (NASDAQ:CASY) last issued its earnings results on Tuesday, March 11th. The company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.57. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. The business had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.74 billion. During the same quarter in the prior year, the business posted $2.33 EPS. The company’s revenue for the quarter was up 17.2% on a year-over-year basis. Research analysts predict 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 announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Thursday, May 1st. Casey’s General Stores’s payout ratio is currently 13.94%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CASY. BMO Capital Markets restated a “market perform” rating and issued a $450.00 price objective (up previously from $400.00) on shares of Casey’s General Stores in a report on Wednesday, December 18th. Evercore ISI dropped their price target on shares of Casey’s General Stores from $460.00 to $450.00 and set an “outperform” rating for the company in a research note on Tuesday, March 11th. StockNews.com cut Casey’s General Stores from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Royal Bank of Canada set a $438.00 target price on Casey’s General Stores and gave the stock a “sector perform” rating in a research note on Wednesday, March 12th. Finally, Gordon Haskett raised Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. One investment 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 an average price target of $423.09.

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.