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

Key Points

• Penobscot Investment Management raised its stake in Casey's General Stores by 29.5% in Q4 to 7,073 shares worth $3.909 million, and institutional investors now own roughly 85.6% of the stock.
• Insider activity was mixed: director Mike Spanos bought 300 shares at $665.43 (a 7.14% increase in his position) while insider Katrina S. Lindsey sold 200 shares at $683.04 (a 4.72% decrease).
• Casey's beat EPS estimates with $3.49 vs. $2.94 but missed revenue ($3.92B vs. $4.08B) and announced a quarterly dividend of $0.57 ($2.28 annualized, ~0.3% yield; ex-dividend May 1).

Penobscot Investment Management Company Inc. raised its holdings in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 29.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,073 shares of the company's stock after acquiring an additional 1,610 shares during the period. Penobscot Investment Management Company Inc.'s holdings in Casey's General Stores were worth $3,909,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CASY. Foster Dykema Cabot & Partners LLC purchased a new position in shares of Casey's General Stores during the 3rd quarter valued at approximately $25,000. Westside Investment Management Inc. increased its holdings in shares of Casey's General Stores by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 46 shares of the company's stock valued at $26,000 after purchasing an additional 23 shares in the last quarter. Central Pacific Bank Trust Division increased its holdings in shares of Casey's General Stores by 52.8% during the 4th quarter. Central Pacific Bank Trust Division now owns 55 shares of the company's stock valued at $30,000 after purchasing an additional 19 shares in the last quarter. True Wealth Design LLC increased its holdings in shares of Casey's General Stores by 350.0% during the 4th quarter. True Wealth Design LLC now owns 54 shares of the company's stock valued at $30,000 after purchasing an additional 42 shares in the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new position in shares of Casey's General Stores during the 3rd quarter valued at approximately $33,000. 85.63% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Casey's General Stores

In related news, insider Katrina S. Lindsey sold 200 shares of the business's stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $683.04, for a total value of $136,608.00. Following the completion of the sale, the insider owned 4,039 shares of the company's stock, valued at approximately $2,758,798.56. The trade was a 4.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mike Spanos purchased 300 shares of the business's stock in a transaction that occurred on Friday, March 13th. The stock was bought at an average cost of $665.43 per share, with a total value of $199,629.00. Following the acquisition, the director owned 4,499 shares in the company, valued at $2,993,769.57. This represents a 7.14% increase in their position. The SEC filing for this purchase provides additional information. 0.54% of the stock is currently owned by insiders.

Casey's General Stores Price Performance

Shares of NASDAQ CASY opened at $781.82 on Wednesday. The firm has a market cap of $28.90 billion, a PE ratio of 44.88, a PEG ratio of 2.50 and a beta of 0.61. The firm has a fifty day moving average of $699.46 and a 200 day moving average of $616.16. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.64 and a current ratio of 1.04. Casey's General Stores, Inc. has a one year low of $430.00 and a one year high of $784.20.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its quarterly earnings results on Monday, March 9th. The company reported $3.49 EPS for the quarter, topping the consensus estimate of $2.94 by $0.55. The company had revenue of $3.92 billion during the quarter, compared to analyst estimates of $4.08 billion. Casey's General Stores had a net margin of 3.83% and a return on equity of 17.56%. The firm's revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.33 EPS. As a group, research analysts predict that Casey's General Stores, Inc. will post 18.1 EPS for the current fiscal year.

Casey's General Stores Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 1st will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Friday, May 1st. Casey's General Stores's payout ratio is presently 13.09%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CASY shares. KeyCorp lifted their target price on shares of Casey's General Stores from $730.00 to $830.00 and gave the company an "overweight" rating in a report on Monday. BMO Capital Markets reaffirmed a "market perform" rating and set a $700.00 target price on shares of Casey's General Stores in a report on Wednesday, March 4th. Royal Bank Of Canada lifted their target price on shares of Casey's General Stores from $662.00 to $713.00 and gave the company a "sector perform" rating in a report on Tuesday, March 10th. UBS Group lifted their target price on shares of Casey's General Stores from $600.00 to $706.00 and gave the company a "neutral" rating in a report on Wednesday, March 11th. Finally, Northcoast Research lowered shares of Casey's General Stores from a "buy" rating to a "neutral" rating in a report on Wednesday, January 21st. Eight investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $722.36.

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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