Burney Co. Decreases Stock Position in Casey's General Stores, Inc. (NASDAQ:CASY)

Burney Co. lowered its stake in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 22.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,808 shares of the company's stock after selling 1,085 shares during the period. Burney Co.'s holdings in Casey's General Stores were worth $1,653,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CASY. GAMMA Investing LLC raised its position in shares of Casey's General Stores by 54,448.8% in 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 in the last quarter. Norges Bank purchased a new position in shares of Casey's General Stores during the fourth quarter worth about $175,607,000. Wellington Management Group LLP increased its position in shares of Casey's General Stores by 160.1% in the fourth quarter. Wellington Management Group LLP now owns 428,201 shares of the company's stock worth $169,666,000 after purchasing an additional 263,545 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Casey's General Stores by 51.5% in the first quarter. Bank of New York Mellon Corp now owns 515,603 shares of the company's stock valued at $223,792,000 after purchasing an additional 175,372 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in Casey's General Stores by 29.5% during the fourth quarter. Franklin Resources Inc. now owns 678,778 shares of the company's stock valued at $268,952,000 after purchasing an additional 154,541 shares during the last quarter. 85.63% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CASY has been the subject of a number of research analyst reports. BMO Capital Markets lifted their price objective 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. Wall Street Zen raised Casey's General Stores from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Evercore ISI increased their price target on shares of Casey's General Stores from $450.00 to $460.00 and gave the company an "outperform" rating in a research report on Tuesday, April 1st. Wells Fargo & Company boosted their price objective on shares of Casey's General Stores from $460.00 to $540.00 and gave the stock an "overweight" rating in a report on Wednesday, June 11th. Finally, Stephens reaffirmed an "overweight" rating and set a $490.00 target price on shares of Casey's General Stores in a report on Tuesday, June 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $467.33.

Insider Buying and Selling at Casey's General Stores

In related news, CFO Stephen P. Bramlage, Jr. sold 760 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer owned 25,994 shares of the company's stock, valued at $13,193,514.64. This trade represents a 2.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Katrina S. Lindsey sold 2,000 shares of Casey's General Stores stock in a transaction on 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 transaction, the insider owned 4,636 shares of the company's stock, valued at $2,346,140.52. The trade was a 30.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,646 shares of company stock valued at $22,136,614 over the last three months. 0.56% of the stock is currently owned by corporate insiders.

Casey's General Stores Trading Up 0.3%

Shares of Casey's General Stores stock traded up $1.45 during midday trading on Friday, reaching $527.51. 280,314 shares of the company's stock traded hands, compared to its average volume of 291,770. The company has a market cap of $19.61 billion, a PE ratio of 36.03 and a beta of 0.69. The stock has a 50 day moving average of $491.40 and a 200-day moving average of $447.80. Casey's General Stores, Inc. has a 12 month low of $350.52 and a 12 month high of $531.24. 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 (NASDAQ:CASY - Get Free Report) last issued its quarterly earnings data on Monday, June 9th. The company reported $2.63 EPS for the quarter, topping the consensus estimate 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 business had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.95 billion. During the same period last year, the business posted $2.34 earnings per share. Casey's General Stores's quarterly revenue was up 10.9% compared to the same quarter last year. As a group, equities analysts expect 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 paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 0.43%. This is a positive change 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 (DPR) is presently 15.57%.

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.