Principal Financial Group Inc. Grows Stock Position in Casey's General Stores, Inc. (NASDAQ:CASY)

Principal Financial Group Inc. lifted its holdings in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 11.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 269,426 shares of the company's stock after purchasing an additional 26,822 shares during the period. Principal Financial Group Inc. owned 0.73% of Casey's General Stores worth $116,942,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CASY. Raymond James Financial Inc. bought a new stake in shares of Casey's General Stores during the 4th quarter valued at about $236,500,000. GAMMA Investing LLC boosted its position in shares of Casey's General Stores by 54,448.8% during the 1st quarter. GAMMA Investing LLC now owns 543,852 shares of the company's stock valued at $236,054,000 after purchasing an additional 542,855 shares in the last quarter. Norges Bank bought a new stake in shares of Casey's General Stores during the 4th quarter valued at about $175,607,000. Wellington Management Group LLP boosted its position in shares of Casey's General Stores by 160.1% during the 4th quarter. Wellington Management Group LLP now owns 428,201 shares of the company's stock valued at $169,666,000 after purchasing an additional 263,545 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Casey's General Stores by 29.5% during the 4th quarter. Franklin Resources Inc. now owns 678,778 shares of the company's stock valued at $268,952,000 after purchasing an additional 154,541 shares in the last quarter. Institutional investors own 85.63% of the company's stock.

Casey's General Stores Stock Up 1.2%

Shares of Casey's General Stores stock traded up $5.93 on Friday, hitting $516.85. The company had a trading volume of 173,672 shares, compared to its average volume of 303,081. The stock has a market capitalization of $19.22 billion, a price-to-earnings ratio of 35.30 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 $517.31. The stock has a 50 day moving average of $471.16 and a 200-day moving average of $435.78. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.48 and a current ratio of 0.92.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued 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. The firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.95 billion. Casey's General Stores had a return on equity of 16.28% and a net margin of 3.43%. The company's quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.34 earnings per share. As a group, sell-side 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. Investors of record on Friday, August 1st will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.44%. This is an increase from Casey's General Stores's previous quarterly dividend of $0.50. The ex-dividend date is Friday, August 1st. Casey's General Stores's dividend payout ratio (DPR) is presently 13.66%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wall Street Zen raised Casey's General Stores from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. BMO Capital Markets upped their price target on Casey's General Stores from $450.00 to $515.00 and gave the stock a "market perform" rating in a research note on Wednesday, June 11th. Royal Bank Of Canada set a $438.00 price target on Casey's General Stores and gave the stock a "sector perform" rating in a research note on Wednesday, March 12th. KeyCorp upped their price target on Casey's General Stores from $500.00 to $550.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 11th. Finally, Stephens reaffirmed an "overweight" rating and set a $490.00 price target on shares of Casey's General Stores in a research note on Tuesday, June 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $453.00.

Insider Activity at Casey's General Stores

In other Casey's General Stores news, Director Mike Spanos purchased 200 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The stock was bought at an average cost of $503.18 per share, with a total value of $100,636.00. Following the completion of the transaction, the director owned 3,560 shares of the company's stock, valued at $1,791,320.80. The trade was a 5.95% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Darren M. Rebelez sold 20,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer directly owned 89,840 shares of the company's stock, 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 a total of 43,646 shares of company stock valued at $22,136,614 in the last ninety days. 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.