Hodges Capital Management Lowers stake in Casey's General Stores Inc (CASY)

Casey's General Stores Inc (CASY) : Hodges Capital Management reduced its stake in Casey's General Stores Inc by 4.46% during the most recent quarter end. The investment management company now holds a total of 403,185 shares of Casey's General Stores Inc which is valued at $48.4 Million after selling 18,825 shares in Casey's General Stores Inc , the firm said in a disclosure report filed with the SEC on May 26, 2016.Casey's General Stores Inc makes up approximately 2.20% of Hodges Capital Management’s portfolio.

Other Hedge Funds, Including , Arete Wealth Advisors boosted its stake in CASY in the latest quarter, The investment management firm added 16 additional shares and now holds a total of 9,943 shares of Casey's General Stores Inc which is valued at $1.2 Million. Casey's General Stores Inc makes up approx 0.72% of Arete Wealth Advisors’s portfolio. Oarsman Capital sold out all of its stake in CASY during the most recent quarter. The investment firm sold 1,775 shares of CASY which is valued $206,166.Netols Asset Management reduced its stake in CASY by selling 2,201 shares or 2.39% in the most recent quarter. The Hedge Fund company now holds 89,998 shares of CASY which is valued at $10.5 Million. Casey's General Stores Inc makes up approx 2.38% of Netols Asset Management’s portfolio.Amalgamated Bank boosted its stake in CASY in the latest quarter, The investment management firm added 358 additional shares and now holds a total of 4,270 shares of Casey's General Stores Inc which is valued at $495,961. Casey's General Stores Inc makes up approx 0.05% of Amalgamated Bank’s portfolio.

Casey's General Stores Inc opened for trading at $120.33 and hit $123.67 on the upside on Wednesday, eventually ending the session at $123.54, with a gain of 2.77% or 3.33 points. The heightened volatility saw the trading volume jump to 4,73,167 shares. Company has a market cap of $4,824 M.

On the company’s financial health, Casey's General Stores Inc reported $0.97 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Mar 7, 2016. Analyst had a consensus of $0.95. The company had revenue of $1565.94 million for the quarter, compared to analysts expectations of $1592.61 million. The company’s revenue was down -6.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.01 EPS.

Many Wall Street Analysts have commented on Casey's General Stores Inc. Casey's General Stores Inc was Initiated by Jefferies to “Hold” on Apr 8, 2016. Company shares were Upgraded by Deutsche Bank on Mar 30, 2016 to ” Buy”, Firm has raised the Price Target to $ 130 from a previous price target of $120 .Company shares were Upgraded by RBC Capital Mkts on Mar 9, 2016 to ” Outperform”, Firm has raised the Price Target to $ 129 from a previous price target of $128 .

Casey’s General Stores Inc. and its wholly owned subsidiaries operate convenience stores under the name Casey’s General Store in 14 Midwestern states in Iowa Missouri and Illinois. The Company also operates one store selling primarily tobacco products. The stores carry food including freshly prepared foods such as pizza donuts and sandwiches beverages tobacco products health and beauty aids automotive products and other nonfood items. As of April 30 2015 the Company operated 1878 stores. The Company operates a central warehouse Casey’s Distribution Center in Ankeny Iowa through which it supplies grocery and general merchandise items to its stores. The Company’s subsidiary Casey’s Retail Company operates stores in Illinois Kansas Minnesota Nebraska North Dakota and South Dakota. Its subsidiary Casey’s Marketing Company owns and has responsibility for the operation of stores in Arkansas Indiana Iowa Kentucky Missouri Oklahoma Tennessee and Wisconsin.

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