Bank of America Corp DE Cuts Stake in Casey's General Stores, Inc. (NASDAQ:CASY)

Bank of America Corp DE decreased its holdings in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 11.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 141,948 shares of the company's stock after selling 17,922 shares during the quarter. Bank of America Corp DE owned 0.38% of Casey's General Stores worth $56,244,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of CASY. YANKCOM Partnership purchased a new stake in shares of Casey's General Stores during the 4th quarter valued at about $34,000. Endeavor Private Wealth Inc. purchased a new stake in Casey's General Stores in the 4th quarter worth approximately $36,000. MassMutual Private Wealth & Trust FSB increased its holdings in 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 acquiring an additional 29 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in Casey's General Stores in the 4th quarter worth approximately $79,000. Finally, V Square Quantitative Management LLC increased its holdings in 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 acquiring an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 85.63% of the company's stock.

Casey's General Stores Price Performance

CASY stock traded down $0.06 during midday trading on Monday, hitting $456.09. The company's stock had a trading volume of 230,590 shares, compared to its average volume of 290,866. 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 $16.93 billion, a price-to-earnings ratio of 31.78, a price-to-earnings-growth ratio of 2.40 and a beta of 0.70. Casey's General Stores, Inc. has a 12 month low of $313.89 and a 12 month high of $474.97. The company has a 50 day moving average of $438.17 and a two-hundred day moving average of $420.47.

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 analysts' consensus estimates of $1.76 by $0.57. The firm had revenue of $3.90 billion during 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 quarterly revenue was up 17.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.33 EPS. On average, analysts expect 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 announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were given a dividend of $0.50 per share. The ex-dividend date was Thursday, May 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.44%. Casey's General Stores's dividend payout ratio is currently 13.94%.

Insider Activity

In related news, Director Mike Spanos purchased 256 shares of the firm's 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 acquisition, the director now owns 3,356 shares of the company's stock, valued at approximately $1,310,652.24. This represents a 8.26% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Katrina S. Lindsey sold 250 shares of the stock in a transaction on Friday, April 4th. The stock was sold at an average price of $437.01, for a total value of $109,252.50. Following the completion of the sale, the insider now owns 2,443 shares in the company, valued at approximately $1,067,615.43. The trade was 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.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CASY shares. Stephens raised shares of Casey's General Stores to a "strong-buy" rating in a report on Monday, April 7th. KeyCorp started coverage on shares of Casey's General Stores in a report on Friday, April 11th. They issued an "overweight" rating and a $500.00 target price for the company. StockNews.com lowered shares of Casey's General Stores from a "buy" rating to a "hold" rating in a report on Saturday, March 8th. Royal Bank of Canada set a $438.00 target price on shares of Casey's General Stores and gave the stock a "sector perform" rating in a report on Wednesday, March 12th. Finally, Evercore ISI upped their price target on Casey's General Stores from $450.00 to $460.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $430.33.

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.