Casey’s General Stores, Inc. (NASDAQ:CASY) Shares Purchased by Wells Fargo & Company MN

Wells Fargo & Company MN boosted its stake in Casey’s General Stores, Inc. (NASDAQ:CASY) by 30.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 100,279 shares of the company’s stock after purchasing an additional 23,541 shares during the period. Wells Fargo & Company MN’s holdings in Casey’s General Stores were worth $39,734,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC increased its position in Casey’s General Stores by 55.6% in the fourth quarter. Sanctuary Advisors LLC now owns 8,579 shares of the company’s stock worth $3,629,000 after buying an additional 3,065 shares during the period. Scholtz & Company LLC acquired a new stake in Casey’s General Stores in the fourth quarter worth $2,375,000. JLB & Associates Inc. increased its position in Casey’s General Stores by 1.8% in the fourth quarter. JLB & Associates Inc. now owns 43,029 shares of the company’s stock worth $17,049,000 after buying an additional 749 shares during the period. Segall Bryant & Hamill LLC grew its stake in shares of Casey’s General Stores by 9.1% in the fourth quarter. Segall Bryant & Hamill LLC now owns 53,330 shares of the company’s stock worth $21,131,000 after purchasing an additional 4,458 shares in the last quarter. Finally, South Dakota Investment Council grew its stake in shares of Casey’s General Stores by 28.0% in the fourth quarter. South Dakota Investment Council now owns 10,065 shares of the company’s stock worth $3,988,000 after purchasing an additional 2,200 shares in the last quarter. 85.63% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CASY shares. Gordon Haskett raised Casey’s General Stores from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. StockNews.com cut Casey’s General Stores from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Evercore ISI raised their target price on Casey’s General Stores from $450.00 to $460.00 and gave the company an “outperform” rating in a research note on Tuesday, April 1st. Royal Bank of Canada set a $438.00 target price on Casey’s General Stores and gave the company a “sector perform” rating in a research note on Wednesday, March 12th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $450.00 target price (up previously from $400.00) on shares of Casey’s General Stores in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Casey’s General Stores currently has an average rating of “Moderate Buy” and a consensus target price of $424.00.

Casey’s General Stores Stock Down 0.4 %

CASY opened at $438.01 on Friday. Casey’s General Stores, Inc. has a fifty-two week low of $306.60 and a fifty-two week high of $458.92. The business has a 50-day moving average of $417.71 and a 200-day moving average of $407.16. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.88 and a quick ratio of 0.49. The company has a market capitalization of $16.26 billion, a PE ratio of 30.52, a price-to-earnings-growth ratio of 2.40 and a beta of 0.74.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results on Tuesday, March 11th. The company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.57. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. The company had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $3.74 billion. During the same period last year, the business earned $2.33 EPS. The business’s quarterly revenue was up 17.2% on a year-over-year basis. Equities research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Thursday, May 1st. Casey’s General Stores’s dividend payout ratio is 13.94%.

Insider Activity

In other Casey’s General Stores news, insider Katrina S. Lindsey sold 250 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $437.01, for a total value of $109,252.50. Following the sale, the insider now owns 2,443 shares of the company’s stock, valued at $1,067,615.43. This trade represents a 9.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Mike Spanos bought 256 shares of the stock in a transaction on Thursday, March 13th. The stock was acquired at an average cost of $390.54 per share, for a total transaction of $99,978.24. Following the acquisition, the director now directly owns 3,356 shares in the company, valued at approximately $1,310,652.24. The trade was a 8.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.56% of the stock is currently owned by insiders.

Casey’s General Stores 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.