Bridges Investment Management Inc. Acquires 3,007 Shares of Casey's General Stores, Inc. (NASDAQ:CASY)

Bridges Investment Management Inc. lifted its position in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 1.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 175,836 shares of the company's stock after acquiring an additional 3,007 shares during the period. Casey's General Stores makes up approximately 1.1% of Bridges Investment Management Inc.'s portfolio, making the stock its 26th largest position. Bridges Investment Management Inc. owned approximately 0.47% of Casey's General Stores worth $76,320,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc purchased a new stake in Casey's General Stores in the first quarter worth approximately $25,000. Global Financial Private Client LLC boosted its holdings in Casey's General Stores by 325.0% in the first quarter. Global Financial Private Client LLC now owns 68 shares of the company's stock worth $30,000 after purchasing an additional 52 shares during the last quarter. Whipplewood Advisors LLC boosted its holdings in Casey's General Stores by 160.0% in the first quarter. Whipplewood Advisors LLC now owns 117 shares of the company's stock worth $51,000 after purchasing an additional 72 shares during the last quarter. Wayfinding Financial LLC purchased a new stake in Casey's General Stores in the first quarter worth approximately $59,000. Finally, Heck Capital Advisors LLC purchased a new stake in Casey's General Stores in the fourth quarter worth approximately $79,000. Institutional investors own 85.63% of the company's stock.

Insider Buying and Selling

In other Casey's General Stores news, CEO Darren M. Rebelez sold 20,000 shares of Casey's General Stores stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $507.83, for a total value of $10,156,600.00. Following the sale, the chief executive officer directly owned 89,840 shares in the company, valued at approximately $45,623,447.20. The trade was a 18.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Katrina S. Lindsey sold 2,000 shares of the business's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $506.07, for a total transaction of $1,012,140.00. Following the completion of the sale, the insider owned 4,636 shares in the company, valued at approximately $2,346,140.52. This trade represents a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,646 shares of company stock worth $22,136,614 in the last 90 days. 0.56% of the stock is owned by company insiders.

Casey's General Stores Price Performance

NASDAQ CASY traded down $7.01 on Friday, reaching $516.59. The company had a trading volume of 274,749 shares, compared to its average volume of 305,367. The company has a quick ratio of 0.48, a current ratio of 0.92 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $19.21 billion, a PE ratio of 35.29 and a beta of 0.69. The firm's 50 day moving average price is $477.29 and its 200 day moving average price is $439.38. Casey's General Stores, Inc. has a 12 month low of $350.52 and a 12 month high of $526.82.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its quarterly earnings results 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. The company 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 3.43% and a return on equity of 16.28%. Casey's General Stores's revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.34 EPS. As a group, equities analysts predict that Casey's General Stores, Inc. will post 13.94 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 Friday, August 15th. Shareholders 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. This represents a $2.28 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend is Friday, August 1st. Casey's General Stores's payout ratio is currently 13.66%.

Analyst Ratings Changes

CASY has been the topic of several analyst reports. Stephens reiterated an "overweight" rating and set a $490.00 price target on shares of Casey's General Stores in a research note on Tuesday, June 10th. The Goldman Sachs Group lifted their price target on shares of Casey's General Stores from $385.00 to $450.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 11th. Wells Fargo & Company lifted their price target on shares of 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. Royal Bank Of Canada lifted their price target on shares of Casey's General Stores from $468.00 to $542.00 and gave the stock a "sector perform" rating in a research note on Wednesday. Finally, Wall Street Zen upgraded shares of Casey's General Stores from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. One equities 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 company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $465.25.

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.