PNC Financial Services Group Inc. Lowers Holdings in Casey’s General Stores, Inc. (NASDAQ:CASY)

PNC Financial Services Group Inc. lowered its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 3.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,486 shares of the company’s stock after selling 102 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Casey’s General Stores were worth $683,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. BKM Wealth Management LLC purchased a new position in Casey’s General Stores during the fourth quarter worth about $29,000. V Square Quantitative Management LLC purchased a new position in shares of Casey’s General Stores during the 4th quarter worth approximately $35,000. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Casey’s General Stores in the 4th quarter valued at approximately $36,000. ICA Group Wealth Management LLC purchased a new position in Casey’s General Stores in the fourth quarter valued at about $41,000. Finally, SRS Capital Advisors Inc. lifted its position in shares of Casey’s General Stores by 283.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 165 shares of the company’s stock valued at $45,000 after acquiring an additional 122 shares during the period. Institutional investors and hedge funds own 85.63% of the company’s stock.

Casey’s General Stores Stock Performance

Casey’s General Stores stock opened at $380.97 on Wednesday. Casey’s General Stores, Inc. has a 12 month low of $222.15 and a 12 month high of $389.43. The stock’s 50-day moving average is $336.90 and its 200-day moving average is $307.65. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.87 and a quick ratio of 0.42. The company has a market cap of $14.10 billion, a price-to-earnings ratio of 28.37, a price-to-earnings-growth ratio of 2.69 and a beta of 0.83.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Tuesday, June 11th. The company reported $2.34 EPS for the quarter, beating the consensus estimate of $1.70 by $0.64. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.47 billion. Casey’s General Stores had a return on equity of 17.25% and a net margin of 3.38%. The company’s revenue was up 8.2% on a year-over-year basis. During the same period last year, the business posted $1.49 EPS. Equities analysts anticipate that Casey’s General Stores, Inc. will post 14.18 earnings per share for the current year.

Casey’s General Stores Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, August 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.52%. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.43. Casey’s General Stores’s dividend payout ratio (DPR) is presently 12.81%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CASY shares. Northcoast Research cut Casey’s General Stores from a “buy” rating to a “neutral” rating in a report on Wednesday, May 15th. BMO Capital Markets upped their price target on shares of Casey’s General Stores from $305.00 to $400.00 and gave the company a “market perform” rating in a report on Thursday, June 13th. Jefferies Financial Group raised their price objective on shares of Casey’s General Stores from $342.00 to $445.00 and gave the stock a “buy” rating in a research note on Wednesday, June 12th. StockNews.com lowered Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 20th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Casey’s General Stores from $375.00 to $420.00 and gave the stock a “buy” rating in a research report on Thursday, June 13th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $380.11.

Casey’s General Stores Company Profile

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.