ProShare Advisors LLC Increases Position in Casey's General Stores, Inc. (NASDAQ:CASY)

ProShare Advisors LLC lifted its position in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 1.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 87,723 shares of the company's stock after buying an additional 1,143 shares during the period. ProShare Advisors LLC owned approximately 0.24% of Casey's General Stores worth $34,758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Casey's General Stores by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 3,799,104 shares of the company's stock worth $1,505,319,000 after buying an additional 44,295 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in Casey's General Stores by 1.8% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,776,323 shares of the company's stock worth $703,833,000 after purchasing an additional 31,131 shares during the period. JPMorgan Chase & Co. raised its holdings in Casey's General Stores by 18.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 758,804 shares of the company's stock worth $285,090,000 after purchasing an additional 119,350 shares during the period. Franklin Resources Inc. raised its holdings in Casey's General Stores by 29.5% in the 4th quarter. Franklin Resources Inc. now owns 678,778 shares of the company's stock worth $268,952,000 after purchasing an additional 154,541 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Casey's General Stores in the 4th quarter worth $236,500,000. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CASY has been the topic of a number of recent research reports. StockNews.com cut Casey's General Stores from a "buy" rating to a "hold" rating in a report on Saturday, March 8th. Stephens raised Casey's General Stores to a "strong-buy" rating in a report on Monday, April 7th. KeyCorp initiated coverage on Casey's General Stores in a report on Friday, April 11th. They issued an "overweight" rating and a $500.00 target price on the stock. Royal Bank of Canada set a $438.00 target price on Casey's General Stores and gave the stock a "sector perform" rating in a report on Wednesday, March 12th. Finally, Evercore ISI raised their target price on Casey's General Stores from $450.00 to $460.00 and gave the stock an "outperform" rating in a report on Tuesday, April 1st. One investment 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 stock. According to MarketBeat, Casey's General Stores presently has an average rating of "Moderate Buy" and an average target price of $430.33.

Insider Activity

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

Casey's General Stores Price Performance

NASDAQ:CASY traded down $0.06 on Monday, reaching $456.09. 230,590 shares of the company's stock traded hands, compared to its average volume of 290,866. The company has a quick ratio of 0.49, a current ratio of 0.88 and a debt-to-equity ratio of 0.74. The stock has a 50-day simple moving average of $437.09 and a 200-day simple moving average of $420.03. The firm has a market cap of $16.93 billion, a PE ratio of 31.78, a P/E/G ratio of 2.40 and a beta of 0.70. Casey's General Stores, Inc. has a 12 month low of $313.89 and a 12 month high of $474.97.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its quarterly earnings data on Tuesday, March 11th. The company reported $2.33 earnings per share for the quarter, beating analysts' consensus estimates of $1.76 by $0.57. The firm had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.74 billion. Casey's General Stores had a return on equity of 17.17% and a net margin of 3.57%. The business's quarterly revenue was up 17.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.33 earnings per share. Equities research analysts forecast that Casey's General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey's General Stores Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were given a dividend of $0.50 per share. The ex-dividend date was 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 payout ratio is 13.94%.

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.