Bank of New York Mellon Corp Sells 52,954 Shares of Casey’s General Stores, Inc. $CASY

Bank of New York Mellon Corp trimmed its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 11.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 418,218 shares of the company’s stock after selling 52,954 shares during the quarter. Bank of New York Mellon Corp’s holdings in Casey’s General Stores were worth $236,427,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of CASY. Vontobel Holding Ltd. boosted its holdings in Casey’s General Stores by 129.1% in the third quarter. Vontobel Holding Ltd. now owns 890,884 shares of the company’s stock worth $503,635,000 after acquiring an additional 502,104 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Casey’s General Stores by 0.3% during the second quarter. Franklin Resources Inc. now owns 708,893 shares of the company’s stock valued at $361,727,000 after buying an additional 2,467 shares during the last quarter. Invesco Ltd. raised its position in Casey’s General Stores by 71.7% in the 2nd quarter. Invesco Ltd. now owns 483,907 shares of the company’s stock valued at $246,923,000 after buying an additional 202,033 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Casey’s General Stores by 9.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 448,919 shares of the company’s stock worth $229,070,000 after acquiring an additional 37,625 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Casey’s General Stores in the second quarter valued at about $210,151,000. Institutional investors and hedge funds own 85.63% of the company’s stock.

Casey’s General Stores Stock Performance

CASY stock opened at $606.50 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.05 and a quick ratio of 0.65. Casey’s General Stores, Inc. has a 1 year low of $372.08 and a 1 year high of $647.99. The company has a market cap of $22.48 billion, a P/E ratio of 37.30, a price-to-earnings-growth ratio of 2.16 and a beta of 0.67. The stock’s fifty day moving average price is $579.60 and its 200-day moving average price is $548.48.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Tuesday, December 9th. The company reported $5.53 earnings per share for the quarter, beating analysts’ consensus estimates of $4.92 by $0.61. The firm had revenue of $4.51 billion for the quarter, compared to analysts’ expectations of $4.51 billion. Casey’s General Stores had a return on equity of 16.89% and a net margin of 3.58%.The business’s quarterly revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the firm earned $4.85 EPS. On average, equities analysts forecast that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey’s General Stores Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Sunday, February 1st will be issued a $0.57 dividend. The ex-dividend date is Friday, January 30th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.4%. Casey’s General Stores’s payout ratio is 14.02%.

Insider Activity

In related news, Director Moats Maria Castanon bought 300 shares of the business’s stock in a transaction dated Monday, January 5th. The shares were purchased at an average price of $554.66 per share, with a total value of $166,398.00. Following the transaction, the director owned 803 shares in the company, valued at $445,391.98. This trade represents a 59.64% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on CASY shares. Bank of America started coverage on shares of Casey’s General Stores in a report on Friday, January 9th. They set a “buy” rating for the company. KeyCorp set a $680.00 price objective on shares of Casey’s General Stores in a research report on Monday. Wall Street Zen lowered shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a report on Saturday. Northcoast Research lowered shares of Casey’s General Stores from a “buy” rating to a “neutral” rating in a report on Wednesday, January 21st. Finally, Wells Fargo & Company raised their target price on shares of Casey’s General Stores from $610.00 to $625.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 2nd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Casey’s General Stores presently has an average rating of “Moderate Buy” and a consensus price target of $624.09.

Casey’s General Stores Company 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.