D.A. Davidson & CO. Has $2.91 Million Stake in Casey's General Stores, Inc. (NASDAQ:CASY)

D.A. Davidson & CO. increased its position in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 299.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,693 shares of the company's stock after acquiring an additional 5,019 shares during the period. D.A. Davidson & CO.'s holdings in Casey's General Stores were worth $2,905,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CASY. Flagship Harbor Advisors LLC increased its position in Casey's General Stores by 4.1% during the first quarter. Flagship Harbor Advisors LLC now owns 590 shares of the company's stock worth $256,000 after buying an additional 23 shares during the last quarter. HighPoint Advisor Group LLC lifted its stake in shares of Casey's General Stores by 1.7% in the fourth quarter. HighPoint Advisor Group LLC now owns 1,468 shares of the company's stock worth $628,000 after buying an additional 25 shares during the last quarter. Burns J W & Co. Inc. NY boosted its holdings in shares of Casey's General Stores by 2.1% during the 1st quarter. Burns J W & Co. Inc. NY now owns 1,204 shares of the company's stock worth $522,000 after buying an additional 25 shares during the period. Sunbelt Securities Inc. grew its stake in Casey's General Stores by 1.4% in the 1st quarter. Sunbelt Securities Inc. now owns 1,870 shares of the company's stock valued at $812,000 after buying an additional 26 shares during the last quarter. Finally, Dark Forest Capital Management LP raised its holdings in Casey's General Stores by 3.2% in the 4th quarter. Dark Forest Capital Management LP now owns 902 shares of the company's stock worth $357,000 after acquiring an additional 28 shares during the period. Institutional investors and hedge funds own 85.63% of the company's stock.

Casey's General Stores Price Performance

Casey's General Stores stock traded up $8.93 during mid-day trading on Monday, hitting $526.16. 341,788 shares of the company were exchanged, compared to its average volume of 303,235. The company has a market capitalization of $19.56 billion, a PE ratio of 35.94 and a beta of 0.69. The business has a fifty day moving average of $471.16 and a 200 day moving average of $435.78. Casey's General Stores, Inc. has a 1-year low of $350.52 and a 1-year high of $526.14. The company has a quick ratio of 0.48, a current ratio of 0.92 and a debt-to-equity ratio of 0.69.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its earnings results on Monday, June 9th. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.94 by $0.69. The business had revenue of $3.99 billion during the quarter, compared to analysts' expectations of $3.95 billion. Casey's General Stores had a net margin of 3.43% and a return on equity of 16.28%. The firm's revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter last year, the company posted $2.34 EPS. As a group, sell-side analysts expect that Casey's General Stores, Inc. will post 13.94 earnings per share for the current 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 issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 0.43%. This is a boost from Casey's General Stores's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, August 1st. Casey's General Stores's dividend payout ratio (DPR) is currently 15.57%.

Insider Activity

In related news, insider Chad Michael Frazell sold 4,808 shares of Casey's General Stores stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $503.97, for a total value of $2,423,087.76. Following the completion of the transaction, the insider directly owned 11,480 shares of the company's stock, valued at $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 SEC, which is available through the SEC website. Also, CFO Stephen P. Bramlage, Jr. sold 760 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $507.56, for a total transaction of $385,745.60. Following the completion of the sale, the chief financial officer owned 25,994 shares of the company's stock, valued at $13,193,514.64. The trade was a 2.84% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,646 shares of company stock worth $22,136,614. 0.56% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CASY. KeyCorp raised their price target 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. Stephens reaffirmed an "overweight" rating and issued a $490.00 price target on shares of Casey's General Stores in a research report on Tuesday, June 10th. Evercore ISI increased their price objective 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. Wall Street Zen raised shares of Casey's General Stores from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Finally, BMO Capital Markets raised their price target on shares of Casey's General Stores from $450.00 to $515.00 and gave the stock a "market perform" rating in a research report on Wednesday, June 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $453.00.

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.