BNC Wealth Management LLC Acquires Shares of 502 Casey's General Stores, Inc. (NASDAQ:CASY)

BNC Wealth Management LLC bought a new stake in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 502 shares of the company's stock, valued at approximately $218,000.

Other institutional investors also recently made changes to their positions in the company. Natixis grew its holdings in shares of Casey's General Stores by 21.9% during the fourth quarter. Natixis now owns 8,337 shares of the company's stock valued at $3,303,000 after purchasing an additional 1,499 shares during the last quarter. Sanctuary Advisors LLC grew its holdings in shares of Casey's General Stores by 55.6% during the fourth quarter. Sanctuary Advisors LLC now owns 8,579 shares of the company's stock valued at $3,629,000 after purchasing an additional 3,065 shares during the last quarter. Scholtz & Company LLC bought a new position in shares of Casey's General Stores during the fourth quarter valued at approximately $2,375,000. JLB & Associates Inc. grew its holdings in shares of Casey's General Stores by 1.8% during the fourth quarter. JLB & Associates Inc. now owns 43,029 shares of the company's stock valued at $17,049,000 after purchasing an additional 749 shares during the last quarter. Finally, Segall Bryant & Hamill LLC grew its holdings in shares of Casey's General Stores by 9.1% during the fourth quarter. Segall Bryant & Hamill LLC now owns 53,330 shares of the company's stock valued at $21,131,000 after purchasing an additional 4,458 shares during the last quarter. 85.63% of the stock is owned by institutional investors.

Casey's General Stores Stock Down 0.2%

Casey's General Stores stock traded down $0.83 during mid-day trading on Friday, hitting $506.16. 457,861 shares of the company's stock were exchanged, compared to its average volume of 301,946. The company has a current ratio of 0.88, a quick ratio of 0.49 and a debt-to-equity ratio of 0.74. The stock has a market cap of $18.79 billion, a P/E ratio of 35.27, a P/E/G ratio of 2.40 and a beta of 0.65. Casey's General Stores, Inc. has a 1-year low of $350.52 and a 1-year high of $512.88. The stock has a 50 day moving average of $453.67 and a two-hundred day moving average of $426.36.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its earnings results on Monday, June 9th. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $1.94 by $0.69. The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.95 billion. Casey's General Stores had a net margin of 3.57% and a return on equity of 17.17%. The business's quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.34 earnings per share. As a group, analysts anticipate 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 announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 0.45%. This is an increase from Casey's General Stores's previous quarterly dividend of $0.50. The ex-dividend date is Friday, August 1st. Casey's General Stores's dividend payout ratio is presently 15.57%.

Wall Street Analyst Weigh In

CASY has been the subject of a number of recent analyst reports. The Goldman Sachs Group increased their price objective on Casey's General Stores from $385.00 to $450.00 and gave the stock a "neutral" rating in a report on Wednesday. Wells Fargo & Company upped their target price on Casey's General Stores from $460.00 to $540.00 and gave the stock an "overweight" rating in a research report on Wednesday. Stephens reiterated an "overweight" rating and set a $490.00 price objective on shares of Casey's General Stores in a research report on Tuesday. Royal Bank of Canada set a $438.00 target price on Casey's General Stores and gave the company a "sector perform" rating in a report on Wednesday, March 12th. Finally, KeyCorp increased their target price on Casey's General Stores from $500.00 to $550.00 and gave the company an "overweight" rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $453.00.

Insider Activity

In related news, insider Katrina S. Lindsey sold 250 shares of Casey's General Stores stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $437.01, for a total transaction of $109,252.50. Following the sale, the insider now directly owns 2,443 shares of the company's stock, valued at $1,067,615.43. This trade represents a 9.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Allison M. Wing sold 1,000 shares of the firm's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $502.16, for a total transaction of $502,160.00. Following the transaction, the director now owns 3,058 shares of the company's stock, valued at approximately $1,535,605.28. This represents a 24.64% decrease in their position. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by company insiders.

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.