Ameritas Advisory Services LLC Acquires New Stake in Casey's General Stores, Inc. (NASDAQ:CASY)

Ameritas Advisory Services LLC bought a new position in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 561 shares of the company's stock, valued at approximately $242,000.

A number of other institutional investors have also recently made changes to their positions in CASY. Vanguard Group Inc. lifted its stake in shares of Casey's General Stores by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 3,799,104 shares of the company's stock worth $1,505,319,000 after acquiring an additional 44,295 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in shares of Casey's General Stores by 1.8% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,776,323 shares of the company's stock worth $703,833,000 after purchasing an additional 31,131 shares during the period. Franklin Resources Inc. lifted its position in shares of 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 purchasing an additional 154,541 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Casey's General Stores in the 4th quarter valued at $236,500,000. Finally, GAMMA Investing LLC increased its position in shares of Casey's General Stores by 54,448.8% during the first quarter. GAMMA Investing LLC now owns 543,852 shares of the company's stock worth $236,054,000 after buying an additional 542,855 shares during the period. Institutional investors own 85.63% of the company's stock.

Casey's General Stores Stock Performance

Shares of CASY stock opened at $516.85 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.48 and a debt-to-equity ratio of 0.69. The firm has a fifty day simple moving average of $469.77 and a two-hundred day simple moving average of $434.73. Casey's General Stores, Inc. has a 12 month low of $350.52 and a 12 month high of $517.31. The firm has a market capitalization of $19.22 billion, a PE ratio of 35.30, a price-to-earnings-growth ratio of 2.56 and a beta of 0.69.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its quarterly earnings data on Monday, June 9th. The company reported $2.63 earnings per share (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 analysts' expectations of $3.95 billion. During the same period last year, the company earned $2.34 earnings per share. The business's revenue was up 10.9% on a year-over-year basis. 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be issued a dividend of $0.57 per share. This is a positive change from Casey's General Stores's previous quarterly dividend of $0.50. This represents a $2.28 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date is Friday, August 1st. Casey's General Stores's payout ratio is currently 13.66%.

Insider Transactions at Casey's General Stores

In other Casey's General Stores news, CFO Stephen P. Bramlage, Jr. sold 760 shares of the firm's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $507.56, for a total transaction of $385,745.60. Following the transaction, the chief financial officer directly owned 25,994 shares in the company, valued at approximately $13,193,514.64. This trade represents a 2.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Darren M. Rebelez sold 20,000 shares of Casey's General Stores stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $507.83, for a total transaction of $10,156,600.00. Following the transaction, the chief executive officer directly owned 89,840 shares in the company, valued at $45,623,447.20. This represents a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,646 shares of company stock valued at $22,136,614. Corporate insiders own 0.56% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on CASY. Royal Bank Of Canada set a $438.00 target price on shares of Casey's General Stores and gave the company a "sector perform" rating in a report on Wednesday, March 12th. Stephens restated an "overweight" rating and set a $490.00 target price on shares of Casey's General Stores in a research report on Tuesday, June 10th. Wells Fargo & Company raised their target price on Casey's General Stores from $460.00 to $540.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 11th. Wall Street Zen raised Casey's General Stores from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Finally, The Goldman Sachs Group raised their price objective on shares of Casey's General Stores from $385.00 to $450.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $453.00.

Casey's General Stores Company 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.

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