Tributary Capital Management LLC Grows Stock Holdings in Casey’s General Stores, Inc. (NASDAQ:CASY)

Tributary Capital Management LLC raised its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 46.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,391 shares of the company’s stock after acquiring an additional 1,079 shares during the quarter. Tributary Capital Management LLC’s holdings in Casey’s General Stores were worth $1,344,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. AE Wealth Management LLC lifted its holdings in Casey’s General Stores by 26.6% in the 2nd quarter. AE Wealth Management LLC now owns 941 shares of the company’s stock worth $359,000 after purchasing an additional 198 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Casey’s General Stores by 9.1% in the second quarter. Bank of Montreal Can now owns 23,685 shares of the company’s stock worth $9,044,000 after buying an additional 1,983 shares in the last quarter. Marshall Wace LLP boosted its position in shares of Casey’s General Stores by 113.3% during the second quarter. Marshall Wace LLP now owns 12,065 shares of the company’s stock worth $4,604,000 after acquiring an additional 6,408 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Casey’s General Stores during the second quarter valued at $252,000. Finally, AXA S.A. increased its holdings in Casey’s General Stores by 14.5% in the 2nd quarter. AXA S.A. now owns 40,677 shares of the company’s stock valued at $15,521,000 after acquiring an additional 5,151 shares during the last quarter. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised their price objective on Casey’s General Stores from $451.00 to $454.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Evercore ISI raised their price target on Casey’s General Stores from $460.00 to $470.00 and gave the company an “outperform” rating in a report on Friday, December 13th. StockNews.com cut Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a report on Friday, December 13th. BMO Capital Markets reissued 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. Finally, Gordon Haskett started coverage on shares of Casey’s General Stores in a research report on Monday, November 4th. They issued a “hold” rating and a $400.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $424.00.

Casey’s General Stores Price Performance

Casey’s General Stores stock opened at $411.25 on Friday. The firm has a market capitalization of $15.27 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 2.29 and a beta of 0.82. Casey’s General Stores, Inc. has a 12-month low of $268.07 and a 12-month high of $439.68. The firm has a 50-day moving average price of $407.89 and a 200-day moving average price of $390.04. 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 announced its earnings results on Monday, December 9th. The company reported $4.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.29 by $0.56. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. The business had revenue of $3.95 billion during the quarter, compared to analyst estimates of $4.03 billion. During the same quarter in the previous year, the business earned $4.24 earnings per share. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, equities research analysts forecast that Casey’s General Stores, Inc. will post 13.94 EPS for the current year.

Casey’s General Stores Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 17th. Shareholders of record on Monday, February 3rd will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.49%. The ex-dividend date is Monday, February 3rd. Casey’s General Stores’s dividend payout ratio (DPR) is presently 13.94%.

Insiders Place Their Bets

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

Casey’s General Stores Company 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.