Penobscot Investment Management Company Inc. Grows Stock Holdings in Casey’s General Stores, Inc. $CASY

Penobscot Investment Management Company Inc. increased its stake in Casey’s General Stores, Inc. (NASDAQ:CASY) by 60.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,463 shares of the company’s stock after purchasing an additional 2,051 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Casey’s General Stores were worth $3,088,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CASY. Vontobel Holding Ltd. lifted its holdings in shares of Casey’s General Stores by 129.1% in the third quarter. Vontobel Holding Ltd. now owns 890,884 shares of the company’s stock worth $503,635,000 after buying an additional 502,104 shares in the last quarter. Norges Bank purchased a new position in Casey’s General Stores during the second quarter valued at approximately $210,151,000. Third Point LLC bought a new stake in Casey’s General Stores during the 1st quarter worth approximately $130,212,000. Invesco Ltd. lifted its stake in Casey’s General Stores by 71.7% in the 2nd quarter. Invesco Ltd. now owns 483,907 shares of the company’s stock worth $246,923,000 after purchasing an additional 202,033 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in Casey’s General Stores by 4,224.4% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 174,705 shares of the company’s stock worth $89,147,000 after purchasing an additional 170,665 shares in the last quarter. 85.63% of the stock is currently owned by institutional investors.

Casey’s General Stores Trading Up 0.6%

CASY stock opened at $556.26 on Friday. The company has a market capitalization of $20.62 billion, a PE ratio of 34.21 and a beta of 0.67. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.65 and a current ratio of 1.05. Casey’s General Stores, Inc. has a one year low of $372.08 and a one year high of $575.98. The company’s 50 day moving average price is $549.31 and its two-hundred day moving average price is $535.13.

Casey’s General Stores (NASDAQ:CASY) last released its earnings results on Tuesday, December 9th. The company reported $5.53 EPS for the quarter, beating the consensus estimate of $4.92 by $0.61. Casey’s General Stores had a net margin of 3.58% and a return on equity of 16.89%. The company had revenue of $4.51 billion for the quarter, compared to analyst estimates of $4.51 billion. During the same quarter last year, the firm earned $4.85 EPS. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. As a group, analysts predict that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey’s General Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Sunday, February 1st will be given a $0.57 dividend. The ex-dividend date is Friday, January 30th. This represents a $2.28 annualized dividend and a yield of 0.4%. Casey’s General Stores’s payout ratio is presently 14.02%.

Analyst Ratings Changes

A number of research firms have recently commented on CASY. UBS Group restated a “neutral” rating on shares of Casey’s General Stores in a research report on Thursday, December 11th. Evercore ISI boosted their target price on Casey’s General Stores from $585.00 to $610.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 2nd. The Goldman Sachs Group restated a “neutral” rating and issued a $530.00 target price on shares of Casey’s General Stores in a research note on Wednesday, December 10th. Jefferies Financial Group raised their price target on Casey’s General Stores from $575.00 to $600.00 and gave the company a “buy” rating in a report on Tuesday, September 9th. Finally, BMO Capital Markets boosted their price objective on Casey’s General Stores from $515.00 to $540.00 and gave the stock a “market perform” rating in a report on Wednesday, September 10th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $585.67.

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.