Trueblood Wealth Management LLC Has $936,000 Stock Holdings in Casey's General Stores, Inc. (NASDAQ:CASY)

Trueblood Wealth Management LLC grew its holdings in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 35.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,156 shares of the company's stock after acquiring an additional 561 shares during the quarter. Trueblood Wealth Management LLC's holdings in Casey's General Stores were worth $936,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its position in shares of Casey's General Stores by 18.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 758,804 shares of the company's stock valued at $285,090,000 after acquiring an additional 119,350 shares during the period. Kingsview Wealth Management LLC acquired a new stake in Casey's General Stores during the fourth quarter valued at $201,000. WCM Investment Management LLC grew its position in shares of Casey's General Stores by 2.8% during the 4th quarter. WCM Investment Management LLC now owns 4,969 shares of the company's stock valued at $1,981,000 after acquiring an additional 133 shares during the period. Stonebridge Financial Group LLC acquired a new stake in Casey's General Stores in the fourth quarter valued at approximately $203,000. Finally, Wealthcare Capital Partners LLC acquired a new stake in Casey's General Stores in the 4th quarter valued at $259,000. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Katrina S. Lindsey sold 250 shares of the stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $437.01, for a total value of $109,252.50. Following the completion of the sale, the insider now directly owns 2,443 shares of the company's stock, valued at approximately $1,067,615.43. This represents a 9.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.56% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Evercore ISI boosted 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. Wells Fargo & Company boosted their target price on shares of Casey's General Stores from $460.00 to $540.00 and gave the company an "overweight" rating in a report on Wednesday. BMO Capital Markets increased their price target on Casey's General Stores from $450.00 to $515.00 and gave the stock a "market perform" rating in a report on Wednesday. Stephens reiterated an "overweight" rating and issued a $490.00 target price on shares of Casey's General Stores in a report on Tuesday. Finally, Gordon Haskett upgraded shares of Casey's General Stores from a "hold" rating to a "buy" rating in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Casey's General Stores has a consensus rating of "Moderate Buy" and an average price target of $452.43.

Casey's General Stores Price Performance

Shares of CASY traded up $2.97 during midday trading on Thursday, reaching $502.50. The stock had a trading volume of 158,852 shares, compared to its average volume of 305,850. The firm's 50 day moving average price is $450.09 and its 200-day moving average price is $425.25. The company has a market capitalization of $18.65 billion, a P/E ratio of 35.02, a P/E/G ratio of 2.40 and a beta of 0.65. Casey's General Stores, Inc. has a 52 week low of $350.00 and a 52 week high of $509.08. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.88 and a quick ratio of 0.49.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its earnings results on Monday, June 9th. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.69. Casey's General Stores had a net margin of 3.57% and a return on equity of 17.17%. The business had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.95 billion. During the same period last year, the firm posted $2.34 earnings per share. The firm's quarterly revenue was up 10.9% compared to the same quarter last year. On average, analysts forecast that Casey's General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey's General Stores Increases Dividend

The firm also recently disclosed 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 0.45%. The ex-dividend date of this dividend is Friday, August 1st. This is a positive change from Casey's General Stores's previous quarterly dividend of $0.50. Casey's General Stores's payout ratio is presently 13.94%.

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.