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

Tributary Capital Management LLC trimmed its position in Casey’s General Stores, Inc. (NASDAQ:CASY – Get Rating) by 16.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,639 shares of the company’s stock after selling 511 shares during the period. Tributary Capital Management LLC’s holdings in Casey’s General Stores were worth $592,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its holdings in shares of Casey’s General Stores by 896.4% in the third quarter. Victory Capital Management Inc. now owns 482,474 shares of the company’s stock valued at $97,710,000 after acquiring an additional 434,050 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Casey’s General Stores by 152.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 384,281 shares of the company’s stock valued at $76,153,000 after purchasing an additional 232,277 shares during the last quarter. Wedge Capital Management L L P NC bought a new stake in shares of Casey’s General Stores during the 4th quarter worth $33,861,000. Renaissance Technologies LLC boosted its holdings in shares of Casey’s General Stores by 2,025.8% in the 3rd quarter. Renaissance Technologies LLC now owns 118,872 shares of the company’s stock worth $24,074,000 after buying an additional 113,280 shares during the last quarter. Finally, Weiss Multi Strategy Advisers LLC purchased a new stake in Casey’s General Stores during the first quarter worth about $21,799,000. Hedge funds and other institutional investors own 84.74% of the company’s stock.

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Casey’s General Stores Stock Performance

Shares of CASY opened at $215.06 on Monday. Casey’s General Stores, Inc. has a 52-week low of $181.40 and a 52-week high of $249.90. The stock’s 50-day simple moving average is $215.98 and its 200 day simple moving average is $222.17. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.66 and a current ratio of 1.10. The stock has a market capitalization of $8.01 billion, a price-to-earnings ratio of 17.88 and a beta of 0.82.

Casey’s General Stores (NASDAQ:CASY – Get Rating) last announced its quarterly earnings results on Wednesday, March 8th. The company reported $2.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.53. The firm had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.35 billion. Casey’s General Stores had a net margin of 2.96% and a return on equity of 18.02%. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.71 earnings per share. Research analysts forecast that Casey’s General Stores, Inc. will post 11.66 EPS for the current fiscal year.

Casey’s General Stores Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 15th. Stockholders of record on Monday, May 1st will be given a dividend of $0.38 per share. The ex-dividend date is Friday, April 28th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.71%. Casey’s General Stores’s dividend payout ratio (DPR) is currently 12.64%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Casey’s General Stores from $285.00 to $294.00 and gave the company a “buy” rating in a research note on Thursday, March 9th. Credit Suisse Group reissued a “neutral” rating and set a $254.00 price objective on shares of Casey’s General Stores in a report on Thursday, March 9th. Wells Fargo & Company raised their target price on Casey’s General Stores to $270.00 in a research report on Monday, December 12th. JPMorgan Chase & Co. raised Casey’s General Stores from an “underweight” rating to a “neutral” rating and upped their price target for the company from $173.00 to $211.00 in a research report on Friday, March 3rd. Finally, StockNews.com upgraded Casey’s General Stores from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 31st. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $259.44.

About Casey’s General Stores

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Casey’s General Stores, Inc engages in the 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.

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