Bank of New York Mellon Corp Sells 28,868 Shares of Casey’s General Stores, Inc. $CASY

Bank of New York Mellon Corp trimmed its position in Casey’s General Stores, Inc. (NASDAQ:CASY) by 6.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 442,475 shares of the company’s stock after selling 28,868 shares during the quarter. Bank of New York Mellon Corp’s holdings in Casey’s General Stores were worth $322,059,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CASY. Illinois Municipal Retirement Fund grew its stake in shares of Casey’s General Stores by 11.9% during the first quarter. Illinois Municipal Retirement Fund now owns 20,519 shares of the company’s stock valued at $14,935,000 after buying an additional 2,183 shares during the last quarter. Journey Advisory Group LLC raised its holdings in shares of Casey’s General Stores by 5.2% during the first quarter. Journey Advisory Group LLC now owns 9,264 shares of the company’s stock valued at $6,743,000 after acquiring an additional 461 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Casey’s General Stores by 115.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 97 shares of the company’s stock worth $71,000 after purchasing an additional 52 shares during the period. Sanctuary Advisors LLC boosted its position in Casey’s General Stores by 5.8% during the 1st quarter. Sanctuary Advisors LLC now owns 22,026 shares of the company’s stock valued at $16,032,000 after acquiring an additional 1,217 shares in the last quarter. Finally, Sigma Planning Corp bought a new stake in shares of Casey’s General Stores during the first quarter valued at approximately $274,000. Institutional investors own 85.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CASY. Wall Street Zen upgraded shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Stephens set a $975.00 target price on shares of Casey’s General Stores and gave the company an “overweight” rating in a research note on Friday, June 12th. Zacks Research downgraded Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. Wolfe Research reaffirmed an “outperform” rating and set a $1,069.00 target price on shares of Casey’s General Stores in a report on Thursday, June 11th. Finally, Morgan Stanley upgraded Casey’s General Stores to a “buy” rating in a research report on Wednesday, June 10th. Fourteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $940.00.

Insider Transactions at Casey’s General Stores

In other Casey’s General Stores news, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the business’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $838.16, for a total value of $4,777,512.00. Following the completion of the transaction, the chief financial officer directly owned 29,677 shares of the company’s stock, valued at approximately $24,874,074.32. The trade was a 16.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Darren M. Rebelez sold 19,000 shares of the stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $801.46, for a total transaction of $15,227,740.00. Following the sale, the chief executive officer directly owned 89,174 shares in the company, valued at approximately $71,469,394.04. The trade was a 17.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 30,243 shares of company stock valued at $24,421,877. 0.54% of the stock is owned by corporate insiders.

Casey’s General Stores Stock Up 3.9%

Shares of CASY opened at $859.12 on Friday. The business’s 50 day simple moving average is $822.56 and its 200-day simple moving average is $731.65. Casey’s General Stores, Inc. has a 1 year low of $490.00 and a 1 year high of $927.85. The stock has a market capitalization of $31.80 billion, a price-to-earnings ratio of 44.84, a price-to-earnings-growth ratio of 2.48 and a beta of 0.62. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.60.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.31 by $1.06. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.The firm had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.33 billion. During the same period last year, the company earned $2.63 EPS. Casey’s General Stores’s quarterly revenue was up 14.5% compared to the same quarter last year. As a group, equities analysts expect that Casey’s General Stores, Inc. will post 21.14 earnings per share for the current fiscal year.

Casey’s General Stores Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Saturday, August 1st will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.3%. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, July 31st. Casey’s General Stores’s dividend payout ratio is presently 11.90%.

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.