Bank of America Corp DE Sells 17,922 Shares of Casey’s General Stores, Inc. (NASDAQ:CASY)

Bank of America Corp DE cut its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 11.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 141,948 shares of the company’s stock after selling 17,922 shares during the period. Bank of America Corp DE owned approximately 0.38% of Casey’s General Stores worth $56,244,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Natixis increased its stake in shares of Casey’s General Stores by 21.9% in the 4th quarter. Natixis now owns 8,337 shares of the company’s stock valued at $3,303,000 after acquiring an additional 1,499 shares during the last quarter. Sanctuary Advisors LLC grew its holdings in Casey’s General Stores by 55.6% during the fourth quarter. Sanctuary Advisors LLC now owns 8,579 shares of the company’s stock valued at $3,629,000 after purchasing an additional 3,065 shares during the period. Scholtz & Company LLC acquired a new position in Casey’s General Stores during the fourth quarter valued at approximately $2,375,000. JLB & Associates Inc. increased its stake in Casey’s General Stores by 1.8% in the fourth quarter. JLB & Associates Inc. now owns 43,029 shares of the company’s stock valued at $17,049,000 after purchasing an additional 749 shares in the last quarter. Finally, Segall Bryant & Hamill LLC raised its holdings in Casey’s General Stores by 9.1% in the fourth quarter. Segall Bryant & Hamill LLC now owns 53,330 shares of the company’s stock worth $21,131,000 after purchasing an additional 4,458 shares during the period. Institutional investors own 85.63% of the company’s stock.

Analysts Set New Price Targets

CASY has been the subject of a number of recent analyst reports. Royal Bank of Canada set a $438.00 price objective on shares of Casey’s General Stores and gave the company a “sector perform” rating in a research report on Wednesday, March 12th. Evercore ISI lifted their price objective on Casey’s General Stores from $450.00 to $460.00 and gave the company an “outperform” rating in a report on Tuesday, April 1st. Stephens upgraded Casey’s General Stores to a “strong-buy” rating in a research report on Monday, April 7th. KeyCorp began coverage on shares of Casey’s General Stores in a report on Friday, April 11th. They set an “overweight” rating and a $500.00 target price on the stock. Finally, StockNews.com lowered shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $430.33.

Insiders Place Their Bets

In related news, insider Katrina S. Lindsey sold 250 shares of the company’s stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $437.01, for a total value of $109,252.50. Following the transaction, the insider now directly owns 2,443 shares in the company, valued at approximately $1,067,615.43. This represents a 9.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mike Spanos purchased 256 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average cost of $390.54 per share, for a total transaction of $99,978.24. Following the completion of the transaction, the director now owns 3,356 shares of the company’s stock, valued at $1,310,652.24. This trade represents a 8.26% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.56% of the company’s stock.

Casey’s General Stores Stock Down 0.9%

Shares of CASY stock opened at $432.80 on Wednesday. Casey’s General Stores, Inc. has a 52-week low of $313.89 and a 52-week high of $474.97. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.49 and a current ratio of 0.88. The stock has a market cap of $16.07 billion, a price-to-earnings ratio of 30.16, a PEG ratio of 2.40 and a beta of 0.70. The firm’s 50-day moving average is $433.68 and its 200-day moving average is $418.93.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings data on Tuesday, March 11th. The company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.57. The firm had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.74 billion. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. The business’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.33 earnings per share. Sell-side analysts predict that Casey’s General Stores, Inc. will post 13.94 EPS for the current year.

Casey’s General Stores Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $2.00 annualized dividend and a yield of 0.46%. Casey’s General Stores’s dividend payout ratio is currently 13.94%.

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.