Wells Fargo & Company MN Grows Position in Casey’s General Stores, Inc. (NASDAQ:CASY)

Wells Fargo & Company MN increased its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 30.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 100,279 shares of the company’s stock after buying an additional 23,541 shares during the period. Wells Fargo & Company MN owned about 0.27% of Casey’s General Stores worth $39,734,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CASY. Vanguard Group Inc. increased its stake in Casey’s General Stores by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 3,799,104 shares of the company’s stock valued at $1,505,319,000 after purchasing an additional 44,295 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Casey’s General Stores by 18.7% in the third quarter. JPMorgan Chase & Co. now owns 758,804 shares of the company’s stock valued at $285,090,000 after purchasing an additional 119,350 shares during the last quarter. Franklin Resources Inc. increased its stake in Casey’s General Stores by 29.5% in the fourth quarter. Franklin Resources Inc. now owns 678,778 shares of the company’s stock valued at $268,952,000 after purchasing an additional 154,541 shares during the last quarter. Geode Capital Management LLC increased its stake in Casey’s General Stores by 1.3% in the third quarter. Geode Capital Management LLC now owns 655,488 shares of the company’s stock valued at $246,335,000 after purchasing an additional 8,428 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Casey’s General Stores in the fourth quarter valued at approximately $236,500,000. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Casey’s General Stores Price Performance

Shares of NASDAQ CASY opened at $438.01 on Friday. The firm has a market capitalization of $16.26 billion, a P/E ratio of 30.52, a PEG ratio of 2.40 and a beta of 0.74. Casey’s General Stores, Inc. has a one year low of $306.60 and a one year high of $458.92. The company’s fifty day moving average is $417.71 and its two-hundred day moving average is $407.16. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.49 and a current ratio of 0.88.

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

Wall Street Analysts Forecast Growth

CASY has been the topic of a number of research reports. StockNews.com lowered shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Royal Bank of Canada set a $438.00 target price on shares of Casey’s General Stores and gave the stock a “sector perform” rating in a research report on Wednesday, March 12th. Stephens upgraded shares of Casey’s General Stores to a “strong-buy” rating in a research report on Monday. BMO Capital Markets restated 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, Evercore ISI raised their target price on shares of Casey’s General Stores from $450.00 to $460.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $424.00.

Insider Buying and Selling at Casey’s General Stores

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