Principal Financial Group Inc. Sells 2,271 Shares of Casey’s General Stores, Inc. (NASDAQ:CASY)

Principal Financial Group Inc. reduced its stake in Casey’s General Stores, Inc. (NASDAQ:CASY) by 0.9% during the 4th quarter, Holdings Channel reports. The fund owned 242,604 shares of the company’s stock after selling 2,271 shares during the period. Principal Financial Group Inc.’s holdings in Casey’s General Stores were worth $96,127,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of CASY. Private Trust Co. NA increased its holdings in shares of Casey’s General Stores by 1.3% during the third quarter. Private Trust Co. NA now owns 2,072 shares of the company’s stock worth $778,000 after purchasing an additional 27 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Casey’s General Stores by 24.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 149 shares of the company’s stock worth $59,000 after purchasing an additional 29 shares during the period. Verus Capital Partners LLC increased its holdings in shares of Casey’s General Stores by 3.1% during the third quarter. Verus Capital Partners LLC now owns 991 shares of the company’s stock worth $372,000 after purchasing an additional 30 shares during the period. CIBC Asset Management Inc increased its holdings in shares of Casey’s General Stores by 3.3% during the third quarter. CIBC Asset Management Inc now owns 1,078 shares of the company’s stock worth $405,000 after purchasing an additional 34 shares during the period. Finally, AdvisorNet Financial Inc increased its holdings in shares of Casey’s General Stores by 10.6% during the fourth quarter. AdvisorNet Financial Inc now owns 395 shares of the company’s stock worth $157,000 after purchasing an additional 38 shares during the period. 85.63% of the stock is owned by institutional investors.

Insider Transactions at Casey’s General Stores

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

Casey’s General Stores Stock Performance

Shares of Casey’s General Stores stock opened at $425.77 on Wednesday. Casey’s General Stores, Inc. has a fifty-two week low of $286.46 and a fifty-two week high of $445.17. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.88 and a quick ratio of 0.49. The firm has a market capitalization of $15.80 billion, a P/E ratio of 29.67, a P/E/G ratio of 2.48 and a beta of 0.83. The company’s 50 day moving average price is $410.65 and its two-hundred day moving average price is $396.07.

Casey’s General Stores (NASDAQ:CASY) last issued 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. The firm had revenue of $3.95 billion for the quarter, compared to analyst estimates of $4.03 billion. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. The company’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the business posted $4.24 earnings per share. On average, equities analysts forecast that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey’s General Stores Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 17th. Stockholders of record on Monday, February 3rd were issued a dividend of $0.50 per share. The ex-dividend date was Monday, February 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.47%. Casey’s General Stores’s dividend payout ratio (DPR) is presently 13.94%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CASY shares. Gordon Haskett raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Royal Bank of Canada lifted their price objective on shares of Casey’s General Stores from $403.00 to $428.00 and gave the company a “sector perform” rating in a research note on Tuesday, December 10th. BMO Capital Markets reissued a “market perform” rating and issued a $450.00 price objective (up from $400.00) on shares of Casey’s General Stores in a research note on Wednesday, December 18th. Evercore ISI lifted their price objective on shares of Casey’s General Stores from $460.00 to $470.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Casey’s General Stores from $451.00 to $454.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $424.00.

Casey’s General Stores Company Profile

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.