Central Pacific Bank Trust Division Invests $1.02 Million in Casey’s General Stores, Inc. (NASDAQ:CASY)

Central Pacific Bank Trust Division acquired a new position in Casey’s General Stores, Inc. (NASDAQ:CASY) in the first quarter, HoldingsChannel reports. The firm acquired 3,232 shares of the company’s stock, valued at approximately $1,019,000.

A number of other hedge funds have also recently made changes to their positions in the business. Norges Bank bought a new stake in Casey’s General Stores during the 4th quarter valued at $115,799,000. Congress Asset Management Co. MA bought a new stake in Casey’s General Stores during the 1st quarter valued at $112,081,000. Point72 Asset Management L.P. raised its holdings in Casey’s General Stores by 561.7% during the 4th quarter. Point72 Asset Management L.P. now owns 273,168 shares of the company’s stock valued at $75,050,000 after buying an additional 231,887 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Casey’s General Stores by 113.0% during the 1st quarter. Principal Financial Group Inc. now owns 291,838 shares of the company’s stock valued at $92,936,000 after buying an additional 154,803 shares during the last quarter. Finally, Morgan Stanley raised its holdings in Casey’s General Stores by 7.7% during the 3rd quarter. Morgan Stanley now owns 1,585,359 shares of the company’s stock valued at $430,458,000 after buying an additional 113,437 shares during the last quarter. 85.63% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Benchmark upped their price target on shares of Casey’s General Stores from $350.00 to $410.00 and gave the company a “buy” rating in a report on Thursday, June 13th. Jefferies Financial Group boosted their price objective on shares of Casey’s General Stores from $342.00 to $445.00 and gave the company a “buy” rating in a research report on Wednesday, June 12th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Casey’s General Stores from $375.00 to $420.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. Royal Bank of Canada boosted their price objective on shares of Casey’s General Stores from $322.00 to $361.00 and gave the company a “sector perform” rating in a research report on Wednesday, June 12th. Finally, Evercore ISI reduced their price objective on shares of Casey’s General Stores from $350.00 to $345.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 16th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Casey’s General Stores presently has a consensus rating of “Moderate Buy” and a consensus price target of $380.11.

Casey’s General Stores Stock Down 1.9 %

Shares of NASDAQ:CASY traded down $6.95 during midday trading on Tuesday, reaching $360.62. The company’s stock had a trading volume of 213,897 shares, compared to its average volume of 296,934. The firm has a 50 day moving average of $348.56 and a 200-day moving average of $314.75. The firm has a market capitalization of $13.38 billion, a P/E ratio of 26.85, a PEG ratio of 2.67 and a beta of 0.80. The company has a quick ratio of 0.42, a current ratio of 0.87 and a debt-to-equity ratio of 0.52. Casey’s General Stores, Inc. has a 12-month low of $238.44 and a 12-month high of $389.43.

Casey’s General Stores (NASDAQ:CASY) last released its earnings results on Tuesday, June 11th. The company reported $2.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.64. Casey’s General Stores had a net margin of 3.38% and a return on equity of 17.25%. The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same period in the prior year, the firm earned $1.49 EPS. The company’s revenue was up 8.2% compared to the same quarter last year. On average, research analysts anticipate that Casey’s General Stores, Inc. will post 14.2 earnings per share for the current year.

Casey’s General Stores Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 1st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.55%. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.43. The ex-dividend date is Thursday, August 1st. Casey’s General Stores’s dividend payout ratio is 12.81%.

About Casey’s General Stores

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. Its stores offer pizza, donuts, breakfast items, and sandwiches; and tobacco and nicotine products. The company's stores provide soft drinks, energy, water, sports drinks, juices, coffee, and tea and dairy products; beer, wine, and spirits; snacks, candy, packaged bakery, and other food items; ice, ice cream, meals, and appetizers; health and beauty aids, automotive products, electronic accessories, housewares, and pet supplies; and ATM, lotto/lottery, and prepaid cards.