Advisors Capital Management LLC Buys New Position in Casey's General Stores, Inc. $CASY

Advisors Capital Management LLC purchased a new position in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 40,014 shares of the company's stock, valued at approximately $31,803,000. Advisors Capital Management LLC owned 0.11% of Casey's General Stores as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CASY. Vise Technologies Inc. bought a new position in Casey's General Stores during the second quarter worth $1,743,000. Foresight Global Investors Inc. acquired a new position in Casey's General Stores during the 2nd quarter valued at $411,000. NWK Group Inc. bought a new stake in Casey's General Stores in the 2nd quarter valued at $1,318,000. AssuredPartners Investment Advisors LLC acquired a new stake in Casey's General Stores in the 2nd quarter worth $6,501,000. Finally, Johnson Financial Group Inc. acquired a new stake in Casey's General Stores in the 2nd quarter worth $55,000. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CASY shares. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $1,000.00 price objective on shares of Casey's General Stores in a report on Monday, June 15th. Capital One Financial started coverage on Casey's General Stores in a research report on Monday, June 22nd. They set an "equal weight" rating and a $896.00 target price on the stock. KeyCorp boosted their price target on Casey's General Stores from $950.00 to $970.00 and gave the company an "overweight" rating in a research note on Thursday, June 11th. Wall Street Zen raised Casey's General Stores from a "hold" rating to a "buy" rating in a report on Saturday, June 13th. Finally, Wolfe Research reiterated an "outperform" rating and issued a $1,069.00 price objective on shares of Casey's General Stores in a research report on Thursday, June 11th. Fourteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $944.20.

Insider Buying and Selling

In other Casey's General Stores news, Director Allison M. Wing sold 530 shares of the business's stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $837.58, for a total value of $443,917.40. Following the completion of the transaction, the director directly owned 3,042 shares of the company's stock, valued at approximately $2,547,918.36. The trade was a 14.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Darren M. Rebelez sold 19,000 shares of the company's stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $801.46, for a total transaction of $15,227,740.00. Following the transaction, the chief executive officer owned 89,174 shares in the company, valued at $71,469,394.04. The trade was a 17.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 30,243 shares of company stock valued at $24,421,877. Insiders own 0.67% of the company's stock.

Casey's General Stores Trading Down 0.9%

Shares of CASY opened at $828.38 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 1.01. The company has a market cap of $30.66 billion, a price-to-earnings ratio of 43.23, a PEG ratio of 2.80 and a beta of 0.61. The stock has a fifty day moving average price of $838.47 and a two-hundred day moving average price of $775.47. Casey's General Stores, Inc. has a 52-week low of $490.00 and a 52-week high of $927.85.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its earnings results on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, topping the consensus estimate of $3.31 by $1.06. Casey's General Stores had a return on equity of 18.73% and a net margin of 4.07%.The company had revenue of $4.57 billion for the quarter, compared to analysts' expectations of $4.33 billion. During the same quarter in the prior year, the business earned $2.63 earnings per share. The business's revenue for the quarter was up 14.5% on a year-over-year basis. Analysts predict that Casey's General Stores, Inc. will post 21.11 EPS for the current fiscal year.

Casey's General Stores Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Saturday, August 1st were given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.3%. The ex-dividend date was Friday, July 31st. This is a boost from Casey's General Stores's previous quarterly dividend of $0.57. Casey's General Stores's dividend payout ratio is 13.57%.

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.

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