Foresight Global Investors Inc. Cuts Stake in Casey’s General Stores, Inc. (NASDAQ:CASY)

Foresight Global Investors Inc. reduced its position in Casey’s General Stores, Inc. (NASDAQ:CASY) by 9.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,520 shares of the company’s stock after selling 450 shares during the quarter. Casey’s General Stores makes up about 0.7% of Foresight Global Investors Inc.’s holdings, making the stock its 28th largest position. Foresight Global Investors Inc.’s holdings in Casey’s General Stores were worth $1,242,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. BKM Wealth Management LLC bought a new position in shares of Casey’s General Stores in the fourth quarter worth $29,000. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Casey’s General Stores in the fourth quarter worth about $36,000. Harvest Fund Management Co. Ltd bought a new position in shares of Casey’s General Stores in the third quarter valued at approximately $38,000. Milestone Investment Advisors LLC purchased a new position in Casey’s General Stores during the third quarter valued at approximately $43,000. Finally, SRS Capital Advisors Inc. lifted its stake in Casey’s General Stores by 283.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 165 shares of the company’s stock worth $45,000 after purchasing an additional 122 shares in the last quarter. 85.63% of the stock is owned by hedge funds and other institutional investors.

Casey’s General Stores Trading Up 1.5 %

NASDAQ CASY traded up $5.01 during trading on Thursday, hitting $332.91. 258,070 shares of the company’s stock traded hands, compared to its average volume of 281,529. The firm has a market cap of $12.32 billion, a P/E ratio of 26.07, a PEG ratio of 2.28 and a beta of 0.82. The stock has a fifty day moving average of $312.20 and a two-hundred day moving average of $290.69. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.89 and a quick ratio of 0.42. Casey’s General Stores, Inc. has a 12-month low of $212.50 and a 12-month high of $333.24.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings results on Tuesday, March 12th. The company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.13. The business had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.51 billion. Casey’s General Stores had a return on equity of 16.70% and a net margin of 3.23%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.36 EPS. As a group, sell-side analysts expect that Casey’s General Stores, Inc. will post 12.81 EPS for the current year.

Casey’s General Stores Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend is Tuesday, April 30th. Casey’s General Stores’s dividend payout ratio (DPR) is presently 13.67%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CASY shares. Evercore ISI reduced their price target on shares of Casey’s General Stores from $350.00 to $345.00 and set an “outperform” rating for the company in a research report on Tuesday, April 16th. Benchmark restated a “buy” rating and issued a $312.00 target price on shares of Casey’s General Stores in a research note on Wednesday, March 6th. Wells Fargo & Company boosted their price objective on Casey’s General Stores from $305.00 to $340.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. BMO Capital Markets lifted their target price on shares of Casey’s General Stores from $290.00 to $305.00 and gave the company a “market perform” rating in a research report on Wednesday, March 13th. Finally, StockNews.com cut shares of Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 21st. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $312.63.

Casey’s General Stores Profile

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. Its stores offer pizza, donuts, breakfast items, and sandwiches; and tobacco and nicotine products. The company's stores provide soft drinks, energy, water, sports drinks, juices, coffee, and tea and dairy products; beer, wine, and spirits; snacks, candy, packaged bakery, and other food items; ice, ice cream, meals, and appetizers; health and beauty aids, automotive products, electronic accessories, housewares, and pet supplies; and ATM, lotto/lottery, and prepaid cards.