2,400 Shares in Casey's General Stores, Inc. (NASDAQ:CASY) Acquired by Cannon Global Investment Management LLC

Cannon Global Investment Management LLC acquired a new stake in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 2,400 shares of the company's stock, valued at approximately $951,000. Casey's General Stores accounts for about 2.1% of Cannon Global Investment Management LLC's portfolio, making the stock its 10th largest position.

Several other institutional investors also recently modified their holdings of the company. Private Trust Co. NA increased its holdings in shares of Casey's General Stores by 1.3% during the 3rd quarter. Private Trust Co. NA now owns 2,072 shares of the company's stock worth $778,000 after acquiring an additional 27 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Casey's General Stores by 24.2% in 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 last quarter. Harbour Investments Inc. raised its position in shares of Casey's General Stores by 3.1% in the fourth quarter. Harbour Investments Inc. now owns 1,002 shares of the company's stock valued at $397,000 after purchasing an additional 30 shares during the period. Laidlaw Wealth Management LLC lifted its stake in shares of Casey's General Stores by 3.1% during the 4th quarter. Laidlaw Wealth Management LLC now owns 1,063 shares of the company's stock worth $421,000 after buying an additional 32 shares during the last quarter. Finally, M&T Bank Corp lifted its stake in shares of Casey's General Stores by 2.1% during the 4th quarter. M&T Bank Corp now owns 1,802 shares of the company's stock worth $714,000 after buying an additional 37 shares during the last quarter. 85.63% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

CASY has been the topic of several research analyst reports. Gordon Haskett raised shares of Casey's General Stores from a "hold" rating to a "buy" rating in a report on Thursday, February 13th. Royal Bank of Canada set a $438.00 target price on Casey's General Stores and gave the stock a "sector perform" rating in a research note on Wednesday, March 12th. Evercore ISI dropped their price target on Casey's General Stores from $460.00 to $450.00 and set an "outperform" rating for the company in a report on Tuesday, March 11th. StockNews.com lowered Casey's General Stores from a "buy" rating to a "hold" rating in a report on Saturday, March 8th. Finally, BMO Capital Markets reiterated a "market perform" rating and set a $450.00 price objective (up previously from $400.00) on shares of Casey's General Stores in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Casey's General Stores has an average rating of "Moderate Buy" and an average target price of $423.09.

Casey's General Stores Price Performance

Shares of CASY traded up $10.00 during trading hours on Thursday, hitting $436.00. 182,730 shares of the company were exchanged, compared to its average volume of 269,120. 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, Inc. has a fifty-two week low of $306.45 and a fifty-two week high of $445.17. The company has a market cap of $16.18 billion, a price-to-earnings ratio of 30.31, a P/E/G ratio of 2.40 and a beta of 0.87. The firm's fifty day moving average is $411.74 and its 200 day moving average is $402.14.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its quarterly earnings data on Tuesday, March 11th. The company reported $2.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.76 by $0.57. The firm had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.74 billion. Casey's General Stores had a net margin of 3.57% and a return on equity of 17.17%. The business's revenue for the quarter was up 17.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.33 earnings per share. On average, equities analysts anticipate 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 company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, May 1st. This represents a $2.00 annualized dividend and a yield of 0.46%. Casey's General Stores's dividend payout ratio is currently 13.94%.

Insider Buying and Selling at Casey's General Stores

In other Casey's General Stores news, Director Mike Spanos purchased 256 shares of the stock in a transaction dated Thursday, March 13th. The stock was bought at an average price of $390.54 per share, with a total value of $99,978.24. Following the acquisition, the director now owns 3,356 shares of the company's stock, valued at approximately $1,310,652.24. This represents a 8.26 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.56% 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.