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

Norges Bank bought a new position in Casey’s General Stores, Inc. (NASDAQ:CASY) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 443,195 shares of the company’s stock, valued at approximately $175,607,000. Norges Bank owned 1.19% of Casey’s General Stores at the end of the most recent reporting period.

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

Insider Activity

In other Casey’s General Stores news, Director Mike Spanos purchased 256 shares of Casey’s General Stores stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average price of $390.54 per share, for a total transaction of $99,978.24. Following the completion of the transaction, 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

CASY has been the subject of several analyst reports. 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. StockNews.com downgraded Casey’s General Stores from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Evercore ISI cut their price objective on Casey’s General Stores from $460.00 to $450.00 and set an “outperform” rating for the company in a research note on Tuesday, March 11th. BMO Capital Markets restated a “market perform” rating and set a $450.00 target price (up previously from $400.00) on shares of Casey’s General Stores in a research note on Wednesday, December 18th. Finally, Gordon Haskett raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Casey’s General Stores presently has an average rating of “Moderate Buy” and a consensus price target of $423.09.

Casey’s General Stores Price Performance

Shares of NASDAQ:CASY opened at $432.00 on Monday. The firm has a market cap of $16.04 billion, a price-to-earnings ratio of 30.10, a P/E/G ratio of 2.40 and a beta of 0.87. The firm has a fifty day moving average price of $413.35 and a 200 day moving average price of $403.20. 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 debt-to-equity ratio of 0.74, a quick ratio of 0.49 and a current ratio of 0.88.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings data 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 net margin of 3.57% and a return on equity of 17.17%. The business had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $3.74 billion. During the same quarter in the prior year, the firm earned $2.33 EPS. The business’s revenue was up 17.2% on a year-over-year basis. As a group, sell-side analysts expect 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 paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Thursday, May 1st. Casey’s General Stores’s payout ratio is 13.94%.

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.