M&T Bank Corp Purchases 982 Shares of Casey’s General Stores, Inc. $CASY

M&T Bank Corp grew its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 76.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,259 shares of the company’s stock after buying an additional 982 shares during the quarter. M&T Bank Corp’s holdings in Casey’s General Stores were worth $1,249,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its stake in Casey’s General Stores by 35.4% during the third quarter. Victory Capital Management Inc. now owns 791,415 shares of the company’s stock worth $447,403,000 after buying an additional 206,777 shares during the last quarter. Franklin Resources Inc. grew its stake in Casey’s General Stores by 7.0% during the third quarter. Franklin Resources Inc. now owns 758,212 shares of the company’s stock worth $428,632,000 after buying an additional 49,319 shares during the last quarter. Invesco Ltd. grew its stake in Casey’s General Stores by 5.0% during the third quarter. Invesco Ltd. now owns 507,998 shares of the company’s stock worth $287,182,000 after buying an additional 24,091 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Casey’s General Stores by 2.0% during the third quarter. Dimensional Fund Advisors LP now owns 447,265 shares of the company’s stock worth $252,832,000 after buying an additional 8,781 shares during the last quarter. Finally, Capital World Investors grew its stake in Casey’s General Stores by 1.8% during the third quarter. Capital World Investors now owns 418,870 shares of the company’s stock worth $236,796,000 after buying an additional 7,428 shares during the last quarter. 85.63% of the stock is owned by institutional investors.

Insider Buying and Selling

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 shares were sold at an average price of $683.04, for a total transaction of $136,608.00. Following the transaction, the insider directly owned 4,039 shares in the company, valued at approximately $2,758,798.56. This represents a 4.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mike Spanos acquired 300 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The stock was acquired at an average price of $665.43 per share, for a total transaction of $199,629.00. Following the completion of the acquisition, the director directly owned 4,499 shares of the company’s stock, valued at $2,993,769.57. This trade 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 corporate insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on CASY shares. Wells Fargo & Company upped their price objective on shares of Casey’s General Stores from $725.00 to $745.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 10th. Stephens reaffirmed an “overweight” rating and set a $680.00 price objective on shares of Casey’s General Stores in a research note on Tuesday, March 10th. Jefferies Financial Group upped their price objective on shares of Casey’s General Stores from $700.00 to $780.00 and gave the stock a “buy” rating in a research note on Tuesday, March 10th. Zacks Research raised shares of Casey’s General Stores from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 23rd. Finally, KeyCorp upped their price objective on shares of Casey’s General Stores from $830.00 to $860.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have assigned 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 $725.09.

Casey’s General Stores Price Performance

Shares of CASY stock opened at $859.49 on Friday. Casey’s General Stores, Inc. has a 1 year low of $430.00 and a 1 year high of $868.08. The firm’s 50 day moving average is $729.25 and its 200-day moving average is $634.05. The firm has a market capitalization of $31.77 billion, a price-to-earnings ratio of 49.34, a PEG ratio of 2.38 and a beta of 0.65. The company has a current ratio of 1.04, a quick ratio of 0.64 and a debt-to-equity ratio of 0.61.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Monday, March 9th. The company reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.94 by $0.55. Casey’s General Stores had a net margin of 3.83% and a return on equity of 17.56%. The company had revenue of $3.92 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same period in the prior year, the business earned $2.33 earnings per share. Casey’s General Stores’s quarterly revenue was up .3% on a year-over-year basis. Sell-side analysts forecast that Casey’s General Stores, Inc. will post 18.24 EPS for the current fiscal year.

Casey’s General Stores Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 1st will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, May 1st. Casey’s General Stores’s dividend payout ratio is presently 13.09%.

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.