Comerica Bank Raises Stock Holdings in Casey’s General Stores, Inc. $CASY

Comerica Bank increased its position in Casey’s General Stores, Inc. (NASDAQ:CASY) by 7.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,000 shares of the company’s stock after purchasing an additional 852 shares during the period. Comerica Bank’s holdings in Casey’s General Stores were worth $7,185,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Foster Dykema Cabot & Partners LLC purchased a new stake in shares of Casey’s General Stores in the 3rd quarter worth approximately $25,000. Westside Investment Management Inc. grew its stake in shares of Casey’s General Stores by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 46 shares of the company’s stock worth $26,000 after buying an additional 23 shares during the last quarter. Central Pacific Bank Trust Division grew its stake in shares of Casey’s General Stores by 52.8% in the 4th quarter. Central Pacific Bank Trust Division now owns 55 shares of the company’s stock worth $30,000 after buying an additional 19 shares during the last quarter. True Wealth Design LLC grew its stake in shares of Casey’s General Stores by 350.0% in the 4th quarter. True Wealth Design LLC now owns 54 shares of the company’s stock worth $30,000 after buying an additional 42 shares during the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new stake in shares of Casey’s General Stores in the 3rd quarter worth approximately $33,000. 85.63% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CASY has been the topic of several recent research reports. Stephens restated an “overweight” rating and issued a $680.00 price target on shares of Casey’s General Stores in a research note on Tuesday, March 10th. Royal Bank Of Canada upped their price target on Casey’s General Stores from $662.00 to $713.00 and gave the stock a “sector perform” rating in a research note on Tuesday, March 10th. The Goldman Sachs Group upped their price target on Casey’s General Stores from $530.00 to $605.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 11th. Northcoast Research downgraded Casey’s General Stores from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 21st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Casey’s General Stores in a research note on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Casey’s General Stores currently has a consensus rating of “Moderate Buy” and an average target price of $725.09.

Insiders Place Their Bets

In other Casey’s General Stores news, Director Mike Spanos bought 300 shares of Casey’s General Stores stock in a transaction on Friday, March 13th. The stock was acquired at an average price of $665.43 per share, with a total value of $199,629.00. Following the acquisition, the director owned 4,499 shares in the company, valued at approximately $2,993,769.57. This trade represents a 7.14% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Katrina S. Lindsey sold 200 shares of Casey’s General Stores stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $683.04, for a total value of $136,608.00. Following the completion of the sale, the insider directly owned 4,039 shares of the company’s stock, valued at approximately $2,758,798.56. The trade was a 4.72% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.54% of the stock is currently owned by company insiders.

Casey’s General Stores Stock Down 0.4%

Casey’s General Stores stock opened at $781.50 on Thursday. The firm has a market cap of $28.88 billion, a price-to-earnings ratio of 44.86, a PEG ratio of 2.62 and a beta of 0.61. The stock has a fifty day simple moving average of $715.05 and a two-hundred day simple moving average of $625.60. Casey’s General Stores, Inc. has a 12 month low of $430.00 and a 12 month high of $806.49. The company has a current ratio of 1.04, a quick ratio of 0.64 and a debt-to-equity ratio of 0.61.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Monday, March 9th. The company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $2.94 by $0.55. The business had revenue of $3.92 billion during the quarter, compared to analyst estimates of $4.08 billion. Casey’s General Stores had a return on equity of 17.56% and a net margin of 3.83%.The company’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter last year, the company earned $2.33 EPS. Equities analysts predict that Casey’s General Stores, Inc. will post 18.1 EPS for the current fiscal year.

Casey’s General Stores Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 1st will be issued a $0.57 dividend. The ex-dividend date of this dividend is Friday, May 1st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.3%. Casey’s General Stores’s dividend payout ratio (DPR) is presently 13.09%.

Casey’s General Stores Company Profile

Casey’s General Stores, Inc (NASDAQ: CASY) is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.