Kennebec Savings Bank Sells 46 Shares of Casey’s General Stores, Inc. (NASDAQ:CASY)

Kennebec Savings Bank lowered its holdings in Casey’s General Stores, Inc. (NASDAQ:CASY) by 22.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 155 shares of the company’s stock after selling 46 shares during the period. Kennebec Savings Bank’s holdings in Casey’s General Stores were worth $61,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Creative Planning increased its position in shares of Casey’s General Stores by 12.5% during the second quarter. Creative Planning now owns 8,333 shares of the company’s stock valued at $3,180,000 after buying an additional 923 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Casey’s General Stores by 59.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 820 shares of the company’s stock worth $313,000 after acquiring an additional 305 shares during the period. Quarry LP purchased a new position in shares of Casey’s General Stores during the 2nd quarter worth approximately $72,000. Regal Investment Advisors LLC bought a new position in shares of Casey’s General Stores in the 2nd quarter worth approximately $300,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Casey’s General Stores during the second quarter valued at approximately $3,654,000. 85.63% of the stock is currently owned by institutional investors.

Casey’s General Stores Price Performance

Shares of NASDAQ:CASY opened at $423.06 on Friday. The company has a market capitalization of $15.70 billion, a P/E ratio of 29.48, a P/E/G ratio of 2.39 and a beta of 0.82. Casey’s General Stores, Inc. has a 1-year low of $269.35 and a 1-year high of $439.68. The firm’s 50 day simple moving average is $408.53 and its two-hundred day simple moving average is $391.45. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.88 and a quick ratio of 0.49.

Casey’s General Stores (NASDAQ:CASY) last released 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 company had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $4.03 billion. During the same quarter in the previous year, the company earned $4.24 EPS. Casey’s General Stores’s revenue for the quarter was down 2.9% on a year-over-year basis. Research analysts expect that Casey’s General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey’s General Stores Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 17th. Investors of record on Monday, February 3rd will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, February 3rd. Casey’s General Stores’s dividend payout ratio is currently 13.94%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CASY shares. BMO Capital Markets reiterated a “market perform” rating and issued a $450.00 price target (up from $400.00) on shares of Casey’s General Stores in a research note on Wednesday, December 18th. StockNews.com downgraded shares of Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 13th. Royal Bank of Canada upped their price target on Casey’s General Stores from $403.00 to $428.00 and gave the stock a “sector perform” rating in a research note on Tuesday, December 10th. Evercore ISI lifted their price objective on 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 raised their price target on Casey’s General Stores from $451.00 to $454.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $424.00.

Insider Activity at Casey’s General Stores

In related news, insider Katrina S. Lindsey sold 450 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $427.13, for a total value of $192,208.50. Following the sale, the insider now directly owns 2,247 shares in the company, valued at approximately $959,761.11. The trade was a 16.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mike Spanos acquired 500 shares of Casey’s General Stores stock in a transaction on Monday, December 23rd. The stock was purchased at an average cost of $396.76 per share, for a total transaction of $198,380.00. Following the purchase, the director now owns 3,097 shares in the company, valued at approximately $1,228,765.72. The trade was 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 owned by corporate insiders.

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.