Azimuth Capital Investment Management LLC Boosts Stock Holdings in Casey’s General Stores, Inc. (NASDAQ:CASY)

Azimuth Capital Investment Management LLC lifted its position in Casey’s General Stores, Inc. (NASDAQ:CASY) by 2.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,985 shares of the company’s stock after buying an additional 706 shares during the period. Azimuth Capital Investment Management LLC’s holdings in Casey’s General Stores were worth $13,862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. HighTower Advisors LLC increased its stake in shares of Casey’s General Stores by 0.4% in the third quarter. HighTower Advisors LLC now owns 13,645 shares of the company’s stock worth $5,156,000 after purchasing an additional 49 shares in the last quarter. Integrated Wealth Concepts LLC raised its holdings in Casey’s General Stores by 109.7% during the third quarter. Integrated Wealth Concepts LLC now owns 1,726 shares of the company’s stock valued at $649,000 after acquiring an additional 903 shares during the period. Quantinno Capital Management LP boosted its stake in shares of Casey’s General Stores by 14.6% in the third quarter. Quantinno Capital Management LP now owns 8,696 shares of the company’s stock worth $3,267,000 after acquiring an additional 1,111 shares during the period. Wellington Management Group LLP boosted its stake in shares of Casey’s General Stores by 281.4% in the third quarter. Wellington Management Group LLP now owns 164,656 shares of the company’s stock worth $61,863,000 after acquiring an additional 121,488 shares during the period. Finally, XTX Topco Ltd purchased a new stake in shares of Casey’s General Stores during the third quarter worth about $397,000. 85.63% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Katrina S. Lindsey sold 250 shares of the business’s stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $437.01, for a total value of $109,252.50. Following the completion of the sale, the insider now owns 2,443 shares in the company, valued at approximately $1,067,615.43. The trade was a 9.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mike Spanos acquired 256 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average cost of $390.54 per share, with a total value of $99,978.24. Following the completion of the purchase, the director now owns 3,356 shares of the company’s stock, valued at $1,310,652.24. This trade represents a 8.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.56% of the stock is owned by insiders.

Casey’s General Stores Price Performance

NASDAQ:CASY opened at $416.49 on Wednesday. The firm has a market capitalization of $15.46 billion, a price-to-earnings ratio of 29.02, a PEG ratio of 2.40 and a beta of 0.74. 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 business has a 50 day simple moving average of $416.65 and a 200-day simple moving average of $406.03. Casey’s General Stores, Inc. has a 1 year low of $306.45 and a 1 year high of $458.92.

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

Casey’s General Stores Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be issued 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 0.48%. Casey’s General Stores’s payout ratio is 13.94%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. StockNews.com downgraded Casey’s General Stores from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Gordon Haskett upgraded shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Evercore ISI lifted their price target on shares of Casey’s General Stores from $450.00 to $460.00 and gave the company an “outperform” rating in a report on Tuesday, April 1st. Royal Bank of Canada set a $438.00 price objective on shares of Casey’s General Stores and gave the company a “sector perform” rating in a report on Wednesday, March 12th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $450.00 target price (up from $400.00) on shares of Casey’s General Stores in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $424.00.

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.