Fulton Bank N.A. Buys New Holdings in Casey's General Stores, Inc. (NASDAQ:CASY)

Fulton Bank N.A. purchased a new stake in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 563 shares of the company's stock, valued at approximately $244,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CASY. Vanguard Group Inc. raised its holdings in shares of Casey's General Stores by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 3,799,104 shares of the company's stock worth $1,505,319,000 after buying an additional 44,295 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in shares of Casey's General Stores by 1.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,776,323 shares of the company's stock worth $703,833,000 after buying an additional 31,131 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Casey's General Stores by 18.7% in the third quarter. JPMorgan Chase & Co. now owns 758,804 shares of the company's stock worth $285,090,000 after buying an additional 119,350 shares during the period. Franklin Resources Inc. raised its holdings in shares of Casey's General Stores by 29.5% in the fourth quarter. Franklin Resources Inc. now owns 678,778 shares of the company's stock worth $268,952,000 after buying an additional 154,541 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Casey's General Stores in the fourth quarter worth approximately $236,500,000. 85.63% of the stock is owned by institutional investors.

Casey's General Stores Stock Down 1.1%

NASDAQ:CASY traded down $4.75 during midday trading on Monday, reaching $439.29. The company had a trading volume of 667,600 shares, compared to its average volume of 301,542. The firm has a market capitalization of $16.31 billion, a price-to-earnings ratio of 30.61, a PEG ratio of 2.40 and a beta of 0.65. The stock's fifty day simple moving average is $447.69 and its 200-day simple moving average is $424.20. Casey's General Stores, Inc. has a 12-month low of $322.78 and a 12-month high of $485.50. The company has a current ratio of 0.88, a quick ratio of 0.49 and a debt-to-equity ratio of 0.74.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its quarterly earnings results on Monday, June 9th. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.93 by $0.70. Casey's General Stores had a return on equity of 17.17% and a net margin of 3.57%. Casey's General Stores's revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.34 earnings per share. On average, sell-side analysts anticipate that Casey's General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey's General Stores Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be issued a $0.57 dividend. This is an increase from Casey's General Stores's previous quarterly dividend of $0.50. This represents a $2.28 annualized dividend and a dividend yield of 0.52%. Casey's General Stores's payout ratio is presently 13.94%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wall Street Zen downgraded shares of Casey's General Stores from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. KeyCorp assumed coverage on shares of Casey's General Stores in a research note on Friday, April 11th. They issued an "overweight" rating and a $500.00 price target on the stock. Evercore ISI raised their price target 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. 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. Finally, Stephens upgraded Casey's General Stores to a "strong-buy" rating in a report on Monday, April 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Casey's General Stores currently has an average rating of "Moderate Buy" and an average price target of $430.33.

Insider Activity

In other news, Director Mike Spanos purchased 256 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average price of $390.54 per share, for a total transaction of $99,978.24. Following the acquisition, the director now directly owns 3,356 shares in the company, valued at approximately $1,310,652.24. The trade was a 8.26% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Katrina S. Lindsey sold 250 shares of the firm's stock in a transaction on 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 transaction, the insider now owns 2,443 shares of the company's stock, valued at approximately $1,067,615.43. This represents a 9.28% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.56% of the company's stock.

Casey's General Stores Company 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.