Copeland Capital Management LLC Sells 5,642 Shares of Casey's General Stores, Inc. (NASDAQ:CASY)

Copeland Capital Management LLC lowered its position in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 2.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 238,066 shares of the company's stock after selling 5,642 shares during the quarter. Casey's General Stores accounts for approximately 2.1% of Copeland Capital Management LLC's investment portfolio, making the stock its 5th largest position. Copeland Capital Management LLC owned approximately 0.64% of Casey's General Stores worth $103,331,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in shares of Casey's General Stores during the fourth quarter valued at $236,500,000. GAMMA Investing LLC lifted its holdings 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 valued at $236,054,000 after purchasing an additional 542,855 shares during the last quarter. Norges Bank purchased a new stake in shares of Casey's General Stores during the fourth quarter valued at $175,607,000. Wellington Management Group LLP lifted its holdings in shares of 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 last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of 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. Institutional investors own 85.63% of the company's stock.

Casey's General Stores Stock Up 0.4%

Shares of CASY traded up $2.17 during midday trading on Friday, reaching $506.18. 456,080 shares of the stock were exchanged, compared to its average volume of 301,658. Casey's General Stores, Inc. has a 12-month low of $350.52 and a 12-month high of $514.32. The firm has a 50 day simple moving average of $465.06 and a 200-day simple moving average of $432.38. 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 company has a market cap of $18.82 billion, a price-to-earnings ratio of 34.58, a P/E/G ratio of 2.52 and a beta of 0.65.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its quarterly earnings results on Monday, June 9th. The company reported $2.63 earnings per share for the quarter, topping analysts' consensus estimates of $1.94 by $0.69. Casey's General Stores had a return on equity of 16.28% and a net margin of 3.43%. The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.95 billion. During the same period last year, the business earned $2.34 EPS. The business's quarterly revenue was up 10.9% on a year-over-year basis. 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 company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be paid a dividend of $0.57 per share. The ex-dividend date is Friday, August 1st. 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 dividend yield of 0.45%. Casey's General Stores's dividend payout ratio (DPR) is 13.66%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. KeyCorp upped 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, June 11th. BMO Capital Markets upped their target price on Casey's General Stores from $450.00 to $515.00 and gave the company 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 research note on Saturday, June 14th. Royal Bank Of Canada set a $438.00 price objective on Casey's General Stores and gave the stock a "sector perform" rating in a research note on Wednesday, March 12th. Finally, Evercore ISI increased their price objective on Casey's General Stores from $450.00 to $460.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 1st. 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.com, the stock has an average rating of "Moderate Buy" and an average target price of $453.00.

Insider Transactions at Casey's General Stores

In other news, CEO Darren M. Rebelez sold 20,000 shares of the 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 transaction, the chief executive officer now owns 89,840 shares of the company's stock, valued at approximately $45,623,447.20. This represents 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 Thomas P. Brennan, Jr. sold 6,600 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $506.03, for a total value of $3,339,798.00. Following the transaction, the insider now directly owns 2,100 shares in the company, valued at approximately $1,062,663. This represents a 75.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,136 shares of company stock valued at $21,860,121 in the last three months. Corporate insiders own 0.56% of the company's stock.

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.