Congress Asset Management Co. Sells 4,614 Shares of Casey’s General Stores, Inc. (NASDAQ:CASY)

Congress Asset Management Co. decreased its holdings in Casey’s General Stores, Inc. (NASDAQ:CASY) by 1.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 380,268 shares of the company’s stock after selling 4,614 shares during the period. Casey’s General Stores makes up 1.0% of Congress Asset Management Co.’s investment portfolio, making the stock its 26th largest position. Congress Asset Management Co.’s holdings in Casey’s General Stores were worth $142,871,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Park Place Capital Corp bought a new stake in shares of Casey’s General Stores during the 2nd quarter valued at $31,000. Advisors Asset Management Inc. purchased a new position in Casey’s General Stores during the 1st quarter valued at about $32,000. Innealta Capital LLC bought a new stake in shares of Casey’s General Stores during the second quarter valued at about $32,000. Bank & Trust Co purchased a new stake in shares of Casey’s General Stores in the second quarter worth about $40,000. Finally, V Square Quantitative Management LLC lifted its holdings in shares of Casey’s General Stores by 22.5% in the third quarter. V Square Quantitative Management LLC now owns 158 shares of the company’s stock worth $59,000 after buying an additional 29 shares in the last quarter. 85.63% of the stock is owned by institutional investors.

Casey’s General Stores Trading Down 0.3 %

NASDAQ:CASY traded down $1.21 during trading hours on Thursday, hitting $397.10. The company had a trading volume of 16,012 shares, compared to its average volume of 269,907. Casey’s General Stores, Inc. has a 52 week low of $266.56 and a 52 week high of $401.17. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.84 and a quick ratio of 0.44. The stock has a 50-day moving average price of $377.61 and a 200 day moving average price of $362.04. The company has a market capitalization of $14.74 billion, a PE ratio of 28.99 and a beta of 0.80.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Wednesday, September 4th. The company reported $4.83 EPS for the quarter, beating analysts’ consensus estimates of $4.54 by $0.29. Casey’s General Stores had a net margin of 3.40% and a return on equity of 17.07%. The firm had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter in the previous year, the business posted $4.52 EPS. The company’s quarterly revenue was up 5.9% on a year-over-year basis. On average, equities research analysts predict that Casey’s General Stores, Inc. will post 14.01 EPS for the current fiscal year.

Casey’s General Stores Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be given a dividend of $0.50 per share. The ex-dividend date is Friday, November 1st. This represents a $2.00 dividend on an annualized basis and a yield of 0.50%. Casey’s General Stores’s dividend payout ratio (DPR) is 14.56%.

Insider Activity at Casey’s General Stores

In other Casey’s General Stores news, CEO Darren M. Rebelez sold 13,500 shares of Casey’s General Stores stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $374.54, for a total value of $5,056,290.00. Following the completion of the sale, the chief executive officer now owns 73,838 shares of the company’s stock, valued at approximately $27,655,284.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Darren M. Rebelez sold 13,500 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $374.54, for a total transaction of $5,056,290.00. Following the completion of the sale, the chief executive officer now owns 73,838 shares of the company’s stock, valued at $27,655,284.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Thomas P. Brennan, Jr. sold 3,000 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $380.24, for a total value of $1,140,720.00. Following the sale, the insider now directly owns 9,044 shares of the company’s stock, valued at $3,438,890.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.56% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Wells Fargo & Company boosted their price target on shares of Casey’s General Stores from $415.00 to $425.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Melius Research assumed coverage on Casey’s General Stores in a report on Monday, September 23rd. They issued a “buy” rating and a $435.00 price objective for the company. Royal Bank of Canada raised their price objective on Casey’s General Stores from $393.00 to $403.00 and gave the company a “sector perform” rating in a report on Thursday, September 5th. Evercore ISI lifted their price target on shares of Casey’s General Stores from $435.00 to $440.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, Benchmark reaffirmed a “buy” rating and set a $410.00 target price on shares of Casey’s General Stores in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Casey’s General Stores has an average rating of “Moderate Buy” and a consensus target price of $408.09.

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.