Parallel Advisors LLC Cuts Stake in Casey’s General Stores, Inc. (NASDAQ:CASY)

Parallel Advisors LLC cut its stake in Casey’s General Stores, Inc. (NASDAQ:CASY) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,670 shares of the company’s stock after selling 30 shares during the quarter. Parallel Advisors LLC’s holdings in Casey’s General Stores were worth $662,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Soros Capital Management LLC grew its stake in shares of Casey’s General Stores by 1,825.6% during the third quarter. Soros Capital Management LLC now owns 27,632 shares of the company’s stock valued at $10,382,000 after acquiring an additional 26,197 shares in the last quarter. Sanctuary Advisors LLC grew its stake in shares of Casey’s General Stores by 55.6% during the fourth quarter. Sanctuary Advisors LLC now owns 8,579 shares of the company’s stock valued at $3,629,000 after acquiring an additional 3,065 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Casey’s General Stores by 9.9% during the third quarter. PNC Financial Services Group Inc. now owns 14,725 shares of the company’s stock valued at $5,532,000 after acquiring an additional 1,332 shares in the last quarter. JLB & Associates Inc. grew its stake in shares of Casey’s General Stores by 1.8% during the fourth quarter. JLB & Associates Inc. now owns 43,029 shares of the company’s stock valued at $17,049,000 after acquiring an additional 749 shares in the last quarter. Finally, South Dakota Investment Council grew its stake in shares of Casey’s General Stores by 28.0% during the fourth quarter. South Dakota Investment Council now owns 10,065 shares of the company’s stock valued at $3,988,000 after acquiring an additional 2,200 shares in the last quarter. 85.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CASY shares. BMO Capital Markets restated a “market perform” rating and set a $450.00 target price (up from $400.00) on shares of Casey’s General Stores in a research note on Wednesday, December 18th. StockNews.com downgraded Casey’s General Stores from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Royal Bank of Canada set a $438.00 price target on Casey’s General Stores and gave the stock 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. Finally, Evercore ISI decreased their price target on Casey’s General Stores from $460.00 to $450.00 and set an “outperform” rating for the company in a research note on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $423.09.

Casey’s General Stores Stock Performance

Shares of CASY stock opened at $394.84 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 business has a 50 day moving average of $409.84 and a two-hundred day moving average of $400.51. Casey’s General Stores, Inc. has a 52 week low of $306.45 and a 52 week high of $445.17. The company has a market cap of $14.66 billion, a P/E ratio of 27.51, a PEG ratio of 2.40 and a beta of 0.87.

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

Casey’s General Stores Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be paid a $0.50 dividend. The ex-dividend date is Thursday, May 1st. 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%.

Insider Buying and Selling at Casey’s General Stores

In other Casey’s General Stores news, Director Mike Spanos purchased 256 shares of the business’s stock in a transaction dated 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 owns 3,356 shares in the company, valued at approximately $1,310,652.24. This represents a 8.26 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.56% of the stock is currently owned by insiders.

About Casey’s General Stores

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.