Union Savings Bank Cuts Holdings in Casey’s General Stores, Inc. (NASDAQ:CASY)

Union Savings Bank lessened its stake in Casey’s General Stores, Inc. (NASDAQ:CASY) by 7.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,156 shares of the company’s stock after selling 89 shares during the period. Union Savings Bank’s holdings in Casey’s General Stores were worth $318,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Morgan Stanley boosted its stake in shares of Casey’s General Stores by 7.7% in the 3rd quarter. Morgan Stanley now owns 1,585,359 shares of the company’s stock valued at $430,458,000 after purchasing an additional 113,437 shares in the last quarter. FMR LLC boosted its stake in shares of Casey’s General Stores by 5.6% in the 3rd quarter. FMR LLC now owns 732,623 shares of the company’s stock valued at $198,922,000 after purchasing an additional 38,722 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Casey’s General Stores by 3.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 559,532 shares of the company’s stock valued at $151,924,000 after purchasing an additional 18,528 shares in the last quarter. Norges Bank purchased a new stake in Casey’s General Stores during the 4th quarter valued at $115,799,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Casey’s General Stores by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 265,915 shares of the company’s stock valued at $73,057,000 after buying an additional 6,867 shares during the period. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Wells Fargo & Company increased their price target on shares of Casey’s General Stores from $305.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. Evercore ISI decreased their price objective on shares of Casey’s General Stores from $350.00 to $345.00 and set an “outperform” rating for the company in a report on Tuesday, April 16th. Benchmark restated a “buy” rating and issued a $312.00 price objective on shares of Casey’s General Stores in a report on Wednesday, March 6th. Northcoast Research lowered shares of Casey’s General Stores from a “buy” rating to a “neutral” rating in a report on Wednesday, May 15th. Finally, BMO Capital Markets upped their price objective on shares of Casey’s General Stores from $290.00 to $305.00 and gave the stock a “market perform” rating in a report on Wednesday, March 13th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Casey’s General Stores presently has a consensus rating of “Moderate Buy” and a consensus price target of $312.63.

Casey’s General Stores Price Performance

Shares of Casey’s General Stores stock traded up $0.91 on Wednesday, hitting $337.08. 213,811 shares of the company traded hands, compared to its average volume of 279,583. The stock has a market capitalization of $12.48 billion, a P/E ratio of 26.86, a price-to-earnings-growth ratio of 2.43 and a beta of 0.82. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.42 and a current ratio of 0.89. Casey’s General Stores, Inc. has a 52 week low of $212.50 and a 52 week high of $344.01. The business has a 50-day simple moving average of $318.34 and a 200 day simple moving average of $295.06.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings results on Tuesday, March 12th. The company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.13. Casey’s General Stores had a net margin of 3.23% and a return on equity of 16.70%. The company had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.51 billion. During the same quarter in the previous year, the business posted $2.36 earnings per share. Casey’s General Stores’s quarterly revenue was down .1% on a year-over-year basis. Research analysts expect that Casey’s General Stores, Inc. will post 12.81 earnings per share for the current fiscal year.

Casey’s General Stores Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Tuesday, April 30th. Casey’s General Stores’s payout ratio is 13.67%.

Casey’s General Stores Profile

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. Its stores offer pizza, donuts, breakfast items, and sandwiches; and tobacco and nicotine products. The company's stores provide soft drinks, energy, water, sports drinks, juices, coffee, and tea and dairy products; beer, wine, and spirits; snacks, candy, packaged bakery, and other food items; ice, ice cream, meals, and appetizers; health and beauty aids, automotive products, electronic accessories, housewares, and pet supplies; and ATM, lotto/lottery, and prepaid cards.