Anchor Capital Advisors LLC Sells 60,873 Shares of Casey’s General Stores, Inc. (NASDAQ:CASY)

Anchor Capital Advisors LLC reduced its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 29.8% in the second quarter, HoldingsChannel.com reports. The fund owned 143,202 shares of the company’s stock after selling 60,873 shares during the quarter. Casey’s General Stores accounts for 1.5% of Anchor Capital Advisors LLC’s holdings, making the stock its 13th biggest position. Anchor Capital Advisors LLC’s holdings in Casey’s General Stores were worth $54,640,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Private Advisor Group LLC boosted its position in shares of Casey’s General Stores by 37.2% during the 4th quarter. Private Advisor Group LLC now owns 3,309 shares of the company’s stock valued at $909,000 after purchasing an additional 897 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Casey’s General Stores by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 265,915 shares of the company’s stock valued at $73,057,000 after buying an additional 6,867 shares during the period. Cullen Frost Bankers Inc. bought a new position in shares of Casey’s General Stores during the 4th quarter worth approximately $82,000. Principal Securities Inc. acquired a new stake in shares of Casey’s General Stores during the 4th quarter worth approximately $666,000. Finally, Versor Investments LP bought a new stake in shares of Casey’s General Stores in the 4th quarter valued at $495,000. 85.63% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CASY. Benchmark reissued a “buy” rating and set a $410.00 target price on shares of Casey’s General Stores in a research note on Tuesday, September 3rd. Northcoast Research raised shares of Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $410.00 price objective on the stock in a research report on Thursday, July 11th. BMO Capital Markets boosted their target price on Casey’s General Stores from $305.00 to $400.00 and gave the company a “market perform” rating in a research report on Thursday, June 13th. StockNews.com downgraded Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 3rd. Finally, Royal Bank of Canada raised their price objective on Casey’s General Stores from $393.00 to $403.00 and gave the company a “sector perform” rating in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Casey’s General Stores currently has a consensus rating of “Moderate Buy” and an average price target of $401.20.

Casey’s General Stores Stock Down 1.8 %

CASY stock opened at $373.82 on Friday. The firm has a market capitalization of $13.87 billion, a PE ratio of 27.83, a P/E/G ratio of 2.52 and a beta of 0.80. The company has a quick ratio of 0.42, a current ratio of 0.87 and a debt-to-equity ratio of 0.52. Casey’s General Stores, Inc. has a twelve month low of $238.44 and a twelve month high of $401.07. The stock’s 50 day moving average is $373.57 and its 200-day moving average is $342.55.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Wednesday, September 4th. The company reported $4.83 EPS for the quarter, beating analysts’ consensus estimates of $4.54 by $0.29. The business had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.15 billion. Casey’s General Stores had a return on equity of 17.25% and a net margin of 3.38%. Casey’s General Stores’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.52 EPS. Sell-side analysts expect that Casey’s General Stores, Inc. will post 14.06 EPS for the current fiscal year.

Casey’s General Stores Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.54%. The ex-dividend date is Friday, November 1st. Casey’s General Stores’s dividend payout ratio (DPR) is presently 14.89%.

Casey’s General Stores Profile

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. Its stores offer pizza, donuts, breakfast items, and sandwiches; and tobacco and nicotine products. The company's stores provide soft drinks, energy, water, sports drinks, juices, coffee, and tea and dairy products; beer, wine, and spirits; snacks, candy, packaged bakery, and other food items; ice, ice cream, meals, and appetizers; health and beauty aids, automotive products, electronic accessories, housewares, and pet supplies; and ATM, lotto/lottery, and prepaid cards.