Casey's General Stores, Inc. (NASDAQ:CASY) Stake Increased by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale increased its stake in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 201.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,862 shares of the company's stock after purchasing an additional 17,951 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.07% of Casey's General Stores worth $11,433,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Flagship Harbor Advisors LLC grew its stake in Casey's General Stores by 4.1% in the 1st quarter. Flagship Harbor Advisors LLC now owns 590 shares of the company's stock valued at $256,000 after acquiring an additional 23 shares during the last quarter. HighPoint Advisor Group LLC grew its stake in Casey's General Stores by 1.7% in the 4th quarter. HighPoint Advisor Group LLC now owns 1,468 shares of the company's stock valued at $628,000 after acquiring an additional 25 shares during the last quarter. Burns J W & Co. Inc. NY grew its stake in Casey's General Stores by 2.1% in the 1st quarter. Burns J W & Co. Inc. NY now owns 1,204 shares of the company's stock valued at $522,000 after acquiring an additional 25 shares during the last quarter. 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 acquiring an additional 26 shares during the last quarter. Finally, Dark Forest Capital Management LP grew its stake 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 valued at $357,000 after acquiring an additional 28 shares during the last quarter. Hedge funds and other institutional investors own 85.63% of the company's stock.

Insider Activity

In other news, CFO Stephen P. Bramlage, Jr. sold 8,478 shares of the business's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $509.21, for a total transaction of $4,317,082.38. Following the transaction, the chief financial officer directly owned 26,754 shares of the company's stock, valued at approximately $13,623,404.34. The trade was a 24.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Chad Michael Frazell sold 4,808 shares of the business's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $503.97, for a total transaction of $2,423,087.76. Following the transaction, the insider directly owned 11,480 shares in the company, valued at approximately $5,785,575.60. The trade was a 29.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,646 shares of company stock valued at $22,136,614 over the last quarter. 0.56% of the stock is owned by insiders.

Casey's General Stores Trading Down 1.3%

Shares of CASY traded down $7.01 during mid-day trading on Friday, hitting $516.59. The company had a trading volume of 274,749 shares, compared to its average volume of 305,367. The business's 50-day simple moving average is $477.29 and its 200-day simple moving average is $439.38. 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 1-year low of $350.52 and a 1-year high of $526.82. The stock has a market cap of $19.21 billion, a PE ratio of 35.29 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 earnings per share for the quarter, beating analysts' consensus estimates of $1.94 by $0.69. The firm had revenue of $3.99 billion for 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%. Casey's General Stores's revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.34 earnings per share. 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 firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 0.44%. This is a boost from Casey's General Stores's previous quarterly dividend of $0.50. The ex-dividend date is Friday, August 1st. Casey's General Stores's payout ratio is 13.66%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CASY. Evercore ISI increased their price objective on shares of 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. 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. Wall Street Zen raised shares of Casey's General Stores from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. The Goldman Sachs Group raised their price target on shares of Casey's General Stores from $385.00 to $450.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 11th. Finally, Royal Bank Of Canada raised their price target on shares of Casey's General Stores from $468.00 to $542.00 and gave the stock a "sector perform" rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $465.25.

Casey's General Stores Company 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.