Fortem Financial Group LLC lessened its stake in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 15.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,785 shares of the company's stock after selling 522 shares during the period. Fortem Financial Group LLC's holdings in Casey's General Stores were worth $1,209,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also modified their holdings of the company. Natixis increased its position in shares of Casey's General Stores by 21.9% during the 4th quarter. Natixis now owns 8,337 shares of the company's stock worth $3,303,000 after purchasing an additional 1,499 shares during the last quarter. Scholtz & Company LLC acquired a new stake in shares of Casey's General Stores during the 4th quarter worth about $2,375,000. Segall Bryant & Hamill LLC increased its position in shares of Casey's General Stores by 9.1% during the 4th quarter. Segall Bryant & Hamill LLC now owns 53,330 shares of the company's stock worth $21,131,000 after purchasing an additional 4,458 shares during the last quarter. Thrivent Financial for Lutherans increased its position in shares of Casey's General Stores by 15.4% during the 4th quarter. Thrivent Financial for Lutherans now owns 290,420 shares of the company's stock worth $115,089,000 after purchasing an additional 38,684 shares during the last quarter. Finally, CenterBook Partners LP acquired a new stake in shares of Casey's General Stores during the 4th quarter worth about $1,079,000. Hedge funds and other institutional investors own 85.63% of the company's stock.
Casey's General Stores Stock Down 1.3%
Shares of CASY traded down $7.01 during midday trading on Friday, hitting $516.59. The company had a trading volume of 274,749 shares, compared to its average volume of 305,787. The company's 50-day simple moving average is $477.29 and its 200-day simple moving average is $439.87. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.48 and a current ratio of 0.92. The firm has a market capitalization of $19.21 billion, a P/E ratio of 35.29 and a beta of 0.69. Casey's General Stores, Inc. has a 1 year low of $350.52 and a 1 year high of $526.82.
Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its earnings results on Monday, June 9th. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate 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 firm's revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.34 earnings per share. As a group, sell-side analysts expect that Casey's General Stores, Inc. will post 13.94 EPS for the current year.
Casey's General Stores Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be paid a $0.57 dividend. The ex-dividend date is Friday, August 1st. 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. Casey's General Stores's payout ratio is currently 13.66%.
Insider Buying and Selling
In other news, Director Mike Spanos acquired 200 shares of Casey's General Stores stock in a transaction on Monday, June 30th. The stock was bought at an average price of $503.18 per share, for a total transaction of $100,636.00. Following the completion of the purchase, 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 acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Katrina S. Lindsey sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $506.07, for a total value of $1,012,140.00. Following the completion of the sale, the insider owned 4,636 shares of the company's stock, valued at approximately $2,346,140.52. This represents a 30.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,646 shares of company stock valued at $22,136,614 in the last 90 days. Company insiders own 0.56% of the company's stock.
Analyst Ratings Changes
A number of brokerages recently issued reports on CASY. Royal Bank Of Canada raised their price objective on Casey's General Stores from $468.00 to $542.00 and gave the stock a "sector perform" rating in a research report on Wednesday. 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 report on Tuesday, April 1st. Wells Fargo & Company lifted their target price on Casey's General Stores from $460.00 to $540.00 and gave the company an "overweight" rating in a research report on Wednesday, June 11th. The Goldman Sachs Group lifted their target price on Casey's General Stores from $385.00 to $450.00 and gave the company a "neutral" rating in a research report on Wednesday, June 11th. Finally, Wall Street Zen raised Casey's General Stores from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. 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 stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $465.25.
Check Out Our Latest Research Report on CASY
Casey's General Stores Profile
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Free Report)
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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