Casey’s General Stores, Inc. $CASY Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its position in Casey’s General Stores, Inc. (NASDAQ:CASY) by 8.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 471,172 shares of the company’s stock after selling 44,431 shares during the period. Bank of New York Mellon Corp’s holdings in Casey’s General Stores were worth $240,425,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CASY. Wellington Management Group LLP raised its position in shares of Casey’s General Stores by 190.6% in the first quarter. Wellington Management Group LLP now owns 1,244,311 shares of the company’s stock valued at $540,081,000 after buying an additional 816,110 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Casey’s General Stores by 42.0% in the first quarter. JPMorgan Chase & Co. now owns 1,036,426 shares of the company’s stock valued at $449,851,000 after buying an additional 306,628 shares during the last quarter. Third Point LLC acquired a new position in shares of Casey’s General Stores in the first quarter valued at approximately $130,212,000. Nuveen LLC acquired a new position in Casey’s General Stores during the first quarter worth approximately $76,467,000. Finally, Alyeska Investment Group L.P. acquired a new position in Casey’s General Stores during the first quarter worth approximately $65,298,000. Institutional investors and hedge funds own 85.63% of the company’s stock.

Insider Buying and Selling at Casey’s General Stores

In other news, insider Chad Michael Frazell sold 3,487 shares of the company’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $555.40, for a total value of $1,936,679.80. Following the completion of the transaction, the insider directly owned 7,993 shares in the company, valued at approximately $4,439,312.20. This represents a 30.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.54% of the company’s stock.

Casey’s General Stores Price Performance

Shares of CASY stock opened at $525.64 on Thursday. The company has a market capitalization of $19.54 billion, a PE ratio of 33.74 and a beta of 0.68. The firm has a fifty day simple moving average of $540.34 and a 200-day simple moving average of $506.66. The company has a current ratio of 1.03, a quick ratio of 0.61 and a debt-to-equity ratio of 0.65. Casey’s General Stores, Inc. has a twelve month low of $372.08 and a twelve month high of $572.18.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Monday, September 8th. The company reported $5.77 earnings per share for the quarter, beating the consensus estimate of $5.02 by $0.75. The business had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.47 billion. Casey’s General Stores had a net margin of 3.54% and a return on equity of 16.73%. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.83 earnings per share. Equities research analysts anticipate that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey’s General Stores Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Saturday, November 1st will be paid a $0.57 dividend. The ex-dividend date is Friday, October 31st. This represents a $2.28 annualized dividend and a dividend yield of 0.4%. Casey’s General Stores’s dividend payout ratio is 14.63%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CASY shares. Jefferies Financial Group upped their price target on shares of Casey’s General Stores from $575.00 to $600.00 and gave the stock a “buy” rating in a research report on Tuesday, September 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Casey’s General Stores in a research report on Wednesday, October 8th. Zacks Research raised shares of Casey’s General Stores from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 15th. KeyCorp upped their price target on shares of Casey’s General Stores from $550.00 to $575.00 and gave the stock an “overweight” rating in a research report on Friday, July 25th. Finally, Evercore ISI upped their price target on shares of Casey’s General Stores from $580.00 to $585.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $564.00.

Casey’s General Stores 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.