Shell Asset Management Co. Decreases Position in Casey’s General Stores, Inc. $CASY

Shell Asset Management Co. decreased its stake in Casey’s General Stores, Inc. (NASDAQ:CASY) by 56.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 798 shares of the company’s stock after selling 1,050 shares during the period. Shell Asset Management Co.’s holdings in Casey’s General Stores were worth $451,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. NewEdge Advisors LLC lifted its position in Casey’s General Stores by 6.4% in the first quarter. NewEdge Advisors LLC now owns 1,871 shares of the company’s stock valued at $812,000 after acquiring an additional 113 shares during the last quarter. Geneos Wealth Management Inc. increased its position in shares of Casey’s General Stores by 129.6% during the first quarter. Geneos Wealth Management Inc. now owns 186 shares of the company’s stock worth $81,000 after purchasing an additional 105 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Casey’s General Stores by 1.0% during the second quarter. Nordea Investment Management AB now owns 18,504 shares of the company’s stock worth $9,294,000 after purchasing an additional 182 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Casey’s General Stores in the 2nd quarter valued at about $1,951,000. Finally, International Assets Investment Management LLC boosted its position in shares of Casey’s General Stores by 23.9% in the 2nd quarter. International Assets Investment Management LLC now owns 627 shares of the company’s stock valued at $320,000 after purchasing an additional 121 shares during the period. 85.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the company. Evercore lifted their price target on Casey’s General Stores from $585.00 to $610.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 2nd. KeyCorp restated an “overweight” rating and set a $700.00 target price on shares of Casey’s General Stores in a research report on Thursday, February 12th. Zacks Research raised shares of Casey’s General Stores from a “hold” rating to a “strong-buy” rating in a report on Monday, January 12th. Northcoast Research cut shares of Casey’s General Stores from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 21st. Finally, Bank of America began coverage on shares of Casey’s General Stores in a research report on Friday, January 9th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $615.50.

Insider Buying and Selling

In related news, Director Moats Maria Castanon acquired 300 shares of the company’s stock in a transaction dated Monday, January 5th. The stock was bought at an average price of $554.66 per share, with a total value of $166,398.00. Following the purchase, the director directly owned 803 shares in the company, valued at $445,391.98. The trade was a 59.64% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.54% of the company’s stock.

Casey’s General Stores Price Performance

Casey’s General Stores stock opened at $661.53 on Wednesday. The company has a market cap of $24.52 billion, a P/E ratio of 40.68, a price-to-earnings-growth ratio of 2.35 and a beta of 0.68. Casey’s General Stores, Inc. has a one year low of $372.08 and a one year high of $678.67. The business has a fifty day moving average of $601.13 and a two-hundred day moving average of $560.09. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.65 and a current ratio of 1.05.

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

Casey’s General Stores Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Sunday, February 1st were paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Friday, January 30th. Casey’s General Stores’s payout ratio is presently 14.02%.

Casey’s General Stores Company Profile

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.