Diversify Wealth Management LLC Cuts Holdings in Casey’s General Stores, Inc. (NASDAQ:CASY)

Diversify Wealth Management LLC lowered its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 5.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,858 shares of the company’s stock after selling 102 shares during the quarter. Diversify Wealth Management LLC’s holdings in Casey’s General Stores were worth $717,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Intech Investment Management LLC purchased a new stake in Casey’s General Stores during the second quarter valued at about $1,657,000. AE Wealth Management LLC raised its holdings in shares of Casey’s General Stores by 26.6% during the 2nd quarter. AE Wealth Management LLC now owns 941 shares of the company’s stock valued at $359,000 after buying an additional 198 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Casey’s General Stores by 19.1% during the 2nd quarter. Pacer Advisors Inc. now owns 7,650 shares of the company’s stock valued at $2,919,000 after buying an additional 1,225 shares in the last quarter. Sei Investments Co. lifted its position in Casey’s General Stores by 20.1% in the 2nd quarter. Sei Investments Co. now owns 54,234 shares of the company’s stock worth $20,692,000 after buying an additional 9,085 shares during the last quarter. Finally, Gabelli Funds LLC boosted its stake in Casey’s General Stores by 6.7% in the second quarter. Gabelli Funds LLC now owns 8,000 shares of the company’s stock worth $3,052,000 after buying an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Insider Activity

In other Casey’s General Stores news, insider Katrina S. Lindsey sold 450 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $427.13, for a total transaction of $192,208.50. Following the completion of the transaction, the insider now owns 2,247 shares of the company’s stock, valued at approximately $959,761.11. This trade represents a 16.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mike Spanos bought 500 shares of Casey’s General Stores stock in a transaction dated Monday, December 23rd. The stock was acquired at an average cost of $396.76 per share, for a total transaction of $198,380.00. Following the completion of the transaction, the director now directly owns 3,097 shares in the company, valued at approximately $1,228,765.72. This trade represents a 19.25 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.56% of the stock is currently owned by company insiders.

Casey’s General Stores Stock Performance

NASDAQ:CASY opened at $402.41 on Wednesday. The company has a quick ratio of 0.49, a current ratio of 0.88 and a debt-to-equity ratio of 0.74. The firm’s fifty day simple moving average is $407.81 and its 200 day simple moving average is $389.53. The stock has a market cap of $14.94 billion, a P/E ratio of 28.04, a price-to-earnings-growth ratio of 2.23 and a beta of 0.82. Casey’s General Stores, Inc. has a twelve month low of $268.07 and a twelve month high of $439.68.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Monday, December 9th. The company reported $4.85 earnings per share for the quarter, beating analysts’ consensus estimates of $4.29 by $0.56. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. The firm had revenue of $3.95 billion for the quarter, compared to analyst estimates of $4.03 billion. During the same quarter in the previous year, the firm posted $4.24 EPS. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, research analysts predict that Casey’s General Stores, Inc. will post 13.94 EPS for the current year.

Casey’s General Stores Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 17th. Stockholders of record on Monday, February 3rd will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.50%. The ex-dividend date is Monday, February 3rd. Casey’s General Stores’s dividend payout ratio is currently 13.94%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CASY. Gordon Haskett initiated coverage on shares of Casey’s General Stores in a research note on Monday, November 4th. They issued a “hold” rating and a $400.00 price objective for the company. Royal Bank of Canada upped their price target on shares of Casey’s General Stores from $403.00 to $428.00 and gave the company a “sector perform” rating in a research report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft lifted their price objective on Casey’s General Stores from $451.00 to $454.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Evercore ISI increased their target price on Casey’s General Stores from $460.00 to $470.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, StockNews.com downgraded Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $424.00.

About Casey’s General Stores

Casey’s General Stores, Inc engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.