Primecap Management Co. CA Buys 10,000 Shares of Casey’s General Stores, Inc. (NASDAQ:CASY)

Primecap Management Co. CA lifted its stake in Casey’s General Stores, Inc. (NASDAQ:CASY) by 13.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 84,300 shares of the company’s stock after purchasing an additional 10,000 shares during the period. Primecap Management Co. CA’s holdings in Casey’s General Stores were worth $33,402,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. YANKCOM Partnership bought a new position in shares of Casey’s General Stores in the 4th quarter worth $34,000. Endeavor Private Wealth Inc. bought a new position in shares of Casey’s General Stores in the 4th quarter worth $36,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of Casey’s General Stores by 24.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 149 shares of the company’s stock worth $59,000 after purchasing an additional 29 shares during the last quarter. Heck Capital Advisors LLC bought a new position in shares of Casey’s General Stores in the 4th quarter worth $79,000. Finally, V Square Quantitative Management LLC boosted its position in shares of Casey’s General Stores by 32.9% in the 4th quarter. V Square Quantitative Management LLC now owns 210 shares of the company’s stock worth $83,000 after purchasing an additional 52 shares during the last quarter. 85.63% of the stock is currently owned by institutional investors.

Insider Activity at Casey’s General Stores

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 stock was acquired at an average price 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 position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.56% of the stock is owned by company insiders.

Casey’s General Stores Stock Performance

CASY opened at $386.89 on Wednesday. The business’s 50-day moving average price is $409.53 and its two-hundred day moving average price is $400.54. Casey’s General Stores, Inc. has a 1 year low of $306.42 and a 1 year high of $445.17. The company has a market capitalization of $14.36 billion, a price-to-earnings ratio of 26.96, a P/E/G ratio of 2.40 and a beta of 0.87. 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 (NASDAQ:CASY) last released its quarterly earnings results on Tuesday, March 11th. The company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 17.17% and a net margin of 3.57%. The company’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same quarter last year, the business posted $2.33 EPS. Equities analysts expect that Casey’s General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey’s General Stores Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date is Thursday, May 1st. Casey’s General Stores’s dividend payout ratio is currently 13.94%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CASY shares. BMO Capital Markets restated a “market perform” rating and issued a $450.00 price target (up from $400.00) on shares of Casey’s General Stores in a research report on Wednesday, December 18th. Gordon Haskett upgraded Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Evercore ISI reduced their target price on Casey’s General Stores from $460.00 to $450.00 and set an “outperform” rating on the stock in a report on Tuesday, March 11th. 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 report on Wednesday, March 12th. Finally, StockNews.com lowered Casey’s General Stores from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Casey’s General Stores presently has a consensus rating of “Moderate Buy” and a consensus price target of $423.09.

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.