First Trust Advisors LP Has $27.48 Million Stock Position in Casey's General Stores, Inc. (NASDAQ:CASY)

First Trust Advisors LP lowered its position in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 8.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 69,361 shares of the company's stock after selling 6,710 shares during the period. First Trust Advisors LP owned 0.19% of Casey's General Stores worth $27,483,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in Casey's General Stores by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 3,799,104 shares of the company's stock worth $1,505,319,000 after acquiring an additional 44,295 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Casey's General Stores by 18.7% in the third quarter. JPMorgan Chase & Co. now owns 758,804 shares of the company's stock valued at $285,090,000 after purchasing an additional 119,350 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Casey's General Stores by 29.5% during the 4th quarter. Franklin Resources Inc. now owns 678,778 shares of the company's stock worth $268,952,000 after buying an additional 154,541 shares in the last quarter. Raymond James Financial Inc. bought a new position in Casey's General Stores in the 4th quarter valued at $236,500,000. Finally, Norges Bank acquired a new stake in shares of Casey's General Stores in the 4th quarter valued at $175,607,000. 85.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Stephens upgraded Casey's General Stores to a "strong-buy" rating in a report on Monday, April 7th. KeyCorp started coverage on shares of Casey's General Stores in a research note on Friday, April 11th. They set an "overweight" rating and a $500.00 price target for the company. Evercore ISI lifted 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 report on Tuesday, April 1st. Gordon Haskett upgraded Casey's General Stores from a "hold" rating to a "buy" rating in a research report on Thursday, February 13th. Finally, StockNews.com cut Casey's General Stores from a "buy" rating to a "hold" rating in a research note on Saturday, March 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $430.33.

Insider Transactions at Casey's General Stores

In related news, Director Mike Spanos purchased 256 shares of Casey's General Stores stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average cost of $390.54 per share, with a total value of $99,978.24. Following the completion of the transaction, the director now owns 3,356 shares of the company's stock, valued at approximately $1,310,652.24. This trade represents a 8.26 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Katrina S. Lindsey sold 250 shares of the business's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $437.01, for a total value of $109,252.50. Following the transaction, the insider now directly owns 2,443 shares in the company, valued at $1,067,615.43. This trade represents a 9.28 % decrease in their position. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by insiders.

Casey's General Stores Stock Down 1.0 %

CASY stock traded down $4.64 during mid-day trading on Thursday, hitting $457.45. 79,711 shares of the company were exchanged, compared to its average volume of 285,229. Casey's General Stores, Inc. has a 1-year low of $313.67 and a 1-year high of $468.88. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.49 and a current ratio of 0.88. The firm's 50 day simple moving average is $425.87 and its 200 day simple moving average is $414.76. The firm has a market cap of $16.98 billion, a P/E ratio of 31.91, a P/E/G ratio of 2.40 and a beta of 0.74.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its quarterly earnings data on Tuesday, March 11th. The company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.57. Casey's General Stores had a return on equity of 17.17% and a net margin of 3.57%. The company had revenue of $3.90 billion during the quarter, compared to analysts' expectations of $3.74 billion. Casey's General Stores's revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.33 earnings per share. On average, sell-side analysts predict that Casey's General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey's General Stores Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.44%. Casey's General Stores's dividend payout ratio (DPR) is presently 13.94%.

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.