Congress Asset Management Co. Has $142.87 Million Position in Casey’s General Stores, Inc. (NASDAQ:CASY)

Congress Asset Management Co. lowered its stake in Casey’s General Stores, Inc. (NASDAQ:CASY) by 1.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 380,268 shares of the company’s stock after selling 4,614 shares during the period. Casey’s General Stores makes up 1.0% of Congress Asset Management Co.’s portfolio, making the stock its 26th largest holding. Congress Asset Management Co. owned 1.02% of Casey’s General Stores worth $142,871,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in CASY. Park Place Capital Corp acquired a new stake in Casey’s General Stores in the 2nd quarter worth about $31,000. Innealta Capital LLC bought a new position in Casey’s General Stores during the 2nd quarter worth $32,000. Advisors Asset Management Inc. bought a new stake in shares of Casey’s General Stores during the 1st quarter valued at $32,000. Bank & Trust Co acquired a new stake in shares of Casey’s General Stores during the 2nd quarter worth $40,000. Finally, V Square Quantitative Management LLC raised its stake in Casey’s General Stores by 22.5% in the third quarter. V Square Quantitative Management LLC now owns 158 shares of the company’s stock valued at $59,000 after purchasing an additional 29 shares in the last quarter. Institutional investors own 85.63% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on CASY shares. JPMorgan Chase & Co. lowered shares of Casey’s General Stores from a “neutral” rating to an “underweight” rating and raised their target price for the company from $300.00 to $337.00 in a report on Thursday, September 19th. Benchmark restated a “buy” rating and set a $410.00 target price on shares of Casey’s General Stores in a research note on Tuesday, September 10th. Melius Research assumed coverage on Casey’s General Stores in a research note on Monday, September 23rd. They issued a “buy” rating and a $435.00 price target on the stock. 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, September 5th. Finally, Evercore ISI raised their price target on shares of Casey’s General Stores from $435.00 to $440.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Casey’s General Stores currently has an average rating of “Moderate Buy” and a consensus price target of $408.09.

Insider Activity

In related news, CEO Darren M. Rebelez sold 13,500 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $374.54, for a total transaction of $5,056,290.00. Following the transaction, the chief executive officer now directly owns 73,838 shares of the company’s stock, valued at approximately $27,655,284.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Casey’s General Stores news, Director Mike Spanos bought 267 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were bought at an average price of $376.18 per share, for a total transaction of $100,440.06. Following the acquisition, the director now directly owns 2,594 shares of the company’s stock, valued at approximately $975,810.92. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Darren M. Rebelez sold 13,500 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $374.54, for a total value of $5,056,290.00. Following the sale, the chief executive officer now directly owns 73,838 shares of the company’s stock, valued at $27,655,284.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.56% of the company’s stock.

Casey’s General Stores Trading Down 0.3 %

Shares of NASDAQ CASY traded down $1.21 during trading on Thursday, reaching $397.10. The company had a trading volume of 16,012 shares, compared to its average volume of 269,907. The stock has a market cap of $14.74 billion, a P/E ratio of 28.99 and a beta of 0.80. The company’s fifty day moving average price is $377.61 and its 200-day moving average price is $362.04. The company has a quick ratio of 0.44, a current ratio of 0.84 and a debt-to-equity ratio of 0.44. Casey’s General Stores, Inc. has a 12 month low of $266.56 and a 12 month high of $401.17.

Casey’s General Stores (NASDAQ:CASY) last released its earnings results on Wednesday, September 4th. The company reported $4.83 earnings per share for the quarter, beating analysts’ consensus estimates of $4.54 by $0.29. Casey’s General Stores had a net margin of 3.40% and a return on equity of 17.07%. The business had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter in the prior year, the firm posted $4.52 EPS. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, research analysts expect that Casey’s General Stores, Inc. will post 14.01 earnings per share for the current year.

Casey’s General Stores Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.50%. The ex-dividend date is Friday, November 1st. Casey’s General Stores’s dividend payout ratio (DPR) is currently 14.56%.

Casey’s General Stores Company 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.