Prairie Wealth Advisors Inc. Trims Stake in Casey's General Stores, Inc. (NASDAQ:CASY)

Prairie Wealth Advisors Inc. reduced its position in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 12.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,983 shares of the company's stock after selling 552 shares during the quarter. Casey's General Stores accounts for approximately 0.9% of Prairie Wealth Advisors Inc.'s holdings, making the stock its 19th biggest holding. Prairie Wealth Advisors Inc.'s holdings in Casey's General Stores were worth $1,729,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CASY. Allworth Financial LP increased its position in shares of Casey's General Stores by 14.6% during the fourth quarter. Allworth Financial LP now owns 590 shares of the company's stock worth $237,000 after acquiring an additional 75 shares during the period. CIBC Asset Management Inc increased its position in shares of Casey's General Stores by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 1,135 shares of the company's stock worth $450,000 after acquiring an additional 57 shares during the period. Truist Financial Corp increased its position in shares of Casey's General Stores by 3.9% during the fourth quarter. Truist Financial Corp now owns 8,657 shares of the company's stock worth $3,430,000 after acquiring an additional 327 shares during the period. Private Advisor Group LLC increased its position in shares of Casey's General Stores by 1.6% during the fourth quarter. Private Advisor Group LLC now owns 3,703 shares of the company's stock worth $1,467,000 after acquiring an additional 58 shares during the period. Finally, World Equity Group Inc. increased its position in shares of Casey's General Stores by 6.9% during the fourth quarter. World Equity Group Inc. now owns 726 shares of the company's stock worth $288,000 after acquiring an additional 47 shares during the period. 85.63% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Allison M. Wing sold 1,000 shares of the firm's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $502.16, for a total transaction of $502,160.00. Following the sale, the director now directly owns 3,058 shares in the company, valued at $1,535,605.28. This trade represents a 24.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Katrina S. Lindsey sold 250 shares of the firm's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $437.01, for a total value of $109,252.50. Following the sale, the insider now owns 2,443 shares in the company, valued at $1,067,615.43. This trade represents a 9.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,136 shares of company stock valued at $21,860,121 over the last 90 days. Insiders own 0.56% of the company's stock.

Casey's General Stores Trading Down 1.2%

NASDAQ:CASY opened at $500.27 on Monday. Casey's General Stores, Inc. has a 12 month low of $350.52 and a 12 month high of $512.88. The firm has a fifty day simple moving average of $460.38 and a 200-day simple moving average of $429.45. 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 company has a market capitalization of $18.57 billion, a P/E ratio of 34.17, a PEG ratio of 2.50 and a beta of 0.66.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its quarterly earnings data on Monday, June 9th. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $1.94 by $0.69. Casey's General Stores had a net margin of 3.43% and a return on equity of 16.28%. The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.95 billion. During the same period in the previous year, the firm posted $2.34 earnings per share. The business's revenue for the quarter was up 10.9% compared to the same quarter last year. On average, equities research 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 announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Friday, August 1st. This is a boost from Casey's General Stores's previous quarterly dividend of $0.50. Casey's General Stores's dividend payout ratio (DPR) is 13.66%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Evercore ISI raised their target price on shares of Casey's General Stores from $450.00 to $460.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 1st. Royal Bank Of Canada set a $438.00 target price on shares of Casey's General Stores and gave the stock a "sector perform" rating in a research report on Wednesday, March 12th. KeyCorp raised their target price on shares of Casey's General Stores from $500.00 to $550.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 11th. The Goldman Sachs Group increased their price objective 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. Finally, Wall Street Zen upgraded shares of Casey's General Stores from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $453.00.

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.

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