Dearborn Partners LLC Sells 18,321 Shares of Casey's General Stores, Inc. (NASDAQ:CASY)

Dearborn Partners LLC lowered its stake in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 18.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 81,067 shares of the company's stock after selling 18,321 shares during the quarter. Casey's General Stores accounts for 1.7% of Dearborn Partners LLC's portfolio, making the stock its 20th biggest position. Dearborn Partners LLC owned 0.22% of Casey's General Stores worth $35,186,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Natixis increased its stake in shares of Casey's General Stores by 21.9% during the fourth quarter. Natixis now owns 8,337 shares of the company's stock valued at $3,303,000 after buying an additional 1,499 shares during the period. Scholtz & Company LLC purchased a new stake in shares of Casey's General Stores in the fourth quarter worth $2,375,000. CenterBook Partners LP purchased a new stake in shares of Casey's General Stores in the fourth quarter worth $1,079,000. Integrated Wealth Concepts LLC boosted its position in shares of Casey's General Stores by 50.2% during the fourth quarter. Integrated Wealth Concepts LLC now owns 2,592 shares of the company's stock valued at $1,027,000 after buying an additional 866 shares during the last quarter. Finally, Security National Bank boosted its position in shares of Casey's General Stores by 9.7% during the first quarter. Security National Bank now owns 5,674 shares of the company's stock valued at $2,463,000 after buying an additional 504 shares during the last quarter. Institutional investors own 85.63% of the company's stock.

Casey's General Stores Price Performance

NASDAQ CASY traded up $2.65 during trading on Friday, hitting $522.78. 199,892 shares of the stock traded hands, compared to its average volume of 274,981. The company has a market capitalization of $19.44 billion, a P/E ratio of 35.71 and a beta of 0.69. The firm has a 50-day simple moving average of $498.60 and a 200-day simple moving average of $452.35. 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 $531.24.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its earnings results on Monday, June 9th. The company reported $2.63 EPS for the quarter, topping analysts' consensus estimates of $1.94 by $0.69. The firm had revenue of $3.99 billion during the quarter, compared to analysts' expectations of $3.95 billion. Casey's General Stores had a return on equity of 16.28% and a net margin of 3.43%. The company's quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.34 EPS. As a group, analysts predict that Casey's General Stores, Inc. will post 13.94 EPS 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 paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, August 1st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.4%. This is an increase from Casey's General Stores's previous quarterly dividend of $0.50. Casey's General Stores's dividend payout ratio is 13.66%.

Wall Street Analysts Forecast Growth

CASY has been the topic of a number of recent research reports. The Goldman Sachs Group increased their target price on Casey's General Stores from $385.00 to $450.00 and gave the company a "neutral" rating in a report on Wednesday, June 11th. Stephens reissued an "overweight" rating and issued a $490.00 target price on shares of Casey's General Stores in a report on Tuesday, June 10th. Wells Fargo & Company increased their target price on Casey's General Stores from $460.00 to $540.00 and gave the company an "overweight" rating in a report on Wednesday, June 11th. Royal Bank Of Canada increased their target price on Casey's General Stores from $468.00 to $542.00 and gave the company a "sector perform" rating in a report on Wednesday, July 9th. Finally, Wall Street Zen raised Casey's General Stores from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $467.33.

Insider Activity

In related news, CFO Stephen P. Bramlage, Jr. sold 760 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The stock was 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 directly owned 25,994 shares of the company's stock, valued at approximately $13,193,514.64. This trade represents a 2.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mike Spanos bought 200 shares of the firm's stock in a transaction on Monday, June 30th. The shares were purchased at an average cost of $503.18 per share, with a total value of $100,636.00. Following the completion of the transaction, the director owned 3,560 shares in the company, valued at $1,791,320.80. This represents a 5.95% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 43,646 shares of company stock worth $22,136,614 in the last three months. Corporate insiders own 0.54% 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.