Alps Advisors Inc. Purchases 569 Shares of Casey's General Stores, Inc. (NASDAQ:CASY)

Alps Advisors Inc. lifted its stake in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 6.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,446 shares of the company's stock after purchasing an additional 569 shares during the period. Alps Advisors Inc.'s holdings in Casey's General Stores were worth $4,100,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CASY. GAMMA Investing LLC increased its stake in shares of Casey's General Stores by 54,448.8% in the 1st quarter. GAMMA Investing LLC now owns 543,852 shares of the company's stock worth $236,054,000 after purchasing an additional 542,855 shares in the last quarter. Norges Bank bought a new position in Casey's General Stores in the 4th quarter worth $175,607,000. Wellington Management Group LLP boosted its holdings in Casey's General Stores by 160.1% in the 4th quarter. Wellington Management Group LLP now owns 428,201 shares of the company's stock worth $169,666,000 after buying an additional 263,545 shares during the period. Bank of New York Mellon Corp boosted its holdings in Casey's General Stores by 51.5% in the 1st quarter. Bank of New York Mellon Corp now owns 515,603 shares of the company's stock worth $223,792,000 after buying an additional 175,372 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in Casey's General Stores by 29.5% in the 4th quarter. Franklin Resources Inc. now owns 678,778 shares of the company's stock worth $268,952,000 after buying an additional 154,541 shares during the period. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Casey's General Stores Price Performance

Shares of CASY traded down $7.01 during midday trading on Friday, hitting $516.59. 274,749 shares of the company traded hands, compared to its average volume of 305,367. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.48 and a current ratio of 0.92. Casey's General Stores, Inc. has a 52 week low of $350.52 and a 52 week high of $526.82. The firm has a 50 day moving average of $477.29 and a 200-day moving average of $439.38. The stock has a market cap of $19.21 billion, a price-to-earnings ratio of 35.29 and a beta of 0.69.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its quarterly earnings results on Monday, June 9th. The company reported $2.63 EPS for the quarter, beating analysts' consensus estimates of $1.94 by $0.69. Casey's General Stores had a net margin of 3.43% and a return on equity of 16.28%. The firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.95 billion. During the same quarter last year, the firm earned $2.34 EPS. The firm's revenue for the quarter was up 10.9% compared to the same quarter last year. On average, analysts forecast that Casey's General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey's General Stores Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be issued a $0.57 dividend. This is an increase from Casey's General Stores's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, August 1st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.44%. Casey's General Stores's dividend payout ratio (DPR) is presently 13.66%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Stephens reaffirmed an "overweight" rating and issued a $490.00 target price on shares of Casey's General Stores in a report on Tuesday, June 10th. KeyCorp upped their target price on shares of Casey's General Stores from $500.00 to $550.00 and gave the stock an "overweight" rating in a report on Wednesday, June 11th. BMO Capital Markets upped their target price on shares of Casey's General Stores from $450.00 to $515.00 and gave the stock a "market perform" rating in a report on Wednesday, June 11th. Royal Bank Of Canada upped their target price on shares of Casey's General Stores from $468.00 to $542.00 and gave the stock a "sector perform" rating in a report on Wednesday. Finally, Wall Street Zen raised shares of Casey's General Stores from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Casey's General Stores has an average rating of "Moderate Buy" and an average target price of $465.25.

Insider Transactions at Casey's General Stores

In related news, insider Katrina S. Lindsey sold 2,000 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $506.07, for a total value of $1,012,140.00. Following the completion of the transaction, the insider owned 4,636 shares of the company's stock, valued at approximately $2,346,140.52. This trade represents a 30.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Stephen P. Bramlage, Jr. sold 8,478 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $509.21, for a total transaction of $4,317,082.38. Following the completion of the transaction, the chief financial officer directly owned 26,754 shares of the company's stock, valued at approximately $13,623,404.34. The trade was a 24.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,646 shares of company stock worth $22,136,614 in the last quarter. Company insiders own 0.56% of the company's stock.

About Casey's General Stores

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.