4,530 Casey's General Stores, Inc. $CASY Shares Acquired by Penobscot Investment Management Company Inc.

Key Points

• Penobscot Investment Management increased its Casey’s General Stores stake by 55.6% in the third quarter, acquiring 4,530 additional shares and bringing its holdings to 12,684 shares valued at approximately $7.7 million.
• Analyst sentiment remains favorable, with 16 Buy ratings and five Hold ratings, resulting in a consensus “Moderate Buy” rating and an average price target of $835.38.
• Casey’s reported quarterly EPS of $7.37, exceeding estimates by $0.59, while revenue rose 24.3% year over year to $5.68 billion. The company also declared a quarterly dividend of $0.65 per share.

Penobscot Investment Management Company Inc. increased its holdings in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 55.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,684 shares of the company's stock after acquiring an additional 4,530 shares during the quarter. Penobscot Investment Management Company Inc.'s holdings in Casey's General Stores were worth $7,718,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Kathmere Capital Management LLC boosted its holdings in shares of Casey's General Stores by 3.5% during the first quarter. Kathmere Capital Management LLC now owns 387 shares of the company's stock valued at $282,000 after acquiring an additional 13 shares during the period. Lincoln Capital LLC boosted its holdings in shares of Casey's General Stores by 4.0% in the second quarter. Lincoln Capital LLC now owns 366 shares of the company's stock valued at $291,000 after acquiring an additional 14 shares in the last quarter. Jag Capital Management LLC increased its position in shares of Casey's General Stores by 1.0% during the 1st quarter. Jag Capital Management LLC now owns 1,753 shares of the company's stock valued at $1,276,000 after purchasing an additional 18 shares during the period. Anchor Investment Management LLC grew its holdings in Casey's General Stores by 72.0% during the second quarter. Anchor Investment Management LLC now owns 43 shares of the company's stock worth $34,000 after acquiring an additional 18 shares during the period. Finally, Renasant Bank raised its holdings in shares of Casey's General Stores by 5.7% in the 2nd quarter. Renasant Bank now owns 369 shares of the company's stock worth $293,000 after purchasing an additional 20 shares in the last quarter. Institutional investors and hedge funds own 85.63% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on CASY. BMO Capital Markets set a $810.00 target price on Casey's General Stores in a report on Thursday, September 10th. UBS Group dropped their price target on Casey's General Stores from $925.00 to $720.00 and set a "neutral" rating on the stock in a research note on Thursday, September 10th. Royal Bank Of Canada upgraded Casey's General Stores from a "sector perform" rating to an "outperform" rating and cut their price objective for the stock from $910.00 to $825.00 in a report on Thursday, October 15th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Casey's General Stores in a research note on Monday, October 19th. Finally, Wall Street Zen lowered shares of Casey's General Stores from a "buy" rating to a "hold" rating in a research note on Saturday, September 12th. Sixteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $835.38.

Casey's General Stores Stock Performance

NASDAQ CASY opened at $697.54 on Wednesday. Casey's General Stores, Inc. has a twelve month low of $497.38 and a twelve month high of $927.85. The stock has a market cap of $25.78 billion, a price-to-earnings ratio of 33.60 and a beta of 0.59. The firm's 50 day moving average price is $682.48 and its two-hundred day moving average price is $738.51.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its earnings results on Tuesday, September 8th. The company reported $7.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.78 by $0.59. The firm had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.56 billion. Casey's General Stores's revenue for the quarter was up 24.3% compared to the same quarter last year. During the same period last year, the firm earned $5.77 earnings per share. On average, research analysts forecast that Casey's General Stores, Inc. will post 21.61 EPS for the current fiscal year.

Casey's General Stores Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Sunday, November 1st will be issued a dividend of $0.65 per share. The ex-dividend date is Friday, October 30th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.4%. Casey's General Stores's payout ratio is currently 12.52%.

About Casey's General Stores

Casey’s General Stores, Inc NASDAQ: CASY is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.

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