Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Position in Casey’s General Stores, Inc. (NASDAQ:CASY)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 13.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,426 shares of the company’s stock after purchasing an additional 1,153 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Casey’s General Stores were worth $3,735,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. YANKCOM Partnership bought a new position in Casey’s General Stores during the fourth quarter valued at $34,000. Endeavor Private Wealth Inc. bought a new position in shares of Casey’s General Stores in the 4th quarter valued at about $36,000. Venturi Wealth Management LLC increased its stake in Casey’s General Stores by 941.7% during the third quarter. Venturi Wealth Management LLC now owns 125 shares of the company’s stock worth $47,000 after acquiring an additional 113 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Casey’s General Stores by 24.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 149 shares of the company’s stock valued at $59,000 after purchasing an additional 29 shares during the period. Finally, Heck Capital Advisors LLC bought a new stake in shares of Casey’s General Stores in the 4th quarter valued at approximately $79,000. 85.63% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CASY shares. Gordon Haskett upgraded Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. BMO Capital Markets restated a “market perform” rating and issued a $450.00 target price (up previously from $400.00) on shares of Casey’s General Stores in a report on Wednesday, December 18th. Evercore ISI cut their price target on shares of Casey’s General Stores from $460.00 to $450.00 and set an “outperform” rating on the stock in a report on Tuesday, March 11th. Royal Bank of Canada set a $438.00 price objective on shares of Casey’s General Stores and gave the stock a “sector perform” rating in a research note on Wednesday. Finally, StockNews.com cut Casey’s General Stores from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $423.09.

Insider Activity at Casey’s General Stores

In related news, Director Mike Spanos acquired 256 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average price of $390.54 per share, with a total value of $99,978.24. Following the completion of the transaction, the director now directly owns 3,356 shares in the company, valued at $1,310,652.24. This trade represents a 8.26 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.56% of the stock is currently owned by corporate insiders.

Casey’s General Stores Trading Up 2.8 %

CASY opened at $395.63 on Friday. Casey’s General Stores, Inc. has a 52 week low of $303.95 and a 52 week high of $445.17. The company has a market capitalization of $14.69 billion, a P/E ratio of 27.57, a PEG ratio of 2.40 and a beta of 0.87. The stock’s fifty day moving average is $409.52 and its two-hundred day moving average is $399.85. The company has a quick ratio of 0.49, a current ratio of 0.88 and a debt-to-equity ratio of 0.74.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings data on Tuesday, March 11th. The company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.57. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. The firm had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $3.74 billion. During the same period in the previous year, the company posted $2.33 earnings per share. The firm’s quarterly revenue was up 17.2% on a year-over-year basis. Analysts forecast that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey’s General Stores Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.51%. Casey’s General Stores’s dividend payout ratio is presently 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.