Riverbridge Partners LLC Has $16.06 Million Stock Position in Casey’s General Stores, Inc. $CASY

Riverbridge Partners LLC lessened its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 21.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,061 shares of the company’s stock after selling 8,088 shares during the period. Riverbridge Partners LLC owned about 0.08% of Casey’s General Stores worth $16,062,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Foster Dykema Cabot & Partners LLC bought a new position in Casey’s General Stores in the third quarter valued at approximately $25,000. Westside Investment Management Inc. boosted its holdings in shares of Casey’s General Stores by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 46 shares of the company’s stock valued at $26,000 after buying an additional 23 shares during the last quarter. True Wealth Design LLC boosted its holdings in shares of Casey’s General Stores by 350.0% in the 4th quarter. True Wealth Design LLC now owns 54 shares of the company’s stock valued at $30,000 after buying an additional 42 shares during the last quarter. Central Pacific Bank Trust Division grew its stake in shares of Casey’s General Stores by 52.8% in the fourth quarter. Central Pacific Bank Trust Division now owns 55 shares of the company’s stock valued at $30,000 after buying an additional 19 shares in the last quarter. Finally, Atlantic Union Bankshares Corp bought a new position in shares of Casey’s General Stores in the third quarter valued at $33,000. 85.63% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Moats Maria Castanon bought 300 shares of the stock in a transaction dated Monday, January 5th. The shares were bought at an average price of $554.66 per share, for a total transaction of $166,398.00. Following the completion of the purchase, the director owned 803 shares in the company, valued at approximately $445,391.98. This trade represents a 59.64% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Katrina S. Lindsey sold 200 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $683.04, for a total value of $136,608.00. Following the completion of the sale, the insider owned 4,039 shares of the company’s stock, valued at $2,758,798.56. This trade represents a 4.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.54% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Zacks Research lowered shares of Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 23rd. Bank of America began coverage on shares of Casey’s General Stores in a research report on Friday, January 9th. They issued a “buy” rating for the company. KeyCorp restated an “overweight” rating and set a $700.00 price objective on shares of Casey’s General Stores in a research note on Thursday, February 12th. Stephens reaffirmed an “overweight” rating and issued a $680.00 target price on shares of Casey’s General Stores in a report on Tuesday, March 10th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Casey’s General Stores in a research note on Monday, December 29th. Eight research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, Casey’s General Stores presently has an average rating of “Moderate Buy” and a consensus price target of $700.09.

Casey’s General Stores Stock Down 0.3%

CASY opened at $711.81 on Friday. Casey’s General Stores, Inc. has a 1-year low of $397.80 and a 1-year high of $721.50. The stock’s fifty day simple moving average is $659.93 and its 200 day simple moving average is $591.28. The company has a current ratio of 1.04, a quick ratio of 0.64 and a debt-to-equity ratio of 0.61. The stock has a market cap of $26.31 billion, a PE ratio of 40.86, a price-to-earnings-growth ratio of 2.33 and a beta of 0.65.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Monday, March 9th. The company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $2.94 by $0.55. The company had revenue of $3.92 billion for the quarter, compared to analyst estimates of $4.08 billion. Casey’s General Stores had a net margin of 3.83% and a return on equity of 17.56%. The company’s revenue was up .3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.33 earnings per share. As a group, research analysts expect that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey’s General Stores Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 1st will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, May 1st. Casey’s General Stores’s payout ratio is currently 13.09%.

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.