Bank of New York Mellon Corp Raises Stake in Casey’s General Stores, Inc. (NASDAQ:CASY)

Bank of New York Mellon Corp lifted its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 1.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 340,231 shares of the company’s stock after purchasing an additional 3,321 shares during the quarter. Bank of New York Mellon Corp owned about 0.92% of Casey’s General Stores worth $134,810,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. FMR LLC grew its holdings 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. JPMorgan Chase & Co. lifted its position in shares of Casey’s General Stores by 18.7% during the third 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 in the last quarter. Geode Capital Management LLC lifted its position in shares of Casey’s General Stores by 1.3% during the third quarter. Geode Capital Management LLC now owns 655,488 shares of the company’s stock worth $246,335,000 after purchasing an additional 8,428 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Casey’s General Stores by 49.9% during the third quarter. Franklin Resources Inc. now owns 524,237 shares of the company’s stock worth $204,861,000 after purchasing an additional 174,586 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Casey’s General Stores by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 273,332 shares of the company’s stock worth $102,694,000 after purchasing an additional 702 shares in the last quarter. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Royal Bank of Canada boosted their target price on shares of Casey’s General Stores from $403.00 to $428.00 and gave the stock a “sector perform” rating in a research report on Tuesday, December 10th. Evercore ISI boosted their target price on shares of Casey’s General Stores from $460.00 to $470.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Casey’s General Stores from $451.00 to $454.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. BMO Capital Markets reissued a “market perform” rating and set a $450.00 target price (up from $400.00) on shares of Casey’s General Stores in a research report on Wednesday, December 18th. Finally, Gordon Haskett raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $424.00.

Casey’s General Stores Trading Up 1.3 %

CASY opened at $414.21 on Friday. The stock has a market capitalization of $15.37 billion, a PE ratio of 28.86, a P/E/G ratio of 2.40 and a beta of 0.83. The firm’s fifty day moving average price is $410.37 and its 200 day moving average price is $398.17. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.88 and a quick ratio of 0.49. Casey’s General Stores, Inc. has a 12-month low of $290.00 and a 12-month high of $445.17.

Casey’s General Stores (NASDAQ:CASY) last released its earnings results on Monday, December 9th. The company reported $4.85 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $4.03 billion. During the same quarter in the previous year, the firm earned $4.24 earnings per share. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, research analysts expect that Casey’s General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey’s General Stores Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 17th. Shareholders of record on Monday, February 3rd were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.00 annualized dividend and a yield of 0.48%. Casey’s General Stores’s payout ratio is 13.94%.

Insider Buying and Selling at Casey’s General Stores

In other news, insider Katrina S. Lindsey sold 450 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $427.13, for a total transaction of $192,208.50. Following the completion of the transaction, the insider now owns 2,247 shares in the company, valued at approximately $959,761.11. This represents a 16.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mike Spanos purchased 500 shares of the stock in a transaction dated Monday, December 23rd. The shares were purchased at an average price of $396.76 per share, with a total value of $198,380.00. Following the transaction, the director now directly owns 3,097 shares of the company’s stock, valued at approximately $1,228,765.72. The trade was a 19.25 % increase in their position. The disclosure for this purchase can be found here. 0.56% of the stock is owned by insiders.

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.