Canandaigua National Bank & Trust Co. Decreases Stock Position in Casey’s General Stores, Inc. (NASDAQ:CASY)

Canandaigua National Bank & Trust Co. lessened its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 11.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 677 shares of the company’s stock after selling 91 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Casey’s General Stores were worth $268,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Soros Capital Management LLC increased its stake in shares of Casey’s General Stores by 1,825.6% in the third quarter. Soros Capital Management LLC now owns 27,632 shares of the company’s stock worth $10,382,000 after purchasing an additional 26,197 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Casey’s General Stores by 9.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 14,725 shares of the company’s stock valued at $5,532,000 after acquiring an additional 1,332 shares during the period. Lord Abbett & CO. LLC purchased a new stake in shares of Casey’s General Stores during the third quarter worth $23,294,000. JPMorgan Chase & Co. grew its position in shares of Casey’s General Stores by 18.7% in the third quarter. JPMorgan Chase & Co. now owns 758,804 shares of the company’s stock valued at $285,090,000 after purchasing an additional 119,350 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Casey’s General Stores by 3.8% during the 3rd quarter. FMR LLC now owns 1,046,830 shares of the company’s stock valued at $393,305,000 after purchasing an additional 38,226 shares during the period. Institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Stock Performance

Shares of NASDAQ CASY opened at $396.76 on Tuesday. The stock has a market cap of $14.73 billion, a price-to-earnings ratio of 27.65 and a beta of 0.82. The stock’s 50-day moving average is $410.07 and its 200 day moving average is $388.32. The company has a current ratio of 0.88, a quick ratio of 0.44 and a debt-to-equity ratio of 0.74. Casey’s General Stores, Inc. has a 1-year low of $268.07 and a 1-year high of $439.68.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results on Monday, December 9th. The company reported $4.85 EPS for the quarter, topping the consensus estimate of $4.29 by $0.56. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. The firm had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $4.03 billion. During the same period last year, the firm posted $4.24 earnings per share. The business’s revenue was down 2.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Casey’s General Stores, Inc. will post 14.28 EPS for the current fiscal year.

Casey’s General Stores Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 17th. Shareholders of record on Monday, February 3rd will be given a dividend of $0.50 per share. The ex-dividend date is Monday, February 3rd. This represents a $2.00 annualized dividend and a yield of 0.50%. Casey’s General Stores’s payout ratio is 13.94%.

Insider Activity

In other news, Director Mike Spanos bought 500 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were purchased at an average price of $396.76 per share, for a total transaction of $198,380.00. Following the completion of the acquisition, the director now owns 3,097 shares of the company’s stock, valued at approximately $1,228,765.72. This trade represents a 19.25 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Katrina S. Lindsey sold 450 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $427.13, for a total transaction of $192,208.50. Following the sale, the insider now owns 2,247 shares of the company’s stock, valued at $959,761.11. This represents a 16.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Evercore ISI raised their target price on Casey’s General Stores from $460.00 to $470.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Royal Bank of Canada increased their target price on shares of Casey’s General Stores from $403.00 to $428.00 and gave the stock a “sector perform” rating in a research note on Tuesday, December 10th. Melius Research assumed coverage on shares of Casey’s General Stores in a research report on Monday, September 23rd. They set a “buy” rating and a $435.00 price target for the company. StockNews.com downgraded Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 13th. Finally, Benchmark restated a “buy” rating and issued a $410.00 target price on shares of Casey’s General Stores in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Casey’s General Stores currently has an average rating of “Moderate Buy” and an average price target of $424.00.

Casey’s General Stores Profile

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.