Wedge Capital Management L L P NC Sells 10,769 Shares of Casey’s General Stores, Inc. (NASDAQ:CASY)

Wedge Capital Management L L P NC trimmed its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 8.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 118,711 shares of the company’s stock after selling 10,769 shares during the period. Wedge Capital Management L L P NC’s holdings in Casey’s General Stores were worth $47,037,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Federated Hermes Inc. increased its stake in Casey’s General Stores by 6.8% in the second quarter. Federated Hermes Inc. now owns 4,275 shares of the company’s stock valued at $1,631,000 after acquiring an additional 273 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Casey’s General Stores by 3.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 468,650 shares of the company’s stock worth $178,822,000 after buying an additional 14,750 shares in the last quarter. Bradley Foster & Sargent Inc. CT bought a new stake in shares of Casey’s General Stores during the 2nd quarter worth $274,000. Argent Trust Co acquired a new stake in Casey’s General Stores in the second quarter valued at about $270,000. Finally, Vanguard Personalized Indexing Management LLC grew its position in Casey’s General Stores by 12.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,568 shares of the company’s stock valued at $1,743,000 after acquiring an additional 516 shares during the last quarter. 85.63% of the stock is owned by institutional investors.

Insider Transactions at Casey’s General Stores

In related news, Director Mike Spanos acquired 500 shares of Casey’s General Stores stock in a transaction dated Monday, December 23rd. The stock was bought at an average price of $396.76 per share, with a total value of $198,380.00. Following the transaction, the director now directly owns 3,097 shares in the company, valued at $1,228,765.72. This represents a 19.25 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Katrina S. Lindsey sold 450 shares of the business’s 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 transaction, the insider now owns 2,247 shares in the company, valued at $959,761.11. The trade was a 16.69 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.56% of the company’s stock.

Analysts Set New Price Targets

CASY has been the subject of a number of research reports. Melius Research initiated coverage on shares of Casey’s General Stores in a report on Monday, September 23rd. They issued a “buy” rating and a $435.00 target price for the company. Evercore ISI raised their target price on shares of Casey’s General Stores from $460.00 to $470.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. StockNews.com downgraded shares of Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a report on Friday, December 13th. BMO Capital Markets reissued a “market perform” rating and set a $450.00 price objective (up previously from $400.00) on shares of Casey’s General Stores in a report on Wednesday, December 18th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Casey’s General Stores from $451.00 to $454.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Casey’s General Stores has a consensus rating of “Moderate Buy” and an average price target of $424.00.

Casey’s General Stores Price Performance

Shares of CASY opened at $391.51 on Friday. The business has a 50-day moving average of $408.49 and a 200-day moving average of $388.91. 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 company has a market capitalization of $14.53 billion, a price-to-earnings ratio of 27.28, a price-to-earnings-growth ratio of 2.20 and a beta of 0.82. Casey’s General Stores, Inc. has a 1 year low of $268.07 and a 1 year 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 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter in the previous year, the company earned $4.24 EPS. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. As a group, equities research analysts anticipate that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey’s General Stores Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 17th. Shareholders of record on Monday, February 3rd will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.00 dividend on an annualized basis and a yield of 0.51%. Casey’s General Stores’s payout ratio is currently 13.94%.

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.