Casey's General Stores, Inc. (NASDAQ:CASY) Shares Bought by LPL Financial LLC

Key Points

• LPL Financial LLC increased its stake in Casey's General Stores by 9.5% after purchasing 7,540 shares, bringing its total holdings to 87,023 shares valued at approximately $37.6 million.
• A variety of institutional investors have ramped up their holdings in Casey's General Stores, with notable increases from T. Rowe Price and GAMMA Investing LLC, cumulatively amassing substantial ownership percentages.
• Casey’s General Stores recently reported a quarterly earnings per share (EPS) of $2.63, exceeding analyst expectations of $1.94, along with a revenue of $3.99 billion.

LPL Financial LLC raised its holdings in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 9.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 87,023 shares of the company's stock after buying an additional 7,540 shares during the quarter. LPL Financial LLC owned about 0.23% of Casey's General Stores worth $37,649,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Natixis increased its holdings in shares of Casey's General Stores by 21.9% in the fourth quarter. Natixis now owns 8,337 shares of the company's stock valued at $3,303,000 after purchasing an additional 1,499 shares during the period. CenterBook Partners LP purchased a new position in Casey's General Stores during the fourth quarter worth approximately $1,079,000. Integrated Wealth Concepts LLC boosted its position in 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 worth $1,027,000 after purchasing an additional 866 shares in the last quarter. Security National Bank lifted its position in shares of Casey's General Stores by 9.7% in the first quarter. Security National Bank now owns 5,674 shares of the company's stock valued at $2,463,000 after acquiring an additional 504 shares in the last quarter. Finally, Cornerstone Wealth Management LLC purchased a new position in shares of Casey's General Stores in the first quarter valued at approximately $201,000. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Casey's General Stores Trading Up 1.2%

CASY stock traded up $6.34 during midday trading on Wednesday, hitting $521.09. 102,416 shares of the company's stock were exchanged, compared to its average volume of 358,897. The business has a 50-day simple moving average of $501.50 and a two-hundred day simple moving average of $454.55. The company has a current ratio of 0.92, a quick ratio of 0.48 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $19.37 billion, a PE ratio of 35.62 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 $531.24.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its quarterly earnings data 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. Casey's General Stores had a return on equity of 16.28% and a net margin of 3.43%. The business had revenue of $3.99 billion during the quarter, compared to analysts' expectations of $3.95 billion. During the same period in the previous year, the firm posted $2.34 earnings per share. The company's revenue was up 10.9% on a year-over-year basis. On average, sell-side analysts predict that Casey's General Stores, Inc. will post 13.94 EPS for the current fiscal 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 issued a dividend of $0.57 per share. This is a positive change from Casey's General Stores's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, August 1st. This represents a $2.28 dividend on an annualized basis and a yield of 0.4%. Casey's General Stores's dividend payout ratio (DPR) is presently 15.57%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group raised 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. BMO Capital Markets raised their target price on Casey's General Stores from $450.00 to $515.00 and gave the company a "market perform" rating in a research report on Wednesday, June 11th. Wells Fargo & Company raised 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. Stephens restated an "overweight" rating and issued a $490.00 target price on shares of Casey's General Stores in a research report on Tuesday, June 10th. Finally, Royal Bank Of Canada raised their target price on Casey's General Stores from $468.00 to $542.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $467.33.

Insider Activity at Casey's General Stores

In other news, insider Chad Michael Frazell sold 4,808 shares of the business's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $503.97, for a total value of $2,423,087.76. Following the completion of the sale, the insider directly owned 11,480 shares of the company's stock, valued at approximately $5,785,575.60. The trade was a 29.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mike Spanos bought 200 shares of Casey's General Stores stock in a transaction dated Monday, June 30th. The stock was purchased at an average cost of $503.18 per share, with a total value of $100,636.00. Following the completion of the acquisition, the director directly owned 3,560 shares in the company, valued at approximately $1,791,320.80. The trade was a 5.95% increase in their position. The disclosure for this purchase can be found here. Insiders sold 43,646 shares of company stock worth $22,136,614 over the last three months. Company insiders own 0.54% of the company's stock.

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.