abrdn plc Boosts Holdings in Casey’s General Stores, Inc. (NASDAQ:CASY)

abrdn plc increased its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 0.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 81,569 shares of the company’s stock after purchasing an additional 289 shares during the period. abrdn plc owned approximately 0.22% of Casey’s General Stores worth $32,320,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Soros Capital Management LLC boosted its position in shares of Casey’s General Stores by 1,825.6% during the 3rd quarter. Soros Capital Management LLC now owns 27,632 shares of the company’s stock worth $10,382,000 after purchasing an additional 26,197 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Casey’s General Stores by 9.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 14,725 shares of the company’s stock worth $5,532,000 after purchasing an additional 1,332 shares during the period. Lord Abbett & CO. LLC purchased a new position in shares of Casey’s General Stores during the 3rd quarter worth approximately $23,294,000. JPMorgan Chase & Co. boosted its position in shares of Casey’s General Stores by 18.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 758,804 shares of the company’s stock worth $285,090,000 after purchasing an additional 119,350 shares during the period. Finally, FMR LLC boosted its position in shares of Casey’s General Stores by 3.8% during the 3rd quarter. FMR LLC now owns 1,046,830 shares of the company’s stock worth $393,305,000 after purchasing an additional 38,226 shares during the period. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Price Performance

Casey’s General Stores stock opened at $429.42 on Thursday. The stock has a market cap of $15.94 billion, a P/E ratio of 29.92, a price-to-earnings-growth ratio of 2.40 and a beta of 0.83. The company has a fifty day simple moving average of $408.32 and a 200-day simple moving average of $392.76. Casey’s General Stores, Inc. has a 12-month low of $272.46 and a 12-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 announced 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. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. The firm had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same period in the previous year, the company earned $4.24 earnings per share. Casey’s General Stores’s quarterly revenue was down 2.9% compared to the same quarter last year. Equities 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 business also recently declared a quarterly dividend, which will be paid on Monday, February 17th. Investors of record on Monday, February 3rd will be given a $0.50 dividend. The ex-dividend date is Monday, February 3rd. This represents a $2.00 dividend on an annualized basis and a yield of 0.47%. Casey’s General Stores’s dividend payout ratio (DPR) is presently 13.94%.

Insider Activity at Casey’s General Stores

In other Casey’s General Stores news, insider Katrina S. Lindsey sold 450 shares of Casey’s General Stores stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $427.13, for a total value of $192,208.50. Following the transaction, the insider now directly owns 2,247 shares in the company, valued at approximately $959,761.11. The trade was a 16.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mike Spanos acquired 500 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was acquired 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 owns 3,097 shares of the company’s stock, valued at $1,228,765.72. This trade represents a 19.25 % increase in their position. The disclosure for this purchase can be found here. 0.56% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CASY has been the subject of several research reports. StockNews.com downgraded shares of Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 13th. Royal Bank of Canada boosted 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. Deutsche Bank Aktiengesellschaft boosted 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 boosted 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. Finally, BMO Capital Markets restated a “market perform” rating and issued 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.