Primecap Management Co. CA Has $33.40 Million Stock Holdings in Casey’s General Stores, Inc. (NASDAQ:CASY)

Primecap Management Co. CA increased its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 13.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 84,300 shares of the company’s stock after purchasing an additional 10,000 shares during the period. Primecap Management Co. CA owned approximately 0.23% of Casey’s General Stores worth $33,402,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CASY. KBC Group NV lifted its position in shares of Casey’s General Stores by 7.5% during the 3rd quarter. KBC Group NV now owns 945 shares of the company’s stock worth $355,000 after purchasing an additional 66 shares during the last quarter. CIBC Asset Management Inc increased its stake in Casey’s General Stores by 3.3% during the third quarter. CIBC Asset Management Inc now owns 1,078 shares of the company’s stock valued at $405,000 after acquiring an additional 34 shares during the period. Quest Partners LLC increased its stake in Casey’s General Stores by 17.7% during the third quarter. Quest Partners LLC now owns 644 shares of the company’s stock valued at $242,000 after acquiring an additional 97 shares during the period. GLOBALT Investments LLC GA increased its stake in Casey’s General Stores by 3.4% during the third quarter. GLOBALT Investments LLC GA now owns 2,576 shares of the company’s stock valued at $968,000 after acquiring an additional 85 shares during the period. Finally, Pathstone Holdings LLC increased its stake in Casey’s General Stores by 1.0% during the third quarter. Pathstone Holdings LLC now owns 4,871 shares of the company’s stock valued at $1,830,000 after acquiring an additional 48 shares during the period. Institutional investors and hedge funds own 85.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Gordon Haskett upgraded Casey’s General Stores from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. BMO Capital Markets restated a “market perform” rating and set a $450.00 price target (up from $400.00) on shares of Casey’s General Stores in a research note on Wednesday, December 18th. Evercore ISI lowered their price target 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, March 11th. StockNews.com lowered 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 company a “sector perform” rating in a research note on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $423.09.

Casey’s General Stores Stock Down 3.2 %

Shares of CASY opened at $386.89 on Wednesday. The company has a market capitalization of $14.36 billion, a P/E ratio of 26.96, a PEG ratio of 2.40 and a beta of 0.87. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.88 and a quick ratio of 0.49. Casey’s General Stores, Inc. has a one year low of $306.42 and a one year high of $445.17. The business’s 50 day simple moving average is $409.53 and its 200-day simple moving average is $400.54.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Tuesday, March 11th. The company reported $2.33 EPS for the quarter, topping the consensus estimate 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 was up 17.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.33 EPS. As a group, sell-side analysts predict that Casey’s General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey’s General Stores Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be given a $0.50 dividend. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $2.00 dividend on an annualized basis and a yield of 0.52%. Casey’s General Stores’s payout ratio is 13.94%.

Insider Buying and Selling at Casey’s General Stores

In other news, Director Mike Spanos acquired 256 shares of the firm’s stock in a transaction on Thursday, March 13th. The shares were purchased at an average cost of $390.54 per share, for a total transaction of $99,978.24. Following the transaction, the director now owns 3,356 shares of the company’s stock, valued at approximately $1,310,652.24. This represents a 8.26 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.56% of the company’s stock.

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.