PNC Financial Services Group Inc. Buys 2,540 Shares of Casey’s General Stores, Inc. $CASY

PNC Financial Services Group Inc. increased its stake in Casey’s General Stores, Inc. (NASDAQ:CASY) by 1.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 143,031 shares of the company’s stock after acquiring an additional 2,540 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Casey’s General Stores were worth $104,107,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Allen Investment Management LLC bought a new position in Casey’s General Stores during the 1st quarter worth approximately $229,000. Commonwealth Financial Services LLC lifted its position in shares of Casey’s General Stores by 9.5% in the 1st quarter. Commonwealth Financial Services LLC now owns 518 shares of the company’s stock worth $377,000 after purchasing an additional 45 shares during the period. Meeder Asset Management Inc. boosted its stake in shares of Casey’s General Stores by 207,000.0% in the 1st quarter. Meeder Asset Management Inc. now owns 12,426 shares of the company’s stock valued at $9,044,000 after purchasing an additional 12,420 shares during the last quarter. KBC Group NV boosted its stake in shares of Casey’s General Stores by 250.1% in the 1st quarter. KBC Group NV now owns 3,536 shares of the company’s stock valued at $2,574,000 after purchasing an additional 2,526 shares during the last quarter. Finally, Swiss National Bank increased its position in shares of Casey’s General Stores by 48.4% during the first quarter. Swiss National Bank now owns 108,767 shares of the company’s stock worth $79,167,000 after buying an additional 35,480 shares during the period. 85.63% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CASY. Stephens set a $975.00 target price on shares of Casey’s General Stores and gave the stock an “overweight” rating in a research note on Friday, June 12th. 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. The Goldman Sachs Group increased their price target on Casey’s General Stores from $695.00 to $795.00 and gave the stock a “neutral” rating in a report on Thursday, June 25th. KeyCorp lifted their price objective on Casey’s General Stores from $950.00 to $970.00 and gave the stock an “overweight” rating in a research report on Thursday, June 11th. Finally, Wells Fargo & Company lifted their price objective on Casey’s General Stores from $910.00 to $960.00 and gave the stock an “overweight” rating in a research report on Thursday, June 11th. Fourteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $940.00.

Casey’s General Stores Stock Performance

Shares of CASY stock opened at $856.74 on Thursday. The company has a market cap of $31.71 billion, a price-to-earnings ratio of 44.72, a price-to-earnings-growth ratio of 2.57 and a beta of 0.62. Casey’s General Stores, Inc. has a 52 week low of $490.00 and a 52 week high of $927.85. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. The firm has a 50 day moving average of $821.53 and a 200-day moving average of $739.25.

Casey’s General Stores (NASDAQ:CASY) last released its earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.31 by $1.06. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. The company had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.33 billion. During the same quarter in the previous year, the company earned $2.63 EPS. Casey’s General Stores’s quarterly revenue was up 14.5% compared to the same quarter last year. On average, equities analysts forecast that Casey’s General Stores, Inc. will post 21.14 earnings per share for the current year.

Casey’s General Stores Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Saturday, August 1st will be issued a $0.65 dividend. The ex-dividend date is Friday, July 31st. This is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.57. This represents a $2.60 dividend on an annualized basis and a yield of 0.3%. Casey’s General Stores’s dividend payout ratio is 11.90%.

Insider Transactions at Casey’s General Stores

In other Casey’s General Stores news, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of Casey’s General Stores stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $838.16, for a total value of $4,777,512.00. Following the completion of the sale, the chief financial officer directly owned 29,677 shares of the company’s stock, valued at approximately $24,874,074.32. The trade was a 16.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Allison M. Wing sold 530 shares of the company’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $837.58, for a total transaction of $443,917.40. Following the transaction, the director owned 3,042 shares in the company, valued at $2,547,918.36. This represents a 14.84% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 30,243 shares of company stock valued at $24,421,877. 0.54% of the stock is owned by insiders.

Casey’s General Stores 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.