Tributary Capital Management LLC Has $736,000 Stock Position in Casey’s General Stores, Inc. (NASDAQ:CASY)

Tributary Capital Management LLC cut its stake in Casey’s General Stores, Inc. (NASDAQ:CASY) by 27.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,312 shares of the company’s stock after selling 886 shares during the quarter. Tributary Capital Management LLC’s holdings in Casey’s General Stores were worth $736,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Rise Advisors LLC bought a new position in shares of Casey’s General Stores in the first quarter worth $30,000. BKM Wealth Management LLC bought a new stake in Casey’s General Stores during the fourth quarter valued at $29,000. V Square Quantitative Management LLC purchased a new stake in Casey’s General Stores during the fourth quarter valued at about $35,000. McGlone Suttner Wealth Management Inc. purchased a new stake in Casey’s General Stores during the fourth quarter valued at about $36,000. Finally, ICA Group Wealth Management LLC purchased a new stake in Casey’s General Stores during the fourth quarter valued at about $41,000. 85.63% of the stock is owned by hedge funds and other institutional investors.

Casey’s General Stores Stock Performance

NASDAQ CASY traded down $4.74 during trading hours on Tuesday, reaching $372.45. The stock had a trading volume of 8,774 shares, compared to its average volume of 298,226. The stock has a fifty day moving average of $342.52 and a 200 day moving average of $310.66. The stock has a market cap of $13.82 billion, a P/E ratio of 28.09, a price-to-earnings-growth ratio of 2.76 and a beta of 0.80. Casey’s General Stores, Inc. has a 52-week low of $238.44 and a 52-week high of $389.43. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.42 and a current ratio of 0.87.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Tuesday, June 11th. The company reported $2.34 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.64. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.47 billion. Casey’s General Stores had a return on equity of 17.25% and a net margin of 3.38%. The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.49 EPS. Sell-side analysts predict that Casey’s General Stores, Inc. will post 14.2 earnings per share for the current year.

Casey’s General Stores Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st will be issued a $0.50 dividend. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.43. This represents a $2.00 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend is Thursday, August 1st. Casey’s General Stores’s dividend payout ratio is presently 12.81%.

Analysts Set New Price Targets

A number of research firms have weighed in on CASY. Northcoast Research downgraded Casey’s General Stores from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 15th. Benchmark boosted their price objective on Casey’s General Stores from $350.00 to $410.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Casey’s General Stores from $375.00 to $420.00 and gave the company a “buy” rating in a report on Thursday, June 13th. Royal Bank of Canada upped their price target on shares of Casey’s General Stores from $322.00 to $361.00 and gave the company a “sector perform” rating in a report on Wednesday, June 12th. Finally, Jefferies Financial Group upped their price target on shares of Casey’s General Stores from $342.00 to $445.00 and gave the company a “buy” rating in a report on Wednesday, June 12th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $380.11.

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.