Midwest Heritage Bank FSB Takes $230,000 Position in Casey's General Stores, Inc. (NASDAQ:CASY)

Midwest Heritage Bank FSB purchased a new position in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 531 shares of the company's stock, valued at approximately $230,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Kingsview Wealth Management LLC raised its holdings in Casey's General Stores by 17.7% during the first quarter. Kingsview Wealth Management LLC now owns 598 shares of the company's stock worth $260,000 after purchasing an additional 90 shares in the last quarter. Bailard Inc. increased its position in shares of Casey's General Stores by 7.2% during the 1st quarter. Bailard Inc. now owns 3,109 shares of the company's stock valued at $1,349,000 after purchasing an additional 209 shares during the period. Tributary Capital Management LLC raised its stake in shares of Casey's General Stores by 4.3% in the 1st quarter. Tributary Capital Management LLC now owns 3,536 shares of the company's stock worth $1,535,000 after buying an additional 145 shares in the last quarter. Legacy Capital Wealth Partners LLC acquired a new stake in shares of Casey's General Stores in the first quarter valued at $238,000. Finally, James Investment Research Inc. boosted its stake in Casey's General Stores by 4.5% during the first quarter. James Investment Research Inc. now owns 8,946 shares of the company's stock valued at $3,883,000 after buying an additional 385 shares in the last quarter. Institutional investors own 85.63% of the company's stock.

Insider Buying and Selling

In other news, CFO Stephen P. Bramlage, Jr. sold 8,478 shares of the company's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $509.21, for a total transaction of $4,317,082.38. Following the completion of the transaction, the chief financial officer owned 26,754 shares of the company's stock, valued at approximately $13,623,404.34. This represents a 24.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Katrina S. Lindsey sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The stock was 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 $2,346,140.52. This represents a 30.14% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,646 shares of company stock worth $22,136,614. 0.56% of the stock is currently owned by company insiders.

Casey's General Stores Stock Down 1.1%

Casey's General Stores stock traded down $5.42 during trading hours on Friday, hitting $510.25. The company had a trading volume of 214,496 shares, compared to its average volume of 306,493. The firm's fifty day moving average is $483.00 and its 200-day moving average is $443.69. The firm has a market capitalization of $18.97 billion, a P/E ratio of 34.85 and a beta of 0.69. Casey's General Stores, Inc. has a fifty-two week low of $350.52 and a fifty-two week high of $526.82. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.92 and a quick ratio of 0.48.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its quarterly earnings results 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. Casey's General Stores had a return on equity of 16.28% and a net margin of 3.43%. The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.95 billion. During the same quarter in the prior year, the company posted $2.34 EPS. The firm's revenue was up 10.9% on a year-over-year basis. On average, research analysts forecast that Casey's General Stores, Inc. will post 13.94 earnings per share 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. Shareholders of record on Friday, August 1st will be given a $0.57 dividend. This is an increase from Casey's General Stores's previous quarterly dividend of $0.50. This represents a $2.28 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Friday, August 1st. Casey's General Stores's payout ratio is currently 15.57%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CASY. The Goldman Sachs Group lifted their price target on shares of Casey's General Stores from $385.00 to $450.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 11th. Wells Fargo & Company boosted their target price on Casey's General Stores from $460.00 to $540.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 11th. Evercore ISI upped their target price on Casey's General Stores from $450.00 to $460.00 and gave the company an "outperform" rating in a report on Tuesday, April 1st. Royal Bank Of Canada increased their price target 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. Finally, BMO Capital Markets boosted their price objective on 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $465.25.

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.