Primecap Management Co. CA Increases Stock Holdings in Casey's General Stores, Inc. (NASDAQ:CASY)

Primecap Management Co. CA increased its holdings in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 13.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,300 shares of the company's stock after acquiring an additional 10,000 shares during the period. Primecap Management Co. CA owned approximately 0.23% of Casey's General Stores worth $33,402,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. YANKCOM Partnership purchased a new position in Casey's General Stores in the fourth quarter worth about $34,000. Endeavor Private Wealth Inc. purchased a new position in Casey's General Stores in the fourth quarter worth about $36,000. MassMutual Private Wealth & Trust FSB raised its holdings in 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 worth $59,000 after buying an additional 29 shares during the last quarter. Heck Capital Advisors LLC purchased a new position in Casey's General Stores in the fourth quarter worth about $79,000. Finally, V Square Quantitative Management LLC raised its holdings in Casey's General Stores by 32.9% in the fourth quarter. V Square Quantitative Management LLC now owns 210 shares of the company's stock worth $83,000 after buying an additional 52 shares during the last quarter. Institutional investors own 85.63% of the company's stock.

Wall Street Analysts Forecast Growth

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

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Casey's General Stores Price Performance

Shares of NASDAQ:CASY traded up $9.16 during trading on Friday, hitting $404.00. 493,273 shares of the company's stock were exchanged, compared to its average volume of 268,418. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.88 and a quick ratio of 0.49. Casey's General Stores, Inc. has a 52-week low of $306.45 and a 52-week high of $445.17. The business's 50-day simple moving average is $410.20 and its 200 day simple moving average is $400.80. The company has a market cap of $15.00 billion, a price-to-earnings ratio of 28.15, a PEG ratio of 2.40 and a beta of 0.87.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its earnings results on Tuesday, March 11th. The company reported $2.33 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $3.74 billion. During the same quarter last year, the business posted $2.33 earnings per share. The firm's revenue was up 17.2% on a year-over-year basis. As a group, equities analysts predict that Casey's General Stores, Inc. will post 13.94 EPS for the current year.

Casey's General Stores Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.50%. The ex-dividend date is Thursday, May 1st. Casey's General Stores's dividend payout ratio is presently 13.94%.

Insider Buying and Selling at Casey's General Stores

In other news, Director Mike Spanos purchased 256 shares of the business's stock in a transaction on Thursday, March 13th. The stock was acquired at an average price of $390.54 per share, for a total transaction of $99,978.24. Following the acquisition, the director now directly owns 3,356 shares of the company's stock, valued at $1,310,652.24. This represents a 8.26 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.56% of the stock is currently owned by company insiders.

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.