Commerce Bank Sells 738 Shares of Casey’s General Stores, Inc. (NASDAQ:CASY)

Commerce Bank decreased its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 5.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,690 shares of the company’s stock after selling 738 shares during the period. Commerce Bank’s holdings in Casey’s General Stores were worth $4,632,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James Financial Inc. bought a new position in Casey’s General Stores during the 4th quarter valued at approximately $236,500,000. Norges Bank purchased a new position in Casey’s General Stores in the fourth quarter worth about $175,607,000. Wellington Management Group LLP raised its holdings in Casey’s General Stores by 160.1% in the fourth quarter. Wellington Management Group LLP now owns 428,201 shares of the company’s stock worth $169,666,000 after buying an additional 263,545 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Casey’s General Stores by 49.9% in the third quarter. Franklin Resources Inc. now owns 524,237 shares of the company’s stock worth $204,861,000 after buying an additional 174,586 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Casey’s General Stores by 18.7% during the third quarter. JPMorgan Chase & Co. now owns 758,804 shares of the company’s stock valued at $285,090,000 after buying an additional 119,350 shares during the last quarter. Institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Stock Up 0.6 %

Shares of CASY stock opened at $460.07 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.49 and a debt-to-equity ratio of 0.74. Casey’s General Stores, Inc. has a 12 month low of $309.51 and a 12 month high of $468.88. The stock has a market cap of $17.08 billion, a P/E ratio of 32.06, a P/E/G ratio of 2.40 and a beta of 0.74. The company has a 50 day simple moving average of $421.46 and a two-hundred day simple moving average of $411.06.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Tuesday, March 11th. The company reported $2.33 EPS for the quarter, topping the consensus estimate of $1.76 by $0.57. The firm had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.74 billion. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. Casey’s General Stores’s revenue was up 17.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.33 EPS. On average, research analysts expect that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey’s General Stores Announces Dividend

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 given a dividend of $0.50 per share. The ex-dividend date is Thursday, May 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.43%. Casey’s General Stores’s payout ratio is currently 13.94%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CASY. Evercore ISI upped their price objective on Casey’s General Stores from $450.00 to $460.00 and gave the company an “outperform” rating in a research report on Tuesday, April 1st. Stephens raised Casey’s General Stores to a “strong-buy” rating in a report on Monday, April 7th. KeyCorp initiated coverage on Casey’s General Stores in a research report on Friday, April 11th. They set an “overweight” rating and a $500.00 price objective on the stock. Royal Bank of Canada set a $438.00 target price on Casey’s General Stores and gave the stock a “sector perform” rating in a research report on Wednesday, March 12th. Finally, Gordon Haskett raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. 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 two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $430.33.

Insider Activity at Casey’s General Stores

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