abrdn plc Increases Stock Position in Casey’s General Stores, Inc. (NASDAQ:CASY)

abrdn plc lifted its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 0.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 81,569 shares of the company’s stock after buying an additional 289 shares during the period. abrdn plc’s holdings in Casey’s General Stores were worth $32,320,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CASY. International Assets Investment Management LLC purchased a new position in shares of Casey’s General Stores during the third quarter valued at approximately $959,880,000. Franklin Resources Inc. lifted its stake in shares of Casey’s General Stores by 49.9% during the third quarter. Franklin Resources Inc. now owns 524,237 shares of the company’s stock valued at $204,861,000 after buying an additional 174,586 shares during the period. Benjamin Edwards Inc. lifted its stake in shares of Casey’s General Stores by 1,819.1% during the third quarter. Benjamin Edwards Inc. now owns 130,291 shares of the company’s stock valued at $48,959,000 after buying an additional 123,502 shares during the period. Wellington Management Group LLP lifted its stake in shares of Casey’s General Stores by 281.4% during the third quarter. Wellington Management Group LLP now owns 164,656 shares of the company’s stock valued at $61,863,000 after buying an additional 121,488 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of Casey’s General Stores by 18.7% during the third quarter. JPMorgan Chase & Co. now owns 758,804 shares of the company’s stock valued at $285,090,000 after buying an additional 119,350 shares during the period. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Insider Activity at Casey’s General Stores

In other Casey’s General Stores news, insider Katrina S. Lindsey sold 450 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $427.13, for a total transaction of $192,208.50. Following the transaction, the insider now directly owns 2,247 shares in the company, valued at $959,761.11. This represents a 16.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mike Spanos acquired 500 shares of Casey’s General Stores stock in a transaction on Monday, December 23rd. The shares were bought at an average price of $396.76 per share, for a total transaction of $198,380.00. Following the completion of the purchase, the director now directly owns 3,097 shares in the company, valued at $1,228,765.72. The trade was a 19.25 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.56% of the company’s stock.

Casey’s General Stores Price Performance

CASY opened at $429.42 on Thursday. The company has a fifty day simple moving average of $408.32 and a 200 day simple moving average of $392.76. The firm has a market cap of $15.94 billion, a price-to-earnings ratio of 29.92, a PEG ratio of 2.40 and a beta of 0.83. Casey’s General Stores, Inc. has a twelve month low of $272.46 and a twelve month high of $439.68. The company has a current ratio of 0.88, a quick ratio of 0.49 and a debt-to-equity ratio of 0.74.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Monday, December 9th. The company reported $4.85 earnings per share for the quarter, beating analysts’ consensus estimates of $4.29 by $0.56. The business had revenue of $3.95 billion during the quarter, compared to analyst estimates of $4.03 billion. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. The business’s revenue was down 2.9% on a year-over-year basis. During the same period last year, the business earned $4.24 EPS. Equities research analysts expect that Casey’s General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey’s General Stores Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 17th. Investors of record on Monday, February 3rd will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Monday, February 3rd. Casey’s General Stores’s payout ratio is 13.94%.

Wall Street Analyst Weigh In

CASY has been the topic of several recent analyst reports. Gordon Haskett began coverage on shares of Casey’s General Stores in a research note on Monday, November 4th. They set a “hold” rating and a $400.00 price objective on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of Casey’s General Stores from $451.00 to $454.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Evercore ISI increased their price target on shares of Casey’s General Stores from $460.00 to $470.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. BMO Capital Markets reaffirmed a “market perform” rating and set a $450.00 price target (up previously from $400.00) on shares of Casey’s General Stores in a research note on Wednesday, December 18th. Finally, Royal Bank of Canada increased their price target on shares of Casey’s General Stores from $403.00 to $428.00 and gave the stock a “sector perform” rating in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Casey’s General Stores presently has an average rating of “Moderate Buy” and an average price target of $424.00.

Casey’s General Stores Profile

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.