Bank of New York Mellon Corp Buys 53,125 Shares of Casey’s General Stores, Inc. $CASY

Bank of New York Mellon Corp grew its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 12.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 471,343 shares of the company’s stock after buying an additional 53,125 shares during the quarter. Bank of New York Mellon Corp’s holdings in Casey’s General Stores were worth $260,516,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. grew its stake in shares of Casey’s General Stores by 179,938.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,659,164 shares of the company’s stock worth $1,469,747,000 after buying an additional 2,657,687 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Casey’s General Stores by 35.4% in the third quarter. Victory Capital Management Inc. now owns 791,415 shares of the company’s stock worth $447,403,000 after purchasing an additional 206,777 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Casey’s General Stores by 7.4% in the fourth quarter. Geode Capital Management LLC now owns 760,438 shares of the company’s stock worth $420,416,000 after purchasing an additional 52,250 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Casey’s General Stores by 7.0% in the third quarter. Franklin Resources Inc. now owns 758,212 shares of the company’s stock worth $428,632,000 after purchasing an additional 49,319 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Casey’s General Stores by 5.0% in the third quarter. Invesco Ltd. now owns 507,998 shares of the company’s stock worth $287,182,000 after purchasing an additional 24,091 shares during the last quarter. Institutional investors own 85.63% of the company’s stock.

Insider Transactions at Casey’s General Stores

In other Casey’s General Stores news, Director Mike Spanos bought 300 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were bought at an average price of $665.43 per share, for a total transaction of $199,629.00. Following the acquisition, the director directly owned 4,499 shares of the company’s stock, valued at approximately $2,993,769.57. The trade was a 7.14% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Katrina S. Lindsey sold 200 shares of the company’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $683.04, for a total transaction of $136,608.00. Following the completion of the sale, the insider directly owned 4,039 shares of the company’s stock, valued at $2,758,798.56. The trade was a 4.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. The Goldman Sachs Group boosted their price objective on shares of Casey’s General Stores from $530.00 to $605.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 11th. William Blair began coverage on shares of Casey’s General Stores in a research report on Wednesday, May 20th. They set an “outperform” rating on the stock. KeyCorp upped their price target on shares of Casey’s General Stores from $830.00 to $860.00 and gave the company an “overweight” rating in a research report on Friday, April 24th. Wall Street Zen cut shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Finally, Wells Fargo & Company upped their price target on shares of Casey’s General Stores from $745.00 to $910.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Casey’s General Stores has a consensus rating of “Moderate Buy” and a consensus target price of $761.36.

Casey’s General Stores Price Performance

Shares of NASDAQ CASY opened at $761.57 on Friday. The firm’s 50-day moving average price is $787.40 and its 200-day moving average price is $674.78. Casey’s General Stores, Inc. has a 1-year low of $433.63 and a 1-year high of $901.00. The firm has a market capitalization of $28.15 billion, a P/E ratio of 43.72, a P/E/G ratio of 2.14 and a beta of 0.61. The company has a current ratio of 1.04, a quick ratio of 0.64 and a debt-to-equity ratio of 0.61.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Monday, March 9th. The company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $2.94 by $0.55. Casey’s General Stores had a net margin of 3.83% and a return on equity of 17.56%. The firm had revenue of $3.92 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the prior year, the business earned $2.33 earnings per share. The business’s quarterly revenue was up .3% compared to the same quarter last year. Equities research analysts anticipate that Casey’s General Stores, Inc. will post 18.19 earnings per share for the current fiscal year.

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.