Wells Fargo & Company MN Boosts Stock Holdings in Casey's General Stores, Inc. (NASDAQ:CASY)

Wells Fargo & Company MN lifted its position in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 30.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,279 shares of the company's stock after buying an additional 23,541 shares during the quarter. Wells Fargo & Company MN owned approximately 0.27% of Casey's General Stores worth $39,734,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in Casey's General Stores in the fourth quarter valued at approximately $236,500,000. Norges Bank bought a new position in shares of Casey's General Stores in the 4th quarter worth $175,607,000. Wellington Management Group LLP raised its position in shares of Casey's General Stores by 160.1% during the 4th quarter. Wellington Management Group LLP now owns 428,201 shares of the company's stock valued at $169,666,000 after buying an additional 263,545 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Casey's General Stores by 49.9% during the 3rd quarter. Franklin Resources Inc. now owns 524,237 shares of the company's stock worth $204,861,000 after acquiring an additional 174,586 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in Casey's General Stores by 18.7% in the third quarter. JPMorgan Chase & Co. now owns 758,804 shares of the company's stock worth $285,090,000 after acquiring an additional 119,350 shares in the last quarter. 85.63% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CASY has been the subject of several research analyst reports. Gordon Haskett raised Casey's General Stores from a "hold" rating to a "buy" rating in a research note on Thursday, February 13th. Stephens raised Casey's General Stores to a "strong-buy" rating in a research note on Monday, April 7th. Royal Bank of Canada set a $438.00 price target on shares of Casey's General Stores and gave the stock a "sector perform" rating in a research note on Wednesday, March 12th. Evercore ISI increased their target price on shares of Casey's General Stores from $450.00 to $460.00 and gave the company an "outperform" rating in a report on Tuesday, April 1st. Finally, KeyCorp initiated coverage on shares of Casey's General Stores in a research note on Friday, April 11th. They issued an "overweight" rating and a $500.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $430.33.

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Insider Transactions at Casey's General Stores

In other Casey's General Stores news, Director Mike Spanos bought 256 shares of the stock in a transaction dated Thursday, March 13th. The stock was purchased 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Katrina S. Lindsey sold 250 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $437.01, for a total value of $109,252.50. Following the transaction, the insider now directly owns 2,443 shares of the company's stock, valued at approximately $1,067,615.43. This trade represents a 9.28 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.56% of the company's stock.

Casey's General Stores Trading Up 0.0 %

Shares of CASY traded up $0.09 during mid-day trading on Wednesday, hitting $464.50. 60,296 shares of the company's stock traded hands, compared to its average volume of 283,056. The company has a quick ratio of 0.49, a current ratio of 0.88 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $17.24 billion, a P/E ratio of 32.46, a PEG ratio of 2.40 and a beta of 0.74. The business's 50-day moving average price is $419.64 and its 200-day moving average price is $408.98. Casey's General Stores, Inc. has a 1 year low of $306.69 and a 1 year high of $468.00.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its quarterly earnings data on Tuesday, March 11th. The company reported $2.33 EPS for the quarter, topping the consensus estimate of $1.76 by $0.57. The business had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.74 billion. Casey's General Stores had a net margin of 3.57% and a return on equity of 17.17%. The company's revenue for the quarter was up 17.2% on a year-over-year basis. During the same period in the prior year, the business earned $2.33 EPS. As a group, sell-side analysts forecast 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 announced 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. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.43%. Casey's General Stores's dividend payout ratio (DPR) is 13.94%.

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.