Huntington National Bank Grows Stock Position in Casey’s General Stores, Inc. (NASDAQ:CASY)

Huntington National Bank increased its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 18.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 771 shares of the company’s stock after purchasing an additional 121 shares during the quarter. Huntington National Bank’s holdings in Casey’s General Stores were worth $305,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in shares of Casey’s General Stores in the fourth quarter worth about $236,500,000. Norges Bank acquired a new position in shares of Casey’s General Stores during the 4th quarter worth approximately $175,607,000. Wellington Management Group LLP grew its position in shares of Casey’s General Stores by 160.1% in the fourth quarter. Wellington Management Group LLP now owns 428,201 shares of the company’s stock valued at $169,666,000 after purchasing an additional 263,545 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Casey’s General Stores by 49.9% in the third quarter. Franklin Resources Inc. now owns 524,237 shares of the company’s stock valued at $204,861,000 after purchasing an additional 174,586 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Casey’s General Stores by 18.7% during the third quarter. JPMorgan Chase & Co. now owns 758,804 shares of the company’s stock worth $285,090,000 after buying an additional 119,350 shares in the last quarter. 85.63% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Royal Bank of Canada set a $438.00 target price on Casey’s General Stores and gave the stock a “sector perform” rating in a research note on Wednesday, March 12th. Evercore ISI lifted their target price on shares of Casey’s General Stores from $450.00 to $460.00 and gave the stock an “outperform” rating in a research note on Tuesday. BMO Capital Markets reissued a “market perform” rating and issued a $450.00 price target (up previously from $400.00) on shares of Casey’s General Stores in a research note on Wednesday, December 18th. Gordon Haskett raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Finally, StockNews.com lowered Casey’s General Stores from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $424.00.

Insider Activity at Casey’s General Stores

In other Casey’s General Stores news, Director Mike Spanos purchased 256 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was bought at an average cost of $390.54 per share, with a total value of $99,978.24. Following the acquisition, the director now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.56% of the stock is owned by corporate insiders.

Casey’s General Stores Price Performance

CASY opened at $415.82 on Friday. The firm has a market cap of $15.43 billion, a price-to-earnings ratio of 28.98, a PEG ratio of 2.40 and a beta of 0.74. 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 stock’s 50-day moving average price is $416.73 and its 200 day moving average price is $404.81. Casey’s General Stores, Inc. has a 12-month low of $306.45 and a 12-month high of $458.92.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Tuesday, March 11th. The company reported $2.33 EPS for the quarter, beating the consensus estimate of $1.76 by $0.57. The business had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.74 billion. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. The business’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.33 earnings per share. As a group, sell-side analysts expect that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey’s General Stores Announces Dividend

The business also recently declared 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. This represents a $2.00 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date is Thursday, May 1st. Casey’s General Stores’s dividend payout ratio is currently 13.94%.

Casey’s General Stores Company Profile

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.