Zurcher Kantonalbank Zurich Cantonalbank Grows Stake in Casey’s General Stores, Inc. (NASDAQ:CASY)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 13.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,426 shares of the company’s stock after purchasing an additional 1,153 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Casey’s General Stores were worth $3,735,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. YANKCOM Partnership acquired a new stake in Casey’s General Stores in the 4th quarter worth approximately $34,000. Endeavor Private Wealth Inc. acquired a new stake in shares of Casey’s General Stores during the fourth quarter worth $36,000. Venturi Wealth Management LLC grew its holdings in shares of Casey’s General Stores by 941.7% during the third quarter. Venturi Wealth Management LLC now owns 125 shares of the company’s stock valued at $47,000 after buying an additional 113 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Casey’s General Stores by 24.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 149 shares of the company’s stock valued at $59,000 after buying an additional 29 shares during the last quarter. Finally, Heck Capital Advisors LLC purchased a new position in Casey’s General Stores in the 4th quarter worth $79,000. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Insider Activity

In related news, Director Mike Spanos purchased 500 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were purchased at an average cost of $396.76 per share, with a total value of $198,380.00. Following the purchase, the director now owns 3,097 shares of the company’s stock, valued at $1,228,765.72. This represents a 19.25 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Evercore ISI dropped 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. Royal Bank of Canada set a $438.00 price target on shares of Casey’s General Stores and gave the stock a “sector perform” rating in a research report on Wednesday. Gordon Haskett raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. StockNews.com cut shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $450.00 price target (up from $400.00) on shares of Casey’s General Stores in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $423.09.

Casey’s General Stores Price Performance

Shares of Casey’s General Stores stock opened at $395.63 on Friday. The firm has a market cap of $14.69 billion, a PE ratio of 27.57, a P/E/G ratio of 2.40 and a beta of 0.87. The business has a 50-day moving average price of $409.52 and a 200 day moving average price of $399.85. The company has a quick ratio of 0.49, a current ratio of 0.88 and a debt-to-equity ratio of 0.74. Casey’s General Stores, Inc. has a twelve month low of $303.95 and a twelve month high of $445.17.

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 analysts’ consensus estimates of $1.76 by $0.57. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. The business had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.74 billion. During the same period in the previous year, the business earned $2.33 earnings per share. The business’s revenue was up 17.2% compared to the same quarter last year. Sell-side analysts predict that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey’s General Stores Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders 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 annualized dividend and a dividend yield of 0.51%. Casey’s General Stores’s dividend payout ratio (DPR) is 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.