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

Midwest Heritage Bank FSB bought a new position in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 531 shares of the company's stock, valued at approximately $230,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Natixis grew its stake in Casey's General Stores by 21.9% in the fourth quarter. Natixis now owns 8,337 shares of the company's stock worth $3,303,000 after purchasing an additional 1,499 shares in the last quarter. Scholtz & Company LLC acquired a new position in shares of Casey's General Stores in the 4th quarter worth approximately $2,375,000. Segall Bryant & Hamill LLC increased its holdings in shares of Casey's General Stores by 9.1% in the 4th quarter. Segall Bryant & Hamill LLC now owns 53,330 shares of the company's stock valued at $21,131,000 after acquiring an additional 4,458 shares during the last quarter. CenterBook Partners LP acquired a new stake in shares of Casey's General Stores during the 4th quarter valued at approximately $1,079,000. Finally, Integrated Wealth Concepts LLC lifted its stake 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 during the last quarter. 85.63% of the stock is owned by hedge funds and other institutional investors.

Casey's General Stores Stock Performance

CASY stock traded up $8.01 during trading on Monday, reaching $518.26. 278,343 shares of the company's stock were exchanged, compared to its average volume of 306,380. Casey's General Stores, Inc. has a 1-year low of $350.52 and a 1-year high of $526.82. The firm has a market cap of $19.27 billion, a PE ratio of 35.40 and a beta of 0.69. The company's fifty day moving average price is $483.00 and its 200-day moving average price is $444.03. The company has a quick ratio of 0.48, a current ratio of 0.92 and a debt-to-equity ratio of 0.69.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its quarterly earnings results on Monday, June 9th. The company reported $2.63 earnings per share (EPS) 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 firm had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.95 billion. During the same period last year, the company posted $2.34 EPS. The firm's quarterly revenue was up 10.9% on a year-over-year basis. On average, research analysts expect that Casey's General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey's General Stores Increases Dividend

The business 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. The ex-dividend date of this dividend is Friday, August 1st. This is a positive change from Casey's General Stores's previous quarterly dividend of $0.50. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.44%. Casey's General Stores's payout ratio is 13.66%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CASY. The Goldman Sachs Group boosted their target price 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, June 11th. Evercore ISI boosted their price objective on shares of Casey's General Stores from $450.00 to $460.00 and gave the company an "outperform" rating in a research report on Tuesday, April 1st. BMO Capital Markets raised 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. 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. Finally, Royal Bank Of Canada raised their price target on Casey's General Stores from $468.00 to $542.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $465.25.

Insider Activity at Casey's General Stores

In other news, insider Chad Michael Frazell sold 4,808 shares of Casey's General Stores stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $503.97, for a total transaction of $2,423,087.76. Following the transaction, the insider owned 11,480 shares in the company, valued at approximately $5,785,575.60. The trade was a 29.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Darren M. Rebelez sold 20,000 shares of the company's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $507.83, for a total value of $10,156,600.00. Following the transaction, the chief executive officer directly owned 89,840 shares in the company, valued at $45,623,447.20. The trade was a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,646 shares of company stock valued at $22,136,614 over the last ninety days. Company insiders own 0.56% of the company's stock.

Casey's General Stores 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.