Casey’s General Stores, Inc. (NASDAQ:CASY) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its holdings in Casey’s General Stores, Inc. (NASDAQ:CASY) by 7.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,863 shares of the company’s stock after acquiring an additional 1,138 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Casey’s General Stores were worth $6,285,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CASY. QRG Capital Management Inc. acquired a new stake in Casey’s General Stores in the 3rd quarter valued at approximately $209,000. Atria Investments Inc boosted its stake in Casey’s General Stores by 3.2% during the 3rd quarter. Atria Investments Inc now owns 3,198 shares of the company’s stock valued at $1,201,000 after purchasing an additional 100 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in Casey’s General Stores by 941.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 125 shares of the company’s stock valued at $47,000 after purchasing an additional 113 shares in the last quarter. Entropy Technologies LP bought a new stake in shares of Casey’s General Stores in the 3rd quarter worth $251,000. Finally, Harbour Investments Inc. raised its stake in shares of Casey’s General Stores by 9.8% in the 3rd quarter. Harbour Investments Inc. now owns 972 shares of the company’s stock worth $365,000 after buying an additional 87 shares in the last quarter. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Casey’s General Stores

In other news, Director Mike Spanos acquired 500 shares of Casey’s General Stores stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average price of $396.76 per share, with a total value of $198,380.00. Following the completion of the transaction, the director now owns 3,097 shares in the company, valued at approximately $1,228,765.72. This trade represents a 19.25 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

CASY has been the topic of a number of research reports. Evercore ISI dropped their price objective on Casey’s General Stores from $460.00 to $450.00 and set an “outperform” rating on the stock in a research note on Tuesday. BMO Capital Markets reissued a “market perform” rating and issued a $450.00 price objective (up previously from $400.00) on shares of Casey’s General Stores in a research note on Wednesday, December 18th. Gordon Haskett raised Casey’s General Stores from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. StockNews.com downgraded Casey’s General Stores from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Finally, Royal Bank of Canada set a $438.00 price objective on Casey’s General Stores and gave the stock a “sector perform” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, three have issued 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 a consensus target price of $423.09.

Casey’s General Stores Stock Performance

Shares of CASY stock opened at $402.07 on Thursday. Casey’s General Stores, Inc. has a 1-year low of $290.00 and a 1-year high of $445.17. The company has a current ratio of 0.88, a quick ratio of 0.49 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $14.92 billion, a price-to-earnings ratio of 28.02, a P/E/G ratio of 2.40 and a beta of 0.87. The stock’s fifty day simple moving average is $409.76 and its 200-day simple moving average is $399.63.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Tuesday, March 11th. The company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.57. The business had revenue of $3.90 billion for 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%. Casey’s General Stores’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.33 earnings per share. On average, sell-side analysts predict that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey’s General Stores Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors 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 yield of 0.50%. Casey’s General Stores’s payout ratio is 13.94%.

About Casey’s General Stores

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.