Truist Financial Corp Sells 7,696 Shares of Casey’s General Stores, Inc. (NASDAQ:CASY)

Truist Financial Corp lessened its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 14.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,220 shares of the company’s stock after selling 7,696 shares during the period. Truist Financial Corp owned approximately 0.12% of Casey’s General Stores worth $12,424,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in CASY. BKM Wealth Management LLC bought a new stake in shares of Casey’s General Stores in the fourth quarter valued at approximately $29,000. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Casey’s General Stores in the fourth quarter valued at approximately $36,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Casey’s General Stores in the third quarter valued at approximately $38,000. Milestone Investment Advisors LLC bought a new stake in shares of Casey’s General Stores in the third quarter valued at approximately $43,000. Finally, Blue Trust Inc. boosted its stake in shares of Casey’s General Stores by 81.7% in the fourth quarter. Blue Trust Inc. now owns 169 shares of the company’s stock valued at $46,000 after buying an additional 76 shares during the period. Institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Stock Down 0.3 %

Shares of NASDAQ:CASY opened at $318.66 on Thursday. 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 $324.40. The company has a market capitalization of $11.80 billion, a PE ratio of 25.33, a price-to-earnings-growth ratio of 2.59 and a beta of 0.83. The company has a fifty day moving average of $309.33 and a 200-day moving average of $288.56.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data 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 firm posted $2.36 earnings per share. Casey’s General Stores’s revenue for the quarter was down .1% on a year-over-year basis. On average, equities analysts predict that Casey’s General Stores, Inc. will post 12.81 EPS for the current fiscal year.

Casey’s General Stores Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be paid a $0.43 dividend. The ex-dividend date is Tuesday, April 30th. This represents a $1.72 annualized dividend and a dividend yield of 0.54%. Casey’s General Stores’s dividend payout ratio is 13.67%.

Wall Street Analyst Weigh In

Several research analysts have commented on CASY shares. Evercore ISI lowered 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 research report on Tuesday, April 16th. Benchmark restated a “buy” rating and set a $312.00 price objective on shares of Casey’s General Stores in a research report on Wednesday, March 6th. StockNews.com downgraded shares of Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 21st. BMO Capital Markets boosted their price objective on shares of Casey’s General Stores from $290.00 to $305.00 and gave the company a “market perform” rating in a research report on Wednesday, March 13th. Finally, Wells Fargo & Company boosted their price objective 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. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $312.63.

About Casey’s General Stores

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.