Greenwood Capital Associates LLC Invests $834,000 in Casey's General Stores, Inc. (NASDAQ:CASY)

Greenwood Capital Associates LLC acquired a new stake in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,921 shares of the company's stock, valued at approximately $834,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC purchased a new stake in shares of Casey's General Stores during the 4th quarter worth approximately $201,000. Van ECK Associates Corp increased its stake in shares of Casey's General Stores by 39.2% during the 4th quarter. Van ECK Associates Corp now owns 29,554 shares of the company's stock worth $11,710,000 after purchasing an additional 8,327 shares during the last quarter. Consolidated Planning Corp increased its stake in shares of Casey's General Stores by 76.4% during the 4th quarter. Consolidated Planning Corp now owns 1,041 shares of the company's stock worth $412,000 after purchasing an additional 451 shares during the last quarter. Avestar Capital LLC purchased a new stake in shares of Casey's General Stores during the 4th quarter worth approximately $203,000. Finally, V Square Quantitative Management LLC increased its stake in shares of Casey's General Stores by 32.9% during the 4th quarter. V Square Quantitative Management LLC now owns 210 shares of the company's stock worth $83,000 after purchasing an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 85.63% of the company's stock.

Insider Buying and Selling at Casey's General Stores

In other news, Director Allison M. Wing sold 1,000 shares of Casey's General Stores stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $502.16, for a total transaction of $502,160.00. Following the completion of the sale, the director now directly owns 3,058 shares of the company's stock, valued at approximately $1,535,605.28. The trade was a 24.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Katrina S. Lindsey sold 250 shares of Casey's General Stores stock in a transaction on Friday, April 4th. The stock was sold at an average price of $437.01, for a total transaction of $109,252.50. Following the sale, the insider now directly owns 2,443 shares of the company's stock, valued at $1,067,615.43. This represents a 9.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.56% of the company's stock.

Casey's General Stores Price Performance

NASDAQ:CASY traded down $0.83 during trading hours on Friday, hitting $506.16. The stock had a trading volume of 457,861 shares, compared to its average volume of 301,946. The company has a 50 day simple moving average of $453.67 and a two-hundred day simple moving average of $426.36. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.88 and a quick ratio of 0.49. Casey's General Stores, Inc. has a one year low of $350.52 and a one year high of $512.88. The firm has a market capitalization of $18.79 billion, a price-to-earnings ratio of 35.27, a P/E/G ratio of 2.40 and a beta of 0.65.

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, beating the consensus estimate of $1.94 by $0.69. Casey's General Stores had a net margin of 3.57% and a return on equity of 17.17%. The firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.95 billion. During the same period last year, the firm earned $2.34 EPS. The business's quarterly revenue was up 10.9% compared to the same quarter last year. Research analysts forecast that Casey's General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey's General Stores Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 0.45%. This is an increase 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 presently 15.57%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Casey's General Stores from a "hold" rating to a "buy" rating in a research note on Saturday. Royal Bank of Canada set a $438.00 price objective on shares of Casey's General Stores and gave the company a "sector perform" rating in a research note on Wednesday, March 12th. Stephens reiterated an "overweight" rating and issued a $490.00 price objective on shares of Casey's General Stores in a research note on Tuesday. KeyCorp lifted their price objective on shares of Casey's General Stores from $500.00 to $550.00 and gave the company an "overweight" rating in a research note on Wednesday. Finally, The Goldman Sachs Group lifted their price objective on shares of Casey's General Stores from $385.00 to $450.00 and gave the company a "neutral" rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $453.00.

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.