Consolidated Planning Corp Grows Position in Casey's General Stores, Inc. (NASDAQ:CASY)

Consolidated Planning Corp lifted its stake in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 417.1% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,383 shares of the company's stock after buying an additional 4,342 shares during the quarter. Consolidated Planning Corp's holdings in Casey's General Stores were worth $2,336,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of CASY. Versant Capital Management Inc purchased a new stake in Casey's General Stores during the first quarter valued at $25,000. Global Financial Private Client LLC raised its stake in Casey's General Stores by 325.0% during the first quarter. Global Financial Private Client LLC now owns 68 shares of the company's stock valued at $30,000 after purchasing an additional 52 shares in the last quarter. Whipplewood Advisors LLC raised its stake in Casey's General Stores by 160.0% during the first quarter. Whipplewood Advisors LLC now owns 117 shares of the company's stock valued at $51,000 after purchasing an additional 72 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in Casey's General Stores during the fourth quarter valued at $79,000. Finally, Point72 Hong Kong Ltd purchased a new stake in Casey's General Stores during the fourth quarter valued at $87,000. Hedge funds and other institutional investors own 85.63% of the company's stock.

Casey's General Stores Stock Performance

CASY stock opened at $500.27 on Monday. The firm has a market cap of $18.57 billion, a price-to-earnings ratio of 34.17, a PEG ratio of 2.50 and a beta of 0.66. The firm has a 50-day simple moving average of $460.38 and a two-hundred day simple moving average of $429.45. Casey's General Stores, Inc. has a one year low of $350.52 and a one year high of $512.88. 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 announced its quarterly earnings data 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 firm had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.95 billion. During the same period last year, the firm posted $2.34 EPS. Casey's General Stores's revenue was up 10.9% on a year-over-year basis. On average, equities analysts forecast that Casey's General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey's General Stores Increases Dividend

The business 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. The ex-dividend date of this dividend is Friday, August 1st. This represents a $2.28 dividend on an annualized basis and a yield of 0.46%. This is a boost from Casey's General Stores's previous quarterly dividend of $0.50. Casey's General Stores's dividend payout ratio (DPR) is currently 13.66%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CASY. KeyCorp upped their price target on shares of Casey's General Stores from $500.00 to $550.00 and gave the company an "overweight" rating in a research note on Wednesday, June 11th. Wells Fargo & Company upped their price target on shares of Casey's General Stores from $460.00 to $540.00 and gave the company an "overweight" rating in a research note on Wednesday, June 11th. Stephens reaffirmed 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. Royal Bank Of Canada set a $438.00 target price on shares of Casey's General Stores and gave the company a "sector perform" rating in a research note on Wednesday, March 12th. Finally, BMO Capital Markets increased their target price on shares of Casey's General Stores from $450.00 to $515.00 and gave the company a "market perform" rating in a research note on Wednesday, June 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $453.00.

Insider Activity at Casey's General Stores

In other Casey's General Stores news, insider Thomas P. Brennan, Jr. sold 6,600 shares of the company's 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 owns 2,100 shares of the company's stock, valued at $1,062,663. This represents a 75.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Darren M. Rebelez sold 20,000 shares of Casey's General Stores stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $507.83, for a total transaction of $10,156,600.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,136 shares of company stock valued at $21,860,121. 0.56% of the stock is owned by company insiders.

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.

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