Victory Capital Management Inc. Sells 9,833 Shares of Casey's General Stores, Inc. (NASDAQ:CASY)

Victory Capital Management Inc. cut its stake in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 7.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 130,816 shares of the company's stock after selling 9,833 shares during the period. Victory Capital Management Inc. owned approximately 0.35% of Casey's General Stores worth $56,779,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc purchased a new position in shares of Casey's General Stores during the 1st quarter worth approximately $25,000. Global Financial Private Client LLC raised its stake in shares of 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 buying an additional 52 shares in the last quarter. Iron Horse Wealth Management LLC raised its stake 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 worth $40,000 after buying an additional 26 shares in the last quarter. Whipplewood Advisors LLC raised its stake 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 worth $51,000 after buying an additional 72 shares in the last quarter. Finally, Wayfinding Financial LLC purchased a new position in shares of Casey's General Stores during the 1st quarter worth approximately $59,000. 85.63% of the stock is owned by hedge funds and other institutional investors.

Casey's General Stores Price Performance

Shares of NASDAQ:CASY traded up $5.16 on Tuesday, reaching $523.42. 264,433 shares of the company traded hands, compared to its average volume of 306,782. The company's 50 day moving average is $483.00 and its 200-day moving average is $444.03. The stock has a market capitalization of $19.46 billion, a PE ratio of 35.75 and a beta of 0.69. Casey's General Stores, Inc. has a fifty-two week low of $350.52 and a fifty-two week high of $526.82. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.92 and a quick ratio of 0.48.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted 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. 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 for the quarter, compared to the consensus estimate of $3.95 billion. During the same period in the prior year, the business posted $2.34 earnings per share. Casey's General Stores's revenue for the quarter was up 10.9% compared to the same quarter last year. As a group, 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 firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be paid a dividend of $0.57 per share. This is a boost from Casey's General Stores's previous quarterly dividend of $0.50. 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%. Casey's General Stores's dividend payout ratio (DPR) is currently 13.66%.

Insider Activity

In other Casey's General Stores news, insider Katrina S. Lindsey sold 2,000 shares of the firm's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $506.07, for a total transaction of $1,012,140.00. Following the completion of the transaction, the insider owned 4,636 shares in the company, valued at $2,346,140.52. This trade represents a 30.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Chad Michael Frazell sold 4,808 shares of the firm's stock in a transaction that occurred 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 sale, the insider directly owned 11,480 shares of the company's stock, valued at approximately $5,785,575.60. The trade was a 29.52% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,646 shares of company stock valued at $22,136,614. 0.56% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on CASY. Stephens reaffirmed an "overweight" rating and issued a $490.00 price objective on shares of Casey's General Stores in a research note on Tuesday, June 10th. BMO Capital Markets lifted their target price on Casey's General Stores from $450.00 to $515.00 and gave the company a "market perform" rating in a report on Wednesday, June 11th. The Goldman Sachs Group raised their price objective on 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. Wall Street Zen raised Casey's General Stores from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Finally, Wells Fargo & Company lifted their target price 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $465.25.

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.