Casey’s General Stores Inc (CASY) Shares Sold by Comerica Bank

Comerica Bank lowered its stake in shares of Casey’s General Stores Inc (NASDAQ:CASY) by 6.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 70,495 shares of the company’s stock after selling 4,604 shares during the period. Comerica Bank owned about 0.19% of Casey’s General Stores worth $8,887,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in CASY. Kwmg LLC purchased a new stake in shares of Casey’s General Stores in the second quarter valued at about $106,000. Parallel Advisors LLC purchased a new stake in shares of Casey’s General Stores in the third quarter valued at about $139,000. Northwest Wealth Management LLC lifted its holdings in shares of Casey’s General Stores by 43.5% in the third quarter. Northwest Wealth Management LLC now owns 1,650 shares of the company’s stock valued at $213,000 after purchasing an additional 500 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new stake in shares of Casey’s General Stores in the second quarter valued at about $204,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Casey’s General Stores in the third quarter valued at about $310,000. 95.88% of the stock is currently owned by hedge funds and other institutional investors.

In related news, SVP Brian Joseph Johnson sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $127.43, for a total transaction of $191,145.00. Following the completion of the transaction, the senior vice president now owns 10,471 shares of the company’s stock, valued at $1,334,319.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.72% of the company’s stock.

NASDAQ:CASY opened at $130.54 on Friday. The company has a quick ratio of 0.27, a current ratio of 0.77 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $4.73 billion, a PE ratio of 34.26, a PEG ratio of 3.27 and a beta of 0.51. Casey’s General Stores Inc has a 1-year low of $90.42 and a 1-year high of $133.07.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Monday, September 10th. The company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.23. Casey’s General Stores had a net margin of 3.73% and a return on equity of 12.38%. The business had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same quarter in the previous year, the business posted $1.46 earnings per share. The company’s revenue was up 23.6% on a year-over-year basis. Research analysts anticipate that Casey’s General Stores Inc will post 4.65 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, November 1st will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 0.89%. The ex-dividend date is Wednesday, October 31st. Casey’s General Stores’s dividend payout ratio (DPR) is 30.45%.

A number of research firms have recently weighed in on CASY. Stephens set a $137.00 price objective on shares of Casey’s General Stores and gave the company a “buy” rating in a research report on Wednesday, September 12th. BidaskClub raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Friday, September 7th. BMO Capital Markets boosted their price objective on shares of Casey’s General Stores from $92.00 to $96.00 and gave the company a “hold” rating in a research report on Thursday, August 23rd. ValuEngine raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Wednesday, August 22nd. Finally, Northcoast Research raised shares of Casey’s General Stores from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 18th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $133.89.

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About Casey’s General Stores

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. The company's stores offer a selection of food, including freshly prepared foods, such as pizza, donuts, and sandwiches; beverage and tobacco products; health and beauty aids; automotive products; school supplies, housewares, and pet supplies; and other nonfood items.

See Also: Price to Earnings Ratio (PE) Basics

Institutional Ownership by Quarter for Casey`s General Stores (NASDAQ:CASY)

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