Franklin Resources Inc. Has $590.67 Million Position in Casey’s General Stores, Inc. $CASY

Franklin Resources Inc. raised its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 40.9% in the fourth quarter, Holdings Channel reports. The fund owned 1,068,682 shares of the company’s stock after acquiring an additional 310,470 shares during the period. Franklin Resources Inc.’s holdings in Casey’s General Stores were worth $590,671,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CASY. Northwestern Mutual Wealth Management Co. increased its position in shares of Casey’s General Stores by 179,938.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,659,164 shares of the company’s stock worth $1,469,747,000 after purchasing an additional 2,657,687 shares in the last quarter. Norges Bank bought a new stake in Casey’s General Stores during the fourth quarter worth about $265,163,000. Goldman Sachs Group Inc. grew its stake in Casey’s General Stores by 175.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 471,536 shares of the company’s stock worth $260,622,000 after buying an additional 300,249 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Casey’s General Stores by 35.4% during the third quarter. Victory Capital Management Inc. now owns 791,415 shares of the company’s stock worth $447,403,000 after buying an additional 206,777 shares in the last quarter. Finally, M&T Bank Corp raised its stake in shares of Casey’s General Stores by 15,024.5% in the fourth quarter. M&T Bank Corp now owns 193,140 shares of the company’s stock valued at $106,750,000 after acquiring an additional 191,863 shares during the last quarter. Institutional investors own 85.63% of the company’s stock.

Analyst Upgrades and Downgrades

CASY has been the topic of several recent analyst reports. Zacks Research raised Casey’s General Stores from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 23rd. Jefferies Financial Group lifted their price objective on Casey’s General Stores from $700.00 to $780.00 and gave the company a “buy” rating in a research report on Tuesday, March 10th. William Blair initiated coverage on Casey’s General Stores in a report on Wednesday, May 20th. They set an “outperform” rating on the stock. Stephens restated an “overweight” rating and issued a $680.00 target price on shares of Casey’s General Stores in a research note on Tuesday, March 10th. Finally, Royal Bank Of Canada lifted their price target on Casey’s General Stores from $662.00 to $713.00 and gave the company a “sector perform” rating in a report on Tuesday, March 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $761.36.

Insider Transactions at Casey’s General Stores

In related news, insider Katrina S. Lindsey sold 200 shares of Casey’s General Stores stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $683.04, for a total value of $136,608.00. Following the completion of the sale, the insider directly owned 4,039 shares in the company, valued at $2,758,798.56. This trade represents a 4.72% 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 the SEC website. Also, Director Mike Spanos bought 300 shares of the business’s stock in a transaction on Friday, March 13th. The shares were acquired at an average price of $665.43 per share, for a total transaction of $199,629.00. Following the completion of the transaction, the director owned 4,499 shares in the company, valued at approximately $2,993,769.57. This trade represents a 7.14% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.54% of the stock is owned by company insiders.

Casey’s General Stores Stock Performance

CASY stock opened at $751.63 on Tuesday. The company has a 50 day moving average price of $789.15 and a 200 day moving average price of $677.80. Casey’s General Stores, Inc. has a fifty-two week low of $433.63 and a fifty-two week high of $901.00. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.04 and a quick ratio of 0.64. The stock has a market capitalization of $27.78 billion, a PE ratio of 43.15, a price-to-earnings-growth ratio of 2.12 and a beta of 0.61.

Casey’s General Stores (NASDAQ:CASY) last released its earnings results on Monday, March 9th. The company reported $3.49 EPS for the quarter, beating the consensus estimate of $2.94 by $0.55. The company had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Casey’s General Stores had a return on equity of 17.56% and a net margin of 3.83%.The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same period last year, the firm earned $2.33 EPS. Analysts forecast that Casey’s General Stores, Inc. will post 18.16 EPS for the current 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.