Norges Bank Buys Shares of 443,195 Casey's General Stores, Inc. (NASDAQ:CASY)

Norges Bank acquired a new position in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 443,195 shares of the company's stock, valued at approximately $175,607,000. Norges Bank owned approximately 1.19% of Casey's General Stores as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Citigroup Inc. raised its position in shares of Casey's General Stores by 1.9% in the third quarter. Citigroup Inc. now owns 17,852 shares of the company's stock valued at $6,707,000 after buying an additional 332 shares in the last quarter. Bank of Montreal Can increased its stake in Casey's General Stores by 66.3% during the 3rd quarter. Bank of Montreal Can now owns 39,381 shares of the company's stock worth $14,701,000 after acquiring an additional 15,696 shares during the period. FMR LLC raised its holdings in Casey's General Stores by 3.8% in the 3rd quarter. FMR LLC now owns 1,046,830 shares of the company's stock valued at $393,305,000 after acquiring an additional 38,226 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Casey's General Stores by 40.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 17,346 shares of the company's stock valued at $6,517,000 after acquiring an additional 5,021 shares during the period. Finally, CreativeOne Wealth LLC grew its holdings in shares of Casey's General Stores by 76.7% during the 3rd quarter. CreativeOne Wealth LLC now owns 1,002 shares of the company's stock worth $376,000 after purchasing an additional 435 shares in the last quarter. Institutional investors own 85.63% of the company's stock.

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Insider Activity

In related news, Director Mike Spanos acquired 256 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average cost of $390.54 per share, for a total transaction of $99,978.24. Following the completion of the acquisition, the director now directly owns 3,356 shares of the company's stock, valued at approximately $1,310,652.24. This trade represents a 8.26 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.56% of the company's stock.

Analyst Upgrades and Downgrades

CASY has been the subject of several recent analyst reports. StockNews.com cut shares of Casey's General Stores from a "buy" rating to a "hold" rating in a research report on Saturday, March 8th. Evercore ISI upped their price target on shares of Casey's General Stores from $450.00 to $460.00 and gave the stock an "outperform" rating in a report on Tuesday. BMO Capital Markets reissued a "market perform" rating and issued a $450.00 price objective (up from $400.00) on shares of Casey's General Stores in a research note on Wednesday, December 18th. Gordon Haskett upgraded Casey's General Stores from a "hold" rating to a "buy" rating in a research note on Thursday, February 13th. Finally, Royal Bank of Canada set a $438.00 target price on Casey's General Stores and gave the company a "sector perform" rating in a report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $424.00.

Casey's General Stores Price Performance

Shares of CASY traded down $33.35 during trading hours on Friday, reaching $415.82. The stock had a trading volume of 729,654 shares, compared to its average volume of 279,355. Casey's General Stores, Inc. has a 12 month low of $306.45 and a 12 month high of $458.92. The company's 50-day moving average is $416.73 and its two-hundred day moving average is $404.81. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.49 and a current ratio of 0.88. The stock has a market capitalization of $15.43 billion, a PE ratio of 28.98, a PEG ratio of 2.40 and a beta of 0.87.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its earnings results on Tuesday, March 11th. The company reported $2.33 EPS 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 last year, the company earned $2.33 earnings per share. The business's quarterly revenue was up 17.2% on a year-over-year basis. Research analysts expect that Casey's General Stores, Inc. will post 13.94 EPS for the current year.

Casey's General Stores Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.48%. The ex-dividend date is Thursday, May 1st. Casey's General Stores's dividend payout ratio (DPR) is currently 13.94%.

Casey's General Stores Company 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.