Sovran Advisors LLC Makes New Investment in Casey's General Stores, Inc. (NASDAQ:CASY)

Sovran Advisors LLC bought a new stake in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 816 shares of the company's stock, valued at approximately $375,000.

Several other large investors have also recently added to or reduced their stakes in CASY. Versant Capital Management Inc bought a new stake in shares of Casey's General Stores in the first quarter worth $25,000. Global Financial Private Client LLC grew its holdings in Casey's General Stores by 325.0% during the 1st quarter. Global Financial Private Client LLC now owns 68 shares of the company's stock worth $30,000 after acquiring an additional 52 shares in the last quarter. Whipplewood Advisors LLC increased its position in shares of Casey's General Stores by 160.0% in the 1st quarter. Whipplewood Advisors LLC now owns 117 shares of the company's stock worth $51,000 after purchasing an additional 72 shares during the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of Casey's General Stores in the 4th quarter valued at about $79,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of Casey's General Stores during the fourth quarter worth about $87,000. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Casey's General Stores news, insider Thomas P. Brennan, Jr. sold 6,600 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $506.03, for a total value of $3,339,798.00. Following the transaction, the insider owned 2,100 shares in the company, valued at $1,062,663. The trade was a 75.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Darren M. Rebelez sold 20,000 shares of Casey's General Stores stock in a transaction dated 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 owned 89,840 shares of the company's stock, valued at approximately $45,623,447.20. This represents 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 three months. 0.56% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Royal Bank Of Canada set a $438.00 price target on Casey's General Stores and gave the company a "sector perform" rating in a report on Wednesday, March 12th. KeyCorp lifted their price target on shares of Casey's General Stores from $500.00 to $550.00 and gave the company an "overweight" rating in a report on Wednesday, June 11th. 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. Stephens reissued an "overweight" rating and issued a $490.00 price target on shares of Casey's General Stores in a report on Tuesday, June 10th. Finally, The Goldman Sachs Group raised 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $453.00.

Casey's General Stores Price Performance

Shares of NASDAQ CASY traded up $5.93 during trading on Friday, hitting $516.85. The company had a trading volume of 173,672 shares, compared to its average volume of 302,913. Casey's General Stores, Inc. has a 52 week low of $350.52 and a 52 week high of $517.31. The business's 50-day moving average is $471.16 and its 200 day moving average is $435.39. The company has a market cap of $19.22 billion, a P/E ratio of 35.30, a PEG ratio of 2.59 and a beta of 0.69. 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 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 firm had revenue of $3.99 billion for the quarter, compared to analysts' expectations 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 last year, the business posted $2.34 EPS. Equities research analysts predict 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 declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.44%. This is a positive change from Casey's General Stores's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, August 1st. Casey's General Stores's dividend payout ratio is 13.66%.

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.