Dakota Wealth Management Takes $474,000 Position in Casey's General Stores, Inc. (NASDAQ:CASY)

Dakota Wealth Management bought a new position in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,092 shares of the company's stock, valued at approximately $474,000.

A number of other large investors have also modified their holdings of the business. GAMMA Investing LLC grew its holdings 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 purchasing an additional 542,855 shares in the last quarter. Norges Bank acquired a new stake in Casey's General Stores in the 4th quarter valued at about $175,607,000. Wellington Management Group LLP lifted its holdings in Casey's General Stores by 160.1% in the 4th 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 in the last quarter. Bank of New York Mellon Corp increased its position in Casey's General Stores by 51.5% during the 1st quarter. Bank of New York Mellon Corp now owns 515,603 shares of the company's stock worth $223,792,000 after purchasing an additional 175,372 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in Casey's General Stores by 29.5% in the fourth quarter. Franklin Resources Inc. now owns 678,778 shares of the company's stock valued at $268,952,000 after acquiring an additional 154,541 shares in the last quarter. Hedge funds and other institutional investors own 85.63% of the company's stock.

Insider Activity

In other news, insider Katrina S. Lindsey sold 2,000 shares of the firm's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $506.07, for a total transaction of $1,012,140.00. Following the completion of the transaction, the insider owned 4,636 shares in the company, valued at approximately $2,346,140.52. This trade represents a 30.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Darren M. Rebelez sold 20,000 shares of the company's 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 directly owned 89,840 shares of the company's stock, valued at $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. Insiders have sold a total of 43,646 shares of company stock valued at $22,136,614 in the last ninety days. 0.56% of the stock is owned by company insiders.

Casey's General Stores Trading Up 1.6%

Shares of Casey's General Stores stock traded up $8.01 during mid-day trading on Monday, hitting $518.26. The stock had a trading volume of 278,343 shares, compared to its average volume of 306,380. The firm has a 50-day moving average of $483.00 and a two-hundred day moving average of $444.03. 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, Inc. has a 12-month low of $350.52 and a 12-month high of $544.25. The firm has a market cap of $19.27 billion, a P/E ratio of 35.40 and a beta of 0.69.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its quarterly earnings results on Monday, June 9th. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $1.94 by $0.69. The firm had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.95 billion. Casey's General Stores had a net margin of 3.43% and a return on equity of 16.28%. Casey's General Stores's revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period last year, the business earned $2.34 EPS. Sell-side analysts forecast that Casey's General Stores, Inc. will post 13.94 earnings per share for the current 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 given a dividend of $0.57 per share. This is a positive change from Casey's General Stores's previous quarterly dividend of $0.50. The ex-dividend date is Friday, August 1st. This represents a $2.28 annualized dividend and a yield of 0.44%. Casey's General Stores's dividend payout ratio is 13.66%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CASY shares. 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. Evercore ISI lifted their target price on Casey's General Stores from $450.00 to $460.00 and gave the company an "outperform" rating in a research note on Tuesday, April 1st. The Goldman Sachs Group upped their target price on Casey's General Stores from $385.00 to $450.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 11th. Wells Fargo & Company upped their target price on 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. Finally, KeyCorp raised their target price on 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. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $465.25.

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.