PNC Financial Services Group Inc. Has $104.11 Million Stock Holdings in Casey’s General Stores, Inc. $CASY

PNC Financial Services Group Inc. raised its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 1.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 143,031 shares of the company’s stock after purchasing an additional 2,540 shares during the period. PNC Financial Services Group Inc. owned approximately 0.39% of Casey’s General Stores worth $104,107,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CASY. Kathmere Capital Management LLC increased its stake in shares of Casey’s General Stores by 3.5% in the 1st quarter. Kathmere Capital Management LLC now owns 387 shares of the company’s stock valued at $282,000 after purchasing an additional 13 shares during the last quarter. Pinnacle Bancorp Inc. lifted its position in shares of Casey’s General Stores by 4.8% during the 1st quarter. Pinnacle Bancorp Inc. now owns 303 shares of the company’s stock worth $221,000 after buying an additional 14 shares during the last quarter. Menard Financial Group LLC boosted its stake in Casey’s General Stores by 1.2% in the fourth quarter. Menard Financial Group LLC now owns 1,267 shares of the company’s stock valued at $700,000 after buying an additional 15 shares in the last quarter. Cibc World Market Inc. boosted its stake in Casey’s General Stores by 0.3% in the fourth quarter. Cibc World Market Inc. now owns 5,136 shares of the company’s stock valued at $2,839,000 after buying an additional 16 shares in the last quarter. Finally, FSB Premier Wealth Management Inc. grew its position in Casey’s General Stores by 0.8% in the fourth quarter. FSB Premier Wealth Management Inc. now owns 2,338 shares of the company’s stock valued at $1,292,000 after acquiring an additional 18 shares during the last quarter. 85.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on CASY. Wolfe Research reissued an “outperform” rating and set a $1,069.00 target price on shares of Casey’s General Stores in a research note on Thursday, June 11th. JPMorgan Chase & Co. raised their price target on shares of Casey’s General Stores from $719.00 to $975.00 and gave the company a “neutral” rating in a research note on Friday, June 12th. Royal Bank Of Canada lifted their price target on shares of Casey’s General Stores from $794.00 to $850.00 and gave the company a “sector perform” rating in a report on Thursday, June 25th. BNP Paribas Exane lowered their price objective on shares of Casey’s General Stores from $1,032.00 to $995.00 and set an “outperform” rating for the company in a research report on Thursday, June 25th. Finally, BMO Capital Markets raised shares of Casey’s General Stores from a “market perform” rating to an “outperform” rating and set a $950.00 price objective for the company in a research note on Monday, June 29th. Fourteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $940.00.

Casey’s General Stores Price Performance

Shares of CASY opened at $856.74 on Thursday. Casey’s General Stores, Inc. has a 12-month low of $490.00 and a 12-month high of $927.85. The business has a 50-day simple moving average of $821.53 and a two-hundred day simple moving average of $739.25. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. The stock has a market cap of $31.71 billion, a PE ratio of 44.72, a PEG ratio of 2.57 and a beta of 0.62.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, beating the consensus estimate of $3.31 by $1.06. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.The firm had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.33 billion. During the same period last year, the company earned $2.63 earnings per share. The business’s quarterly revenue was up 14.5% on a year-over-year basis. Analysts anticipate that Casey’s General Stores, Inc. will post 21.14 earnings per share for the current fiscal year.

Casey’s General Stores Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Saturday, August 1st will be issued a $0.65 dividend. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, July 31st. This represents a $2.60 dividend on an annualized basis and a yield of 0.3%. Casey’s General Stores’s dividend payout ratio (DPR) is 11.90%.

Insiders Place Their Bets

In related news, insider Chad Michael Frazell sold 3,013 shares of Casey’s General Stores stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $787.49, for a total transaction of $2,372,707.37. Following the sale, the insider directly owned 9,823 shares in the company, valued at $7,735,514.27. This trade represents a 23.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Katrina S. Lindsey sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $800.00, for a total transaction of $1,600,000.00. Following the sale, the insider directly owned 6,668 shares in the company, valued at $5,334,400. The trade was a 23.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 30,243 shares of company stock worth $24,421,877 over the last quarter. 0.54% of the stock is currently owned by corporate insiders.

Casey’s General Stores 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.