Gateway Investment Advisers LLC Sells 17,658 Shares of Casey’s General Stores, Inc. (NASDAQ:CASY)

Gateway Investment Advisers LLC reduced its stake in Casey’s General Stores, Inc. (NASDAQ:CASY) by 65.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,416 shares of the company’s stock after selling 17,658 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Casey’s General Stores were worth $3,731,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Private Trust Co. NA boosted its position in 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 valued at $778,000 after acquiring an additional 27 shares during the last quarter. V Square Quantitative Management LLC grew its stake in shares of Casey’s General Stores by 22.5% in the 3rd quarter. V Square Quantitative Management LLC now owns 158 shares of the company’s stock valued at $59,000 after buying an additional 29 shares during the period. Verus Capital Partners LLC increased its position in Casey’s General Stores by 3.1% in the 3rd quarter. Verus Capital Partners LLC now owns 991 shares of the company’s stock valued at $372,000 after buying an additional 30 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in Casey’s General Stores by 3.3% in the third quarter. CIBC Asset Management Inc now owns 1,078 shares of the company’s stock worth $405,000 after acquiring an additional 34 shares in the last quarter. Finally, AdvisorNet Financial Inc grew its stake in Casey’s General Stores by 10.6% in the fourth quarter. AdvisorNet Financial Inc now owns 395 shares of the company’s stock valued at $157,000 after acquiring an additional 38 shares during the period. Institutional investors and hedge funds own 85.63% of the company’s stock.

Casey’s General Stores Stock Up 0.1 %

CASY opened at $391.51 on Friday. 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 stock has a market cap of $14.53 billion, a price-to-earnings ratio of 27.28, a PEG ratio of 2.20 and a beta of 0.82. The company’s 50-day moving average price is $408.49 and its two-hundred day moving average price is $388.91. 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 issued its quarterly earnings results on Monday, December 9th. The company reported $4.85 EPS for the quarter, beating analysts’ consensus estimates of $4.29 by $0.56. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. The firm had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $4.03 billion. During the same quarter in the prior year, the firm earned $4.24 EPS. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, equities 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 firm also recently announced a quarterly dividend, which will be paid on Monday, February 17th. Stockholders of record on Monday, February 3rd will be paid a $0.50 dividend. The ex-dividend date is Monday, February 3rd. This represents a $2.00 annualized dividend and a dividend yield of 0.51%. Casey’s General Stores’s payout ratio is 13.94%.

Insider Activity

In related news, insider Katrina S. Lindsey sold 450 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 2,247 shares of the company’s stock, valued at approximately $959,761.11. This represents a 16.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mike Spanos bought 500 shares of the stock in a transaction on Monday, December 23rd. The stock was purchased at an average price of $396.76 per share, for a total transaction of $198,380.00. Following the completion of the purchase, 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 disclosure for this purchase can be found here. Insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CASY. Melius Research initiated coverage on Casey’s General Stores in a research report on Monday, September 23rd. They set a “buy” rating and a $435.00 target price on the stock. Royal Bank of Canada raised their target price on Casey’s General Stores from $403.00 to $428.00 and gave the company a “sector perform” rating in a report on Tuesday, December 10th. BMO Capital Markets reaffirmed a “market perform” rating and set a $450.00 price objective (up from $400.00) on shares of Casey’s General Stores in a report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Casey’s General Stores from $451.00 to $454.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, Gordon Haskett initiated coverage on shares of Casey’s General Stores in a research report on Monday, November 4th. They issued a “hold” rating and a $400.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target 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.