City State Bank Cuts Holdings in Casey’s General Stores, Inc. (NASDAQ:CASY)

City State Bank reduced its position in Casey’s General Stores, Inc. (NASDAQ:CASYFree Report) by 13.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,446 shares of the company’s stock after selling 227 shares during the quarter. City State Bank’s holdings in Casey’s General Stores were worth $460,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in CASY. Rise Advisors LLC purchased a new position in Casey’s General Stores in the first quarter valued at about $30,000. BKM Wealth Management LLC acquired a new stake in shares of Casey’s General Stores during the fourth quarter valued at about $29,000. V Square Quantitative Management LLC acquired a new stake in shares of Casey’s General Stores during the fourth quarter valued at about $35,000. McGlone Suttner Wealth Management Inc. acquired a new position in Casey’s General Stores in the fourth quarter worth about $36,000. Finally, ICA Group Wealth Management LLC acquired a new position in Casey’s General Stores in the fourth quarter worth about $41,000. 85.63% of the stock is owned by hedge funds and other institutional investors.

Casey’s General Stores Stock Performance

Shares of CASY traded up $3.36 during trading hours on Friday, reaching $371.77. 438,051 shares of the company traded hands, compared to its average volume of 350,059. The stock’s fifty day moving average is $334.17 and its 200 day moving average is $305.88. The stock has a market cap of $13.76 billion, a P/E ratio of 27.68, a price-to-earnings-growth ratio of 2.67 and a beta of 0.83. 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, Inc. has a 1-year low of $221.36 and a 1-year high of $389.43.

Casey’s General Stores (NASDAQ:CASYGet Free Report) last posted its earnings results on Tuesday, June 11th. The company reported $2.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.64. The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.47 billion. Casey’s General Stores had a net margin of 3.38% and a return on equity of 17.25%. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.49 earnings per share. Equities research analysts anticipate that Casey’s General Stores, Inc. will post 14.18 earnings per share for the current fiscal year.

Casey’s General Stores Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CASY shares. Jefferies Financial Group lifted their price target on Casey’s General Stores from $342.00 to $445.00 and gave the stock a “buy” rating in a research note on Wednesday, June 12th. Evercore ISI dropped their target price on Casey’s General Stores from $350.00 to $345.00 and set an “outperform” rating on the stock in a report on Tuesday, April 16th. Wells Fargo & Company boosted their target price on Casey’s General Stores from $340.00 to $415.00 and gave the stock an “overweight” rating in a report on Thursday, June 13th. BMO Capital Markets upped their price target on Casey’s General Stores from $305.00 to $400.00 and gave the company a “market perform” rating in a report on Thursday, June 13th. Finally, StockNews.com cut Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a report on Thursday. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $380.11.

Get Our Latest Analysis on CASY

Casey’s General Stores Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Casey's General Stores (NASDAQ:CASY)

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