Comerica Bank Sells 1,442 Shares of Casey's General Stores, Inc. (NASDAQ:CASY)

Comerica Bank lessened its position in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 8.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,616 shares of the company's stock after selling 1,442 shares during the period. Comerica Bank's holdings in Casey's General Stores were worth $6,584,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Schonfeld Strategic Advisors LLC increased its position in Casey's General Stores by 241.1% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 11,940 shares of the company's stock valued at $4,731,000 after purchasing an additional 8,440 shares during the period. AdvisorShares Investments LLC increased its position in shares of Casey's General Stores by 43.6% during the fourth quarter. AdvisorShares Investments LLC now owns 382 shares of the company's stock worth $151,000 after buying an additional 116 shares during the period. Northern Trust Corp raised its stake in Casey's General Stores by 21.5% during the fourth quarter. Northern Trust Corp now owns 332,504 shares of the company's stock worth $131,748,000 after buying an additional 58,844 shares during the last quarter. Quarry LP lifted its holdings in Casey's General Stores by 51.0% in the fourth quarter. Quarry LP now owns 311 shares of the company's stock valued at $123,000 after buying an additional 105 shares during the period. Finally, Berger Financial Group Inc boosted its position in Casey's General Stores by 61.9% during the fourth quarter. Berger Financial Group Inc now owns 1,083 shares of the company's stock valued at $429,000 after acquiring an additional 414 shares during the last quarter. 85.63% of the stock is currently owned by institutional investors.

Casey's General Stores Stock Down 1.3 %

CASY traded down $5.82 during midday trading on Friday, reaching $446.68. 811,250 shares of the company were exchanged, compared to its average volume of 288,269. The company has a market cap of $16.58 billion, a price-to-earnings ratio of 31.13, a price-to-earnings-growth ratio of 2.40 and a beta of 0.70. Casey's General Stores, Inc. has a one year low of $313.89 and a one year high of $474.97. The company's fifty day moving average price is $432.29 and its 200 day moving average price is $418.10. 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 - Get Free Report) last announced its quarterly 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 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 company posted $2.33 earnings per share. Casey's General Stores's revenue was up 17.2% compared to the same quarter last year. As a group, analysts expect that Casey's General Stores, Inc. will post 13.94 EPS for the current year.

Casey's General Stores Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be issued a $0.50 dividend. The ex-dividend date is Thursday, May 1st. This represents a $2.00 annualized dividend and a dividend yield of 0.45%. Casey's General Stores's dividend payout ratio is currently 13.94%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CASY. 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 report on Wednesday, March 12th. StockNews.com lowered Casey's General Stores from a "buy" rating to a "hold" rating in a research note on Saturday, March 8th. Stephens upgraded shares of Casey's General Stores to a "strong-buy" rating in a research note on Monday, April 7th. Evercore ISI increased their target price on shares of 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. Finally, Gordon Haskett raised shares of Casey's General Stores from a "hold" rating to a "buy" rating in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $430.33.

Insider Activity at Casey's General Stores

In other Casey's General Stores news, insider Katrina S. Lindsey sold 250 shares of the stock in a transaction dated Friday, April 4th. The shares were 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. This trade represents a 9.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mike Spanos bought 256 shares of Casey's General Stores stock in a transaction dated Thursday, March 13th. The stock was acquired at an average cost of $390.54 per share, with a total value of $99,978.24. Following the completion of the acquisition, the director now owns 3,356 shares of the company's stock, valued at $1,310,652.24. This represents a 8.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.56% of the stock is owned by insiders.

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.