Bank of Montreal Can Sells 437 Shares of Casey’s General Stores, Inc. $CASY

Bank of Montreal Can reduced its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 2.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,736 shares of the company’s stock after selling 437 shares during the quarter. Bank of Montreal Can’s holdings in Casey’s General Stores were worth $7,519,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Crossmark Global Holdings Inc. raised its position in shares of Casey’s General Stores by 15.5% during the first quarter. Crossmark Global Holdings Inc. now owns 745 shares of the company’s stock valued at $323,000 after buying an additional 100 shares during the last quarter. M&T Bank Corp increased its stake in Casey’s General Stores by 39.6% during the first quarter. M&T Bank Corp now owns 2,515 shares of the company’s stock valued at $1,092,000 after acquiring an additional 713 shares during the period. Allworth Financial LP raised its holdings in Casey’s General Stores by 10.8% in the 1st quarter. Allworth Financial LP now owns 654 shares of the company’s stock valued at $293,000 after acquiring an additional 64 shares in the last quarter. State of Michigan Retirement System raised its holdings in Casey’s General Stores by 1.1% in the 1st quarter. State of Michigan Retirement System now owns 8,921 shares of the company’s stock valued at $3,872,000 after acquiring an additional 100 shares in the last quarter. Finally, Xponance Inc. lifted its position in shares of Casey’s General Stores by 1.7% in the 1st quarter. Xponance Inc. now owns 4,927 shares of the company’s stock worth $2,139,000 after acquiring an additional 81 shares during the period. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Jefferies Financial Group boosted their price objective on Casey’s General Stores from $575.00 to $600.00 and gave the company a “buy” rating in a research report on Tuesday, September 9th. BMO Capital Markets lifted their price target on shares of Casey’s General Stores from $515.00 to $540.00 and gave the stock a “market perform” rating in a research note on Wednesday, September 10th. Stephens restated an “overweight” rating and issued a $570.00 price objective on shares of Casey’s General Stores in a research note on Wednesday, October 8th. KeyCorp lifted their target price on shares of Casey’s General Stores from $550.00 to $575.00 and gave the company an “overweight” rating in a research report on Friday, July 25th. Finally, The Goldman Sachs Group upped their target price on shares of Casey’s General Stores from $450.00 to $490.00 and gave the company a “neutral” rating in a research note on Wednesday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Casey’s General Stores has an average rating of “Moderate Buy” and an average price target of $564.00.

Casey’s General Stores Stock Up 2.0%

CASY opened at $533.57 on Monday. The firm has a market cap of $19.84 billion, a price-to-earnings ratio of 34.25 and a beta of 0.66. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.61 and a current ratio of 1.03. The firm’s 50-day simple moving average is $541.66 and its 200-day simple moving average is $508.05. Casey’s General Stores, Inc. has a twelve month low of $372.08 and a twelve month high of $572.18.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Monday, September 8th. The company reported $5.77 EPS for the quarter, beating analysts’ consensus estimates of $5.02 by $0.75. The firm had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.47 billion. Casey’s General Stores had a net margin of 3.54% and a return on equity of 16.73%. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the previous year, the business earned $4.83 earnings per share. Equities research analysts anticipate that Casey’s General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey’s General Stores Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Saturday, November 1st will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a $2.28 annualized dividend and a yield of 0.4%. Casey’s General Stores’s dividend payout ratio is currently 14.63%.

Insider Buying and Selling

In other Casey’s General Stores news, insider Chad Michael Frazell sold 3,487 shares of the business’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $555.40, for a total transaction of $1,936,679.80. Following the completion of the sale, the insider directly owned 7,993 shares of the company’s stock, valued at approximately $4,439,312.20. The trade was a 30.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.54% of the company’s stock.

About Casey’s General Stores

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.