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Invesco Ltd. Cuts Stock Position in Casey's General Stores, Inc. (NASDAQ:CASY)

Casey's General Stores logo with Retail/Wholesale background

Invesco Ltd. lessened its stake in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 4.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 281,874 shares of the company's stock after selling 12,760 shares during the quarter. Invesco Ltd. owned approximately 0.76% of Casey's General Stores worth $122,345,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CASY. GAMMA Investing LLC increased its holdings in Casey's General Stores by 54,448.8% in the 1st quarter. GAMMA Investing LLC now owns 543,852 shares of the company's stock worth $236,054,000 after acquiring an additional 542,855 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Casey's General Stores by 42.0% in the 1st quarter. JPMorgan Chase & Co. now owns 1,036,426 shares of the company's stock worth $449,851,000 after acquiring an additional 306,628 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Casey's General Stores by 51.5% in the 1st quarter. Bank of New York Mellon Corp now owns 515,603 shares of the company's stock worth $223,792,000 after acquiring an additional 175,372 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Casey's General Stores by 699.6% during the first quarter. PNC Financial Services Group Inc. now owns 126,845 shares of the company's stock worth $55,056,000 after buying an additional 110,982 shares in the last quarter. Finally, Freestone Grove Partners LP purchased a new stake in shares of Casey's General Stores during the fourth quarter worth $24,985,000. Hedge funds and other institutional investors own 85.63% of the company's stock.

Analysts Set New Price Targets

CASY has been the subject of a number of research reports. BMO Capital Markets upped their target price on shares of Casey's General Stores from $450.00 to $515.00 and gave the stock a "market perform" rating in a report on Wednesday, June 11th. KeyCorp upped their target price on shares of Casey's General Stores from $550.00 to $575.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Stephens reaffirmed an "overweight" rating and set a $490.00 target price on shares of Casey's General Stores in a report on Tuesday, June 10th. Wells Fargo & Company upped their target price on shares of Casey's General Stores from $460.00 to $540.00 and gave the stock an "overweight" rating in a report on Wednesday, June 11th. Finally, The Goldman Sachs Group upped their target price on shares of Casey's General Stores from $385.00 to $450.00 and gave the stock a "neutral" rating in a report on Wednesday, June 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $467.33.

View Our Latest Stock Analysis on CASY

Insider Buying and Selling at Casey's General Stores

In other news, CEO Darren M. Rebelez sold 20,000 shares of the 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 owned 89,840 shares of the company's stock, valued at approximately $45,623,447.20. This represents a 18.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stephen P. Bramlage, Jr. sold 760 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $507.56, for a total transaction of $385,745.60. Following the sale, the chief financial officer directly owned 25,994 shares in the company, valued at $13,193,514.64. This represents a 2.84% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,646 shares of company stock valued at $22,136,614. Corporate insiders own 0.54% of the company's stock.

Casey's General Stores Trading Down 1.3%

Shares of CASY opened at $508.18 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.48 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. The firm has a 50-day moving average price of $511.81 and a 200 day moving average price of $459.58. The firm has a market capitalization of $18.89 billion, a P/E ratio of 34.71 and a beta of 0.69.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its earnings results on Monday, June 9th. The company reported $2.63 EPS for the quarter, beating analysts' consensus estimates of $1.94 by $0.69. Casey's General Stores had a net margin of 3.43% and a return on equity of 16.28%. The company had revenue of $3.99 billion for the quarter, compared to analysts' expectations of $3.95 billion. During the same quarter in the prior year, the company posted $2.34 earnings per share. Casey's General Stores's revenue for the quarter was up 10.9% compared to the same quarter last year. Sell-side analysts forecast 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. Stockholders of record on Friday, August 1st will be given a dividend of $0.57 per share. This is a boost from Casey's General Stores's previous quarterly dividend of $0.50. This represents a $2.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, August 1st. Casey's General Stores's dividend payout ratio is currently 15.57%.

About Casey's General Stores

(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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Institutional Ownership by Quarter for Casey's General Stores (NASDAQ:CASY)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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