3,412 Shares in Casey’s General Stores, Inc. $CASY Purchased by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. purchased a new position in Casey’s General Stores, Inc. (NASDAQ:CASY) during the second quarter, HoldingsChannel reports. The firm purchased 3,412 shares of the company’s stock, valued at approximately $1,741,000.

Several other hedge funds and other institutional investors have also bought and sold shares of CASY. Versant Capital Management Inc bought a new position in Casey’s General Stores during the 1st quarter valued at about $25,000. Summit Securities Group LLC bought a new position in Casey’s General Stores during the 1st quarter valued at about $32,000. Iron Horse Wealth Management LLC lifted its stake in Casey’s General Stores by 40.0% during the 1st quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company’s stock valued at $40,000 after acquiring an additional 26 shares during the period. WPG Advisers LLC purchased a new stake in shares of Casey’s General Stores during the 1st quarter valued at about $47,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Casey’s General Stores by 242.9% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 96 shares of the company’s stock valued at $49,000 after purchasing an additional 68 shares during the last quarter. Institutional investors own 85.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. BMO Capital Markets upped their price target on shares of Casey’s General Stores from $515.00 to $540.00 and gave the company a “market perform” rating in a research report on Wednesday, September 10th. 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. Stephens reaffirmed an “overweight” rating and set a $530.00 price target on shares of Casey’s General Stores in a research report on Tuesday, September 9th. Weiss Ratings restated a “buy (b)” rating on shares of Casey’s General Stores in a research note on Saturday, September 27th. Finally, Jefferies Financial Group raised their target price on shares of Casey’s General Stores from $575.00 to $600.00 and gave the stock a “buy” rating in a research note on Tuesday, September 9th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $529.10.

Insider Activity at Casey’s General Stores

In other news, insider Chad Michael Frazell sold 3,487 shares of the stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $555.40, for a total transaction of $1,936,679.80. Following the completion of the transaction, the insider directly owned 7,993 shares in the company, valued at approximately $4,439,312.20. This represents a 30.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.54% of the company’s stock.

Casey’s General Stores Trading Up 1.1%

Shares of CASY opened at $567.48 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.03 and a quick ratio of 0.61. Casey’s General Stores, Inc. has a 1 year low of $366.00 and a 1 year high of $571.57. The company has a 50 day simple moving average of $526.40 and a two-hundred day simple moving average of $488.11. The firm has a market cap of $21.10 billion, a P/E ratio of 36.42 and a beta of 0.68.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Monday, September 8th. The company reported $5.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.02 by $0.75. Casey’s General Stores had a net margin of 3.54% and a return on equity of 16.73%. The business had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.47 billion. During the same period last year, the firm posted $4.83 EPS. The company’s revenue was up 11.5% on a year-over-year basis. On average, equities analysts expect that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey’s General Stores Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Saturday, November 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 0.4%. The ex-dividend date is Friday, October 31st. Casey’s General Stores’s dividend payout ratio is currently 14.63%.

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.