US Bancorp DE Reduces Stock Position in Casey's General Stores, Inc. (NASDAQ:CASY)

US Bancorp DE decreased its stake in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 15.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,260 shares of the company's stock after selling 1,120 shares during the quarter. US Bancorp DE's holdings in Casey's General Stores were worth $2,717,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc purchased a new stake in Casey's General Stores during the first quarter valued at $25,000. Global Financial Private Client LLC increased its holdings in shares of Casey's General Stores by 325.0% in the 1st quarter. Global Financial Private Client LLC now owns 68 shares of the company's stock worth $30,000 after buying an additional 52 shares during the last quarter. Iron Horse Wealth Management LLC raised its position in shares of Casey's General Stores by 40.0% during the 1st quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company's stock valued at $40,000 after buying an additional 26 shares in the last quarter. Whipplewood Advisors LLC raised its position in shares of Casey's General Stores by 160.0% during the 1st quarter. Whipplewood Advisors LLC now owns 117 shares of the company's stock valued at $51,000 after buying an additional 72 shares in the last quarter. Finally, Wayfinding Financial LLC bought a new position in shares of Casey's General Stores in the 1st quarter valued at about $59,000. 85.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Royal Bank Of Canada upped their price objective on Casey's General Stores from $468.00 to $542.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 9th. Wells Fargo & Company raised their price target on Casey's General Stores from $460.00 to $540.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 11th. Stephens reaffirmed an "overweight" rating and set a $490.00 price objective on shares of Casey's General Stores in a research note on Tuesday, June 10th. The Goldman Sachs Group boosted 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 report on Wednesday, June 11th. Finally, BMO Capital Markets raised their target price on shares of Casey's General Stores from $450.00 to $515.00 and gave the stock a "market perform" rating in a report on Wednesday, June 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Casey's General Stores has an average rating of "Moderate Buy" and a consensus target price of $467.33.

Casey's General Stores Trading Up 0.1%

Shares of NASDAQ CASY traded up $0.69 during mid-day trading on Friday, reaching $518.97. The company had a trading volume of 209,420 shares, compared to its average volume of 357,968. The stock has a market cap of $19.30 billion, a price-to-earnings ratio of 35.45 and a beta of 0.69. Casey's General Stores, Inc. has a 52 week low of $350.52 and a 52 week high of $531.24. The business's 50-day moving average is $504.53 and its 200-day moving average is $455.89. The company has a current ratio of 0.92, a quick ratio of 0.48 and a debt-to-equity ratio of 0.69.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its quarterly earnings data on Monday, June 9th. The company reported $2.63 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.99 billion during the quarter, compared to analysts' expectations of $3.95 billion. During the same period in the previous year, the company earned $2.34 EPS. The firm's quarterly revenue was up 10.9% on a year-over-year basis. Equities analysts expect that Casey's General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey's General Stores Increases Dividend

The company 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 $0.57 dividend. This is a boost from Casey's General Stores's previous quarterly dividend of $0.50. This represents a $2.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Friday, August 1st. Casey's General Stores's dividend payout ratio is presently 15.57%.

Insiders Place Their Bets

In other news, insider Chad Michael Frazell sold 4,808 shares of the 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 approximately $5,785,575.60. This represents a 29.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Stephen P. Bramlage, Jr. sold 8,478 shares of the firm's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $509.21, for a total value of $4,317,082.38. Following the completion of the sale, the chief financial officer directly owned 26,754 shares of the company's stock, valued at approximately $13,623,404.34. This represents a 24.06% decrease in their position. 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. 0.54% of the stock is currently owned by insiders.

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.