Principal Financial Group Inc. Sells 8,776 Shares of Casey’s General Stores, Inc. $CASY

Principal Financial Group Inc. lowered its position in Casey’s General Stores, Inc. (NASDAQ:CASY) by 3.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 253,078 shares of the company’s stock after selling 8,776 shares during the quarter. Principal Financial Group Inc.’s holdings in Casey’s General Stores were worth $143,070,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. NewEdge Advisors LLC lifted its holdings in shares of Casey’s General Stores by 6.4% in the 1st quarter. NewEdge Advisors LLC now owns 1,871 shares of the company’s stock worth $812,000 after buying an additional 113 shares during the period. Geneos Wealth Management Inc. increased its position in Casey’s General Stores by 129.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 186 shares of the company’s stock valued at $81,000 after purchasing an additional 105 shares during the period. QRG Capital Management Inc. increased its position in Casey’s General Stores by 78.7% during the 2nd quarter. QRG Capital Management Inc. now owns 1,837 shares of the company’s stock valued at $937,000 after purchasing an additional 809 shares during the period. Checchi Capital Advisers LLC bought a new stake in shares of Casey’s General Stores in the 2nd quarter valued at about $202,000. Finally, Knights of Columbus Asset Advisors LLC lifted its position in shares of Casey’s General Stores by 7.6% in the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 8,749 shares of the company’s stock worth $4,464,000 after purchasing an additional 618 shares during the period. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. BNP Paribas Exane began coverage on shares of Casey’s General Stores in a report on Tuesday, January 20th. They set an “outperform” rating and a $730.00 price objective on the stock. Wells Fargo & Company lifted their price target on Casey’s General Stores from $610.00 to $625.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. Exane BNP Paribas began coverage on Casey’s General Stores in a research report on Tuesday, January 20th. They issued an “outperform” rating for the company. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $662.00 price objective on shares of Casey’s General Stores in a research report on Friday, January 23rd. Finally, Wall Street Zen lowered Casey’s General Stores from a “buy” rating to a “hold” rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $624.09.

Casey’s General Stores Stock Up 3.2%

Casey’s General Stores stock opened at $625.86 on Tuesday. Casey’s General Stores, Inc. has a 1-year low of $372.08 and a 1-year high of $647.99. The business has a fifty day moving average price of $581.30 and a 200-day moving average price of $549.69. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.05 and a quick ratio of 0.65. The stock has a market capitalization of $23.20 billion, a price-to-earnings ratio of 38.49, a PEG ratio of 2.14 and a beta of 0.67.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Tuesday, December 9th. The company reported $5.53 EPS for the quarter, beating analysts’ consensus estimates of $4.92 by $0.61. The company had revenue of $4.51 billion during the quarter, compared to analysts’ expectations of $4.51 billion. Casey’s General Stores had a return on equity of 16.89% and a net margin of 3.58%.The firm’s revenue was up 14.2% compared to the same quarter last year. During the same period last year, the business posted $4.85 earnings per share. Equities research analysts forecast that Casey’s General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey’s General Stores Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Sunday, February 1st will be paid a $0.57 dividend. The ex-dividend date is Friday, January 30th. This represents a $2.28 dividend on an annualized basis and a yield of 0.4%. Casey’s General Stores’s dividend payout ratio (DPR) is 14.02%.

Insiders Place Their Bets

In related news, Director Moats Maria Castanon purchased 300 shares of the business’s stock in a transaction on Monday, January 5th. The shares were acquired at an average price of $554.66 per share, for a total transaction of $166,398.00. Following the purchase, the director owned 803 shares of the company’s stock, valued at $445,391.98. This trade represents a 59.64% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.54% of the company’s stock.

About Casey’s General Stores

Casey’s General Stores, Inc (NASDAQ: CASY) is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.