Casey's General Stores, Inc. (NASDAQ:CASY) is Paragon Capital Management LLC's 5th Largest Position

Paragon Capital Management LLC reduced its holdings in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 3.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,883 shares of the company's stock after selling 825 shares during the period. Casey's General Stores makes up about 6.4% of Paragon Capital Management LLC's investment portfolio, making the stock its 5th largest position. Paragon Capital Management LLC owned about 0.07% of Casey's General Stores worth $11,234,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted 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 valued at $236,054,000 after buying an additional 542,855 shares during the last quarter. Norges Bank bought a new stake in Casey's General Stores during the 4th quarter worth approximately $175,607,000. Wellington Management Group LLP grew its holdings in Casey's General Stores by 160.1% during the fourth quarter. Wellington Management Group LLP now owns 428,201 shares of the company's stock valued at $169,666,000 after purchasing an additional 263,545 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Casey's General Stores by 51.5% during the first quarter. Bank of New York Mellon Corp now owns 515,603 shares of the company's stock worth $223,792,000 after acquiring an additional 175,372 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Casey's General Stores by 29.5% in the fourth 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 in the last quarter. 85.63% of the stock is owned by institutional investors.

Insider Activity at Casey's General Stores

In related news, insider Chad Michael Frazell sold 4,808 shares of the business's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $503.97, for a total transaction of $2,423,087.76. Following the sale, the insider owned 11,480 shares of the company's stock, valued at approximately $5,785,575.60. The trade was a 29.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Darren M. Rebelez sold 20,000 shares of the business's stock in a transaction dated 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 sale, the chief executive officer directly owned 89,840 shares in the company, valued at approximately $45,623,447.20. This represents a 18.21% decrease in their position. 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 three months. Company insiders own 0.56% of the company's stock.

Casey's General Stores Trading Up 1.2%

Shares of NASDAQ:CASY traded up $6.12 during mid-day trading on Tuesday, reaching $524.38. 82,993 shares of the company were exchanged, compared to its average volume of 305,506. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.92 and a quick ratio of 0.48. The firm has a market cap of $19.50 billion, a price-to-earnings ratio of 35.81 and a beta of 0.69. The firm's 50-day simple moving average is $483.00 and its 200 day simple moving average is $444.03. Casey's General Stores, Inc. has a 1 year low of $350.52 and a 1 year high of $526.82.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its quarterly earnings results on Monday, June 9th. The company reported $2.63 EPS for the quarter, beating 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 company had revenue of $3.99 billion during the quarter, compared to analysts' expectations of $3.95 billion. During the same quarter last year, the company posted $2.34 EPS. The firm's revenue was up 10.9% compared to the same quarter last year. Equities research analysts forecast that Casey's General Stores, Inc. will post 13.94 EPS for the current year.

Casey's General Stores Increases Dividend

The firm also recently disclosed 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 is an increase from Casey's General Stores's previous quarterly dividend of $0.50. This represents a $2.28 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Friday, August 1st. Casey's General Stores's dividend payout ratio (DPR) is presently 13.66%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CASY shares. Evercore ISI raised their price target on 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 raised their target price on Casey's General Stores from $460.00 to $540.00 and gave the stock an "overweight" rating in a report on Wednesday, June 11th. KeyCorp raised their price objective on Casey's General Stores from $500.00 to $550.00 and gave the company an "overweight" rating in a research report on Wednesday, June 11th. The Goldman Sachs Group lifted their price target on shares of Casey's General Stores from $385.00 to $450.00 and gave the company a "neutral" rating in a research note on Wednesday, June 11th. 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 equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $465.25.

Casey's General Stores 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.