JPMorgan Chase & Co. Reduces Position in Casey’s General Stores, Inc. (NASDAQ:CASY)

JPMorgan Chase & Co. decreased its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 3.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 729,798 shares of the company’s stock after selling 29,006 shares during the period. JPMorgan Chase & Co. owned 1.97% of Casey’s General Stores worth $289,168,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in shares of Casey’s General Stores in the 4th quarter valued at $236,500,000. Franklin Resources Inc. increased its stake in Casey’s General Stores by 49.9% in the third quarter. Franklin Resources Inc. now owns 524,237 shares of the company’s stock valued at $204,861,000 after purchasing an additional 174,586 shares during the period. Benjamin Edwards Inc. raised its holdings in shares of Casey’s General Stores by 1,819.1% in the third quarter. Benjamin Edwards Inc. now owns 130,291 shares of the company’s stock valued at $48,959,000 after buying an additional 123,502 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Casey’s General Stores by 281.4% during the third quarter. Wellington Management Group LLP now owns 164,656 shares of the company’s stock worth $61,863,000 after buying an additional 121,488 shares during the period. Finally, Proficio Capital Partners LLC purchased a new position in shares of Casey’s General Stores during the fourth quarter worth about $45,224,000. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Price Performance

CASY stock opened at $432.00 on Monday. The firm has a 50 day moving average of $413.35 and a 200-day moving average of $403.20. The company has a market cap of $16.04 billion, a price-to-earnings ratio of 30.10, a PEG ratio of 2.40 and a beta of 0.87. The company has a current ratio of 0.88, a quick ratio of 0.49 and a debt-to-equity ratio of 0.74. Casey’s General Stores, Inc. has a 12-month low of $306.45 and a 12-month high of $445.17.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Tuesday, March 11th. The company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.57. The firm had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.74 billion. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. Casey’s General Stores’s revenue was up 17.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.33 earnings per share. As a group, equities analysts expect that Casey’s General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey’s General Stores Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be given a $0.50 dividend. The ex-dividend date is Thursday, May 1st. This represents a $2.00 annualized dividend and a dividend yield of 0.46%. Casey’s General Stores’s dividend payout ratio is presently 13.94%.

Insider Activity at Casey’s General Stores

In other Casey’s General Stores news, Director Mike Spanos purchased 256 shares of Casey’s General Stores stock in a transaction on Thursday, March 13th. The shares were bought at an average price of $390.54 per share, with a total value of $99,978.24. Following the completion of the acquisition, the director now directly owns 3,356 shares of the company’s stock, valued at approximately $1,310,652.24. This trade represents a 8.26 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.56% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have commented on the company. Royal Bank of Canada set a $438.00 price objective on Casey’s General Stores and gave the company a “sector perform” rating in a research note on Wednesday, March 12th. Gordon Haskett upgraded Casey’s General Stores from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. StockNews.com lowered shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. BMO Capital Markets reiterated a “market perform” rating and set a $450.00 price target (up from $400.00) on shares of Casey’s General Stores in a research note on Wednesday, December 18th. Finally, Evercore ISI lowered their price objective on Casey’s General Stores from $460.00 to $450.00 and set an “outperform” rating on the stock in a report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $423.09.

Casey’s General Stores 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.