Watchman Group Inc. Lowers Stake in Casey’s General Stores, Inc. (NASDAQ:CASY)

Watchman Group Inc. lowered its stake in Casey’s General Stores, Inc. (NASDAQ:CASY) by 6.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 11,521 shares of the company’s stock after selling 764 shares during the quarter. Casey’s General Stores accounts for about 1.2% of Watchman Group Inc.’s portfolio, making the stock its 24th biggest holding. Watchman Group Inc.’s holdings in Casey’s General Stores were worth $4,565,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. YANKCOM Partnership acquired a new stake in shares of Casey’s General Stores in the fourth quarter valued at $34,000. Endeavor Private Wealth Inc. acquired a new position in Casey’s General Stores during the 4th quarter worth approximately $36,000. MassMutual Private Wealth & Trust FSB increased its position in shares of Casey’s General Stores by 24.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 149 shares of the company’s stock valued at $59,000 after purchasing an additional 29 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of Casey’s General Stores during the 4th quarter worth $79,000. Finally, V Square Quantitative Management LLC raised its stake in Casey’s General Stores by 32.9% in the fourth quarter. V Square Quantitative Management LLC now owns 210 shares of the company’s stock valued at $83,000 after buying an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Price Performance

Shares of NASDAQ CASY opened at $432.00 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.49 and a debt-to-equity ratio of 0.74. The stock has a market cap of $16.04 billion, a price-to-earnings ratio of 30.10, a PEG ratio of 2.40 and a beta of 0.87. The company’s 50-day moving average price is $413.35 and its 200 day moving average price is $402.99. Casey’s General Stores, Inc. has a 52 week low of $306.45 and a 52 week high of $445.17.

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

Casey’s General Stores Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, May 1st. This represents a $2.00 annualized dividend and a yield of 0.46%. Casey’s General Stores’s dividend payout ratio (DPR) is presently 13.94%.

Analyst Upgrades and Downgrades

Several analysts recently commented on CASY shares. Evercore ISI reduced their price target on shares of Casey’s General Stores from $460.00 to $450.00 and set an “outperform” rating for the company in a research report on Tuesday, March 11th. StockNews.com downgraded Casey’s General Stores from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. BMO Capital Markets reissued a “market perform” rating and issued a $450.00 price objective (up from $400.00) on shares of Casey’s General Stores in a research note on Wednesday, December 18th. Royal Bank of Canada set a $438.00 target price on shares of Casey’s General Stores and gave the company a “sector perform” rating in a report on Wednesday, March 12th. Finally, Gordon Haskett raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $423.09.

Insiders Place Their Bets

In related news, Director Mike Spanos bought 256 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average cost of $390.54 per share, with a total value of $99,978.24. Following the completion of the transaction, the director now owns 3,356 shares of the company’s stock, valued at approximately $1,310,652.24. The trade was a 8.26 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.56% of the stock is owned by corporate 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.