Ellington Management Group LLC lowered its position in Casey's General Stores Inc (NASDAQ:CASY) by 49.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,200 shares of the company’s stock after selling 10,900 shares during the period. Ellington Management Group LLC’s holdings in Casey's General Stores were worth $1,254,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in CASY. Prime Capital Investment Advisors LLC purchased a new stake in shares of Casey's General Stores in the fourth quarter valued at about $105,000. Amundi Pioneer Asset Management Inc. purchased a new stake in Casey's General Stores during the fourth quarter worth about $133,000. Zions Bancorporation purchased a new stake in Casey's General Stores during the third quarter worth about $164,000. Aristotle Atlantic Partners LLC purchased a new stake in Casey's General Stores during the fourth quarter worth about $204,000. Finally, Franklin Resources Inc. purchased a new stake in Casey's General Stores during the fourth quarter worth about $222,000. Institutional investors own 98.04% of the company’s stock.
A number of research firms recently issued reports on CASY. Royal Bank of Canada restated a “sector perform” rating and set a $118.00 price objective (up previously from $112.00) on shares of Casey's General Stores in a report on Thursday. Jefferies Group restated a “buy” rating and set a $136.00 price objective on shares of Casey's General Stores in a report on Thursday. BMO Capital Markets decreased their price objective on shares of Casey's General Stores from $122.00 to $105.00 and set a “market perform” rating for the company in a report on Friday. Wells Fargo & Co restated a “market perform” rating and set a $116.00 price objective (down previously from $118.00) on shares of Casey's General Stores in a report on Thursday. Finally, Stephens restated a “buy” rating and set a $140.00 price objective on shares of Casey's General Stores in a report on Thursday. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Casey's General Stores has an average rating of “Hold” and an average target price of $123.18.
Casey's General Stores (NASDAQ:CASY) last posted its earnings results on Wednesday, March 7th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.14). The business had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Casey's General Stores had a return on equity of 12.70% and a net margin of 4.03%. Casey's General Stores’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.58 EPS. equities research analysts expect that Casey's General Stores Inc will post 4.08 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Tuesday, May 1st will be paid a $0.26 dividend. The ex-dividend date is Monday, April 30th. This represents a $1.04 annualized dividend and a dividend yield of 0.94%. Casey's General Stores’s payout ratio is 12.12%.
Casey's General Stores declared that its board has authorized a stock repurchase program on Wednesday, March 7th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.
In other Casey's General Stores news, Director Cara Kay Heiden bought 4,000 shares of Casey's General Stores stock in a transaction dated Thursday, March 8th. The stock was purchased at an average price of $109.77 per share, for a total transaction of $439,080.00. Following the completion of the purchase, the director now directly owns 5,043 shares of the company’s stock, valued at $553,570.11. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.30% of the stock is owned by company insiders.
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Casey's General Stores Company Profile
Casey’s General Stores, Inc and its subsidiaries, operate convenience stores under the name Casey’s General Store in approximately 10 Midwestern states, in Iowa, Missouri, and Illinois. The Company also operates approximately two stores selling primarily tobacco products. The stores carry a range of food, including freshly prepared foods such as pizza, donuts, and sandwiches, beverages, tobacco products, health and beauty aids, automotive products and other nonfood items.
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