Casey's General Stores, Inc. $CASY Shares Bought by M&T Bank Corp

Key Points

• M&T Bank Corp massively increased its stake — boosted holdings by 15,024.5% in Q4 to 193,140 shares (~0.52% of Casey's) worth about $106.75 million.
• Quarterly results and valuation — Casey's reported $3.49 EPS vs $2.94 expected while revenue slightly missed at $3.92B vs $4.08B; the stock trades near its 12‑month high with a $28.9B market cap and a P/E of 44.9, and analysts have a consensus "Moderate Buy" with an average target of $722.36.
• Dividend announced — quarterly dividend of $0.57 ($2.28 annualized) with an ex‑dividend date of May 1, implying a yield around 0.3% and a payout ratio of ~13%.

M&T Bank Corp boosted its position in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 15,024.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 193,140 shares of the company's stock after acquiring an additional 191,863 shares during the quarter. M&T Bank Corp owned about 0.52% of Casey's General Stores worth $106,750,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Foster Dykema Cabot & Partners LLC acquired a new stake in Casey's General Stores during the 3rd quarter worth about $25,000. Westside Investment Management Inc. lifted its position in Casey's General Stores by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 46 shares of the company's stock worth $26,000 after acquiring an additional 23 shares during the period. Central Pacific Bank Trust Division lifted its position in 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 worth $30,000 after acquiring an additional 19 shares during the period. True Wealth Design LLC lifted its position in Casey's General Stores by 350.0% during the 4th quarter. True Wealth Design LLC now owns 54 shares of the company's stock worth $30,000 after acquiring an additional 42 shares during the period. Finally, Atlantic Union Bankshares Corp acquired a new stake in Casey's General Stores during the 3rd quarter worth about $33,000. Institutional investors and hedge funds own 85.63% of the company's stock.

Casey's General Stores Price Performance

NASDAQ:CASY opened at $781.82 on Wednesday. Casey's General Stores, Inc. has a 12 month low of $430.00 and a 12 month high of $784.20. The stock has a 50 day moving average of $699.46 and a two-hundred day moving average of $616.16. The company has a current ratio of 1.04, a quick ratio of 0.64 and a debt-to-equity ratio of 0.61. The firm has a market cap of $28.90 billion, a P/E ratio of 44.88, a price-to-earnings-growth ratio of 2.50 and a beta of 0.61.

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

Casey's General Stores Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 1st will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, May 1st. Casey's General Stores's payout ratio is 13.09%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CASY shares. Deutsche Bank Aktiengesellschaft set a $688.00 price objective on Casey's General Stores in a report on Thursday, January 8th. JPMorgan Chase & Co. started coverage on Casey's General Stores in a report on Thursday, March 26th. They issued a "neutral" rating and a $719.00 price objective for the company. Wall Street Zen cut Casey's General Stores from a "buy" rating to a "hold" rating in a report on Saturday, March 21st. Weiss Ratings reissued a "buy (b)" rating on shares of Casey's General Stores in a report on Friday, March 27th. Finally, The Goldman Sachs Group boosted their price objective on Casey's General Stores from $530.00 to $605.00 and gave the company a "neutral" rating in a report on Wednesday, March 11th. Eight research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $722.36.

Insider Activity at Casey's General Stores

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

Casey's General Stores Company Profile

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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