Bank of New York Mellon Corp Grows Position in Casey's General Stores, Inc. (NASDAQ:CASY)

Bank of New York Mellon Corp grew its holdings in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 51.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 515,603 shares of the company's stock after acquiring an additional 175,372 shares during the quarter. Bank of New York Mellon Corp owned about 1.39% of Casey's General Stores worth $223,792,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CASY. Wayfinding Financial LLC purchased a new position in shares of Casey's General Stores during the 1st quarter valued at about $59,000. Impax Asset Management Group plc raised its holdings in shares of Casey's General Stores by 13.3% during the 1st quarter. Impax Asset Management Group plc now owns 7,401 shares of the company's stock valued at $3,212,000 after buying an additional 867 shares in the last quarter. Strategic Blueprint LLC raised its holdings in shares of Casey's General Stores by 10.2% during the 1st quarter. Strategic Blueprint LLC now owns 575 shares of the company's stock valued at $250,000 after buying an additional 53 shares in the last quarter. OneDigital Investment Advisors LLC raised its holdings in shares of Casey's General Stores by 24.4% during the 1st quarter. OneDigital Investment Advisors LLC now owns 4,391 shares of the company's stock valued at $1,906,000 after buying an additional 860 shares in the last quarter. Finally, Avantax Planning Partners Inc. raised its holdings in shares of Casey's General Stores by 6.3% during the 1st quarter. Avantax Planning Partners Inc. now owns 4,091 shares of the company's stock valued at $1,776,000 after buying an additional 244 shares in the last quarter. Institutional investors own 85.63% of the company's stock.

Casey's General Stores Trading Down 1.3%

Casey's General Stores stock traded down $7.01 during trading hours on Friday, reaching $516.59. The company had a trading volume of 274,749 shares, compared to its average volume of 305,367. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.92 and a quick ratio of 0.48. The company has a 50-day moving average price of $477.29 and a 200 day moving average price of $439.38. The firm has a market cap of $19.21 billion, a price-to-earnings ratio of 35.29 and a beta of 0.69. Casey's General Stores, Inc. has a 12-month low of $350.52 and a 12-month high of $548.59.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its earnings results on Monday, June 9th. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.69. Casey's General Stores had a return on equity of 16.28% and a net margin of 3.43%. The firm had revenue of $3.99 billion for the quarter, compared to analysts' expectations of $3.95 billion. During the same period in the previous year, the firm earned $2.34 earnings per share. The business's revenue was up 10.9% compared to the same quarter last year. Equities analysts forecast that Casey's General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey's General Stores Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be given a dividend of $0.57 per share. The ex-dividend date is Friday, August 1st. This is a positive change from Casey's General Stores's previous quarterly dividend of $0.50. This represents a $2.28 annualized dividend and a dividend yield of 0.44%. Casey's General Stores's payout ratio is currently 13.66%.

Insiders Place Their Bets

In other news, insider Chad Michael Frazell sold 4,808 shares of the stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $503.97, for a total value of $2,423,087.76. Following the sale, the insider directly owned 11,480 shares of the company's stock, valued at approximately $5,785,575.60. This represents a 29.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Katrina S. Lindsey sold 2,000 shares of the stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $506.07, for a total value of $1,012,140.00. Following the sale, the insider directly owned 4,636 shares in the company, valued at $2,346,140.52. This trade represents a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,646 shares of company stock valued at $22,136,614 in the last 90 days. Corporate insiders own 0.56% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Royal Bank Of Canada raised their price objective on Casey's General Stores from $468.00 to $542.00 and gave the company a "sector perform" rating in a report on Wednesday. Stephens reissued an "overweight" rating and set a $490.00 price objective on shares of Casey's General Stores in a report on Tuesday, June 10th. The Goldman Sachs Group raised their price objective on Casey's General Stores from $385.00 to $450.00 and gave the company a "neutral" rating in a report on Wednesday, June 11th. Evercore ISI raised their price objective on Casey's General Stores from $450.00 to $460.00 and gave the company an "outperform" rating in a report on Tuesday, April 1st. Finally, BMO Capital Markets raised their price objective on Casey's General Stores from $450.00 to $515.00 and gave the company a "market perform" rating in a report on Wednesday, June 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $461.00.

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.