528 Shares in Casey's General Stores, Inc. (NASDAQ:CASY) Purchased by Meeder Advisory Services Inc.

Key Points

• Meeder Advisory Services Inc. has acquired a new stake in Casey's General Stores, purchasing 528 shares valued at approximately $229,000 during the first quarter.
• Analyst ratings for Casey's General Stores have improved, with Wells Fargo raising the price target to $540.00 and a majority of analysts rating the stock as a "Moderate Buy."
• Casey's General Stores will pay a quarterly dividend of $0.57 per share, up from the previous $0.50, with an ex-dividend date set for August 1st.

Meeder Advisory Services Inc. purchased a new position in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 528 shares of the company's stock, valued at approximately $229,000.

Other institutional investors also recently modified their holdings of the company. Natixis lifted its position in Casey's General Stores by 21.9% in the 4th quarter. Natixis now owns 8,337 shares of the company's stock valued at $3,303,000 after acquiring an additional 1,499 shares in the last quarter. CenterBook Partners LP bought a new position in Casey's General Stores in the 4th quarter valued at about $1,079,000. Integrated Wealth Concepts LLC lifted its position in Casey's General Stores by 50.2% in the 4th quarter. Integrated Wealth Concepts LLC now owns 2,592 shares of the company's stock valued at $1,027,000 after acquiring an additional 866 shares in the last quarter. Security National Bank increased its stake in Casey's General Stores by 9.7% in the 1st quarter. Security National Bank now owns 5,674 shares of the company's stock valued at $2,463,000 after buying an additional 504 shares during the last quarter. Finally, Cornerstone Wealth Management LLC purchased a new stake in Casey's General Stores in the 1st quarter valued at about $201,000. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Stephen P. Bramlage, Jr. sold 760 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $507.56, for a total value of $385,745.60. Following the completion of the sale, the chief financial officer directly owned 25,994 shares in the company, valued at $13,193,514.64. The trade was a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mike Spanos purchased 200 shares of the business's stock in a transaction that occurred on Monday, June 30th. The stock was bought at an average cost of $503.18 per share, with a total value of $100,636.00. Following the acquisition, the director owned 3,560 shares in the company, valued at $1,791,320.80. This represents a 5.95% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders sold 43,646 shares of company stock worth $22,136,614. 0.54% of the stock is currently owned by corporate insiders.

Casey's General Stores Stock Up 0.1%

NASDAQ:CASY traded up $0.47 during midday trading on Monday, reaching $523.25. 309,783 shares of the stock traded hands, compared to its average volume of 284,983. 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 stock has a market capitalization of $19.45 billion, a PE ratio of 35.74 and a beta 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 business has a 50-day moving average of $498.60 and a two-hundred day moving average of $453.21.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its quarterly earnings data on Monday, June 9th. The company reported $2.63 earnings per share (EPS) 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 company's revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period last year, the business posted $2.34 earnings per share. On average, equities 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 firm also recently announced 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. The ex-dividend date is Friday, August 1st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.4%. Casey's General Stores's payout ratio is 15.57%.

Analyst Upgrades and Downgrades

CASY has been the subject of several analyst reports. Royal Bank Of Canada increased their price objective on shares of Casey's General Stores from $468.00 to $542.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 9th. Wells Fargo & Company raised their price target on shares of Casey's General Stores from $460.00 to $540.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 11th. BMO Capital Markets raised their price target on shares of Casey's General Stores from $450.00 to $515.00 and gave the stock a "market perform" rating in a research note on Wednesday, June 11th. Stephens restated 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. Finally, KeyCorp raised their price target on shares of Casey's General Stores from $550.00 to $575.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $467.33.

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.