Casey’s General Stores, Inc. (NASDAQ:CASY) Position Reduced by Swiss National Bank

Swiss National Bank reduced its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 10.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 73,487 shares of the company’s stock after selling 8,600 shares during the quarter. Swiss National Bank owned about 0.20% of Casey’s General Stores worth $20,190,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. BKM Wealth Management LLC acquired a new position in Casey’s General Stores during the fourth quarter worth about $29,000. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Casey’s General Stores in the 4th quarter worth approximately $36,000. Harvest Fund Management Co. Ltd acquired a new stake in Casey’s General Stores during the third quarter valued at approximately $38,000. Milestone Investment Advisors LLC acquired a new stake in Casey’s General Stores during the third quarter valued at approximately $43,000. Finally, Blue Trust Inc. grew its position in Casey’s General Stores by 81.7% in the fourth quarter. Blue Trust Inc. now owns 169 shares of the company’s stock worth $46,000 after buying an additional 76 shares during the last quarter. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Casey’s General Stores Stock Performance

Shares of CASY opened at $332.91 on Friday. The company has a market capitalization of $12.32 billion, a PE ratio of 26.46, a PEG ratio of 2.28 and a beta of 0.82. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.42 and a current ratio of 0.89. The company’s 50 day moving average price is $312.77 and its 200 day moving average price is $290.98. Casey’s General Stores, Inc. has a 52 week low of $212.50 and a 52 week high of $333.24.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results on Tuesday, March 12th. The company reported $2.33 EPS for the quarter, beating the consensus estimate of $2.20 by $0.13. Casey’s General Stores had a net margin of 3.23% and a return on equity of 16.70%. The business had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.51 billion. During the same period in the previous year, the company posted $2.36 EPS. Casey’s General Stores’s revenue was down .1% on a year-over-year basis. Research analysts expect that Casey’s General Stores, Inc. will post 12.81 EPS for the current fiscal year.

Casey’s General Stores Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be issued a $0.43 dividend. The ex-dividend date is Tuesday, April 30th. This represents a $1.72 dividend on an annualized basis and a yield of 0.52%. Casey’s General Stores’s dividend payout ratio is currently 13.67%.

Analysts Set New Price Targets

A number of brokerages have recently commented on CASY. Evercore ISI cut their price objective on Casey’s General Stores from $350.00 to $345.00 and set an “outperform” rating for the company in a research report on Tuesday, April 16th. Wells Fargo & Company increased their price target on Casey’s General Stores from $305.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. Benchmark restated a “buy” rating and set a $312.00 price objective on shares of Casey’s General Stores in a report on Wednesday, March 6th. BMO Capital Markets raised their target price on shares of Casey’s General Stores from $290.00 to $305.00 and gave the stock a “market perform” rating in a report on Wednesday, March 13th. Finally, StockNews.com lowered shares of Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 21st. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Casey’s General Stores currently has an average rating of “Moderate Buy” and an average target price of $312.63.

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.