Casey's General Stores, Inc. (NASDAQ:CASY) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC trimmed its position in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 33.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,570 shares of the company's stock after selling 5,390 shares during the quarter. Nisa Investment Advisors LLC's holdings in Casey's General Stores were worth $4,588,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Casey's General Stores by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 3,799,104 shares of the company's stock worth $1,505,319,000 after acquiring an additional 44,295 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in Casey's General Stores by 1.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,776,323 shares of the company's stock worth $703,833,000 after acquiring an additional 31,131 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Casey's General Stores by 29.5% during the fourth quarter. Franklin Resources Inc. now owns 678,778 shares of the company's stock valued at $268,952,000 after buying an additional 154,541 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Casey's General Stores by 54,448.8% during the first quarter. GAMMA Investing LLC now owns 543,852 shares of the company's stock valued at $236,054,000 after buying an additional 542,855 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Casey's General Stores by 51.5% during the first quarter. Bank of New York Mellon Corp now owns 515,603 shares of the company's stock valued at $223,792,000 after buying an additional 175,372 shares during the last quarter. 85.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on CASY. Royal Bank Of Canada upped 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 note on Wednesday. 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 research note on Tuesday, April 1st. The Goldman Sachs Group upped their target price on 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. Wells Fargo & Company upped their target price on Casey's General Stores from $460.00 to $540.00 and gave the company an "overweight" rating in a research note on Wednesday, June 11th. Finally, Wall Street Zen raised Casey's General Stores from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, Casey's General Stores presently has an average rating of "Moderate Buy" and a consensus target price of $465.25.

Casey's General Stores Stock Down 1.3%

Casey's General Stores stock traded down $7.01 during mid-day trading on Friday, reaching $516.59. 274,749 shares of the company were exchanged, compared to its average volume of 305,367. The business has a fifty day moving average of $477.29 and a 200 day moving average of $439.38. 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 firm has a market cap of $19.21 billion, a P/E ratio of 35.29 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 $526.82.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its 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. The company had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.95 billion. Casey's General Stores had a return on equity of 16.28% and a net margin of 3.43%. Casey's General Stores's revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.34 earnings per share. Research analysts anticipate 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 business also recently announced 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. 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 0.44%. This is a positive change from Casey's General Stores's previous quarterly dividend of $0.50. Casey's General Stores's dividend payout ratio is currently 13.66%.

Insider Activity at Casey's General Stores

In other Casey's General Stores news, insider Chad Michael Frazell sold 4,808 shares of the company's 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 completion of the sale, the insider owned 11,480 shares in the company, valued at $5,785,575.60. This represents a 29.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 stock was 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 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. Insiders have sold 43,646 shares of company stock valued at $22,136,614 over the last 90 days. Insiders own 0.56% of the company's stock.

About Casey's General Stores

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.