Morningstar Investment Services LLC Invests $404,000 in Casey's General Stores, Inc. (NASDAQ:CASY)

Morningstar Investment Services LLC purchased a new position in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 931 shares of the company's stock, valued at approximately $404,000.

Several other large investors have also recently added to or reduced their stakes in the business. Versant Capital Management Inc acquired a new stake in Casey's General Stores during the first quarter valued at $25,000. Global Financial Private Client LLC raised its stake in shares of Casey's General Stores by 325.0% in the first quarter. Global Financial Private Client LLC now owns 68 shares of the company's stock worth $30,000 after acquiring an additional 52 shares during the last quarter. Iron Horse Wealth Management LLC raised its stake in shares of Casey's General Stores by 40.0% in the first quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company's stock worth $40,000 after acquiring an additional 26 shares during the last quarter. Whipplewood Advisors LLC raised its stake in shares of Casey's General Stores by 160.0% in the first quarter. Whipplewood Advisors LLC now owns 117 shares of the company's stock worth $51,000 after acquiring an additional 72 shares during the last quarter. Finally, Wayfinding Financial LLC bought a new position in Casey's General Stores in the 1st quarter valued at $59,000. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Stephens reiterated an "overweight" rating and set a $490.00 target price on shares of Casey's General Stores in a report on Tuesday, June 10th. Wall Street Zen upgraded Casey's General Stores from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. BMO Capital Markets raised their price objective on Casey's General Stores from $450.00 to $515.00 and gave the company a "market perform" rating in a report on Wednesday, June 11th. Wells Fargo & Company upped their price target 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. Finally, Evercore ISI upped their price target on Casey's General Stores from $450.00 to $460.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 1st. One research 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 currently has an average rating of "Moderate Buy" and an average price target of $465.25.

Insider Activity at Casey's General Stores

In other news, insider Katrina S. Lindsey sold 2,000 shares of the company's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $506.07, for a total transaction of $1,012,140.00. Following the completion of the sale, the insider directly owned 4,636 shares in the company, valued at $2,346,140.52. This represents a 30.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Darren M. Rebelez sold 20,000 shares of the company's 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 completion of the transaction, the chief executive officer directly owned 89,840 shares of the company's stock, valued at approximately $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. In the last 90 days, 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 Up 1.6%

Shares of CASY traded up $8.01 during midday trading on Monday, hitting $518.26. 278,343 shares of the company's stock traded hands, compared to its average volume of 306,380. 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 firm's fifty day moving average is $483.00 and its 200-day moving average is $444.03. The stock has a market capitalization of $19.27 billion, a price-to-earnings ratio of 35.40 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 $544.25.

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 for the quarter, topping 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 company had revenue of $3.99 billion during the quarter, compared to analysts' expectations of $3.95 billion. During the same quarter in the prior year, the firm posted $2.34 EPS. Casey's General Stores's quarterly revenue was up 10.9% compared to the same quarter last year. As a group, sell-side analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date is Friday, August 1st. This is a positive change from Casey's General Stores's previous quarterly dividend of $0.50. Casey's General Stores's payout ratio is currently 13.66%.

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.