M&T Bank Corp Acquires 713 Shares of Casey's General Stores, Inc. (NASDAQ:CASY)

M&T Bank Corp boosted its holdings in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 39.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,515 shares of the company's stock after buying an additional 713 shares during the quarter. M&T Bank Corp's holdings in Casey's General Stores were worth $1,092,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Casey's General Stores by 1.2% during 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 last quarter. T. Rowe Price Investment Management Inc. increased its position in Casey's General Stores by 1.8% during 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 last quarter. Franklin Resources Inc. increased its position in Casey's General Stores by 29.5% during 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 last quarter. GAMMA Investing LLC increased its position in Casey's General Stores by 54,448.8% during the first quarter. GAMMA Investing LLC now owns 543,852 shares of the company's stock worth $236,054,000 after buying an additional 542,855 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Casey's General Stores by 51.5% during the first quarter. Bank of New York Mellon Corp now owns 515,603 shares of the company's stock worth $223,792,000 after buying an additional 175,372 shares during the last quarter. Institutional investors and hedge funds own 85.63% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on CASY shares. Wall Street Zen raised shares of Casey's General Stores from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Evercore ISI raised their target price on shares of Casey's General Stores from $450.00 to $460.00 and gave the stock an "outperform" rating in a report on Tuesday, April 1st. BMO Capital Markets raised their target price on shares of Casey's General Stores from $450.00 to $515.00 and gave the stock a "market perform" rating in a report on Wednesday, June 11th. Wells Fargo & Company raised their target price on shares of Casey's General Stores from $460.00 to $540.00 and gave the stock an "overweight" rating in a report on Wednesday, June 11th. Finally, The Goldman Sachs Group raised their target price on shares of Casey's General Stores from $385.00 to $450.00 and gave the stock a "neutral" rating in a report on Wednesday, June 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $465.25.

Casey's General Stores Price Performance

Shares of CASY stock traded down $2.13 on Thursday, hitting $515.67. 250,330 shares of the company's stock were exchanged, compared to its average volume of 306,010. The company has a 50 day moving average of $481.72 and a 200 day moving average of $442.57. The stock has a market cap of $19.17 billion, a P/E ratio of 35.22 and a beta of 0.69. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.92 and a quick ratio of 0.48. Casey's General Stores, Inc. has a 12 month low of $350.52 and a 12 month high of $546.50.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its earnings results on Monday, June 9th. The company reported $2.63 EPS for the quarter, topping analysts' consensus estimates of $1.94 by $0.69. The firm had revenue of $3.99 billion during the quarter, compared to analysts' expectations of $3.95 billion. Casey's General Stores had a net margin of 3.43% and a return on equity of 16.28%. The business'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 earned $2.34 earnings per share. On average, equities research analysts predict that Casey's General Stores, Inc. will post 13.94 EPS for the current year.

Casey's General Stores Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend is Friday, August 1st. This is a boost from Casey's General Stores's previous quarterly dividend of $0.50. Casey's General Stores's payout ratio is presently 13.66%.

Insider Activity at Casey's General Stores

In other news, insider Chad Michael Frazell sold 4,808 shares of the company's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $503.97, for a total transaction of $2,423,087.76. Following the completion of the transaction, the insider directly owned 11,480 shares in the company, valued at approximately $5,785,575.60. This represents a 29.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Katrina S. Lindsey sold 2,000 shares of the company's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $506.07, for a total transaction of $1,012,140.00. Following the transaction, the insider owned 4,636 shares of the company's stock, 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. In the last ninety days, insiders sold 43,646 shares of company stock valued at $22,136,614. 0.56% of the stock is owned by company insiders.

Casey's General Stores 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.