Casey’s General Stores, Inc. (NASDAQ:CASY) Shares Acquired by Sunbelt Securities Inc.

Sunbelt Securities Inc. lifted its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 1.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,870 shares of the company’s stock after buying an additional 26 shares during the quarter. Sunbelt Securities Inc.’s holdings in Casey’s General Stores were worth $812,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CASY. IFP Advisors Inc raised its stake in shares of Casey’s General Stores by 121.1% during the 4th quarter. IFP Advisors Inc now owns 367 shares of the company’s stock worth $151,000 after buying an additional 201 shares during the period. Bank of New York Mellon Corp raised its stake in Casey’s General Stores by 1.0% in the 4th quarter. Bank of New York Mellon Corp now owns 340,231 shares of the company’s stock valued at $134,810,000 after purchasing an additional 3,321 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in Casey’s General Stores in the 4th quarter valued at $45,224,000. QRG Capital Management Inc. raised its stake in Casey’s General Stores by 66.6% in the 4th quarter. QRG Capital Management Inc. now owns 928 shares of the company’s stock valued at $368,000 after purchasing an additional 371 shares during the last quarter. Finally, Verus Capital Partners LLC raised its stake in Casey’s General Stores by 4.5% in the 4th quarter. Verus Capital Partners LLC now owns 1,036 shares of the company’s stock valued at $410,000 after purchasing an additional 45 shares during the last quarter. 85.63% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Casey’s General Stores

In related news, 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 transaction of $4,317,082.38. Following the completion of the transaction, the chief financial officer now directly owns 26,754 shares in the company, valued at $13,623,404.34. This trade represents a 24.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Darren M. Rebelez sold 20,000 shares of the firm’s 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 transaction, the chief executive officer now owns 89,840 shares of the company’s stock, valued at $45,623,447.20. This trade represents a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,136 shares of company stock worth $21,860,121. 0.56% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Wall Street Zen raised 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 objective on shares of Casey’s General Stores in a research note on Tuesday, June 10th. 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 research note on Wednesday, March 12th. BMO Capital Markets raised their target price on Casey’s General Stores from $450.00 to $515.00 and gave the stock a “market perform” rating in a research note on Wednesday, June 11th. 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 research note on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $453.00.

Casey’s General Stores Stock Performance

NASDAQ CASY opened at $506.18 on Friday. The stock has a market cap of $18.82 billion, a PE ratio of 34.58, a P/E/G ratio of 2.52 and a beta of 0.65. 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, Inc. has a twelve month low of $350.52 and a twelve month high of $514.32. The stock has a fifty day simple moving average of $465.06 and a 200-day simple moving average of $432.38.

Casey’s General Stores (NASDAQ:CASY) last released 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 business had revenue of $3.99 billion during 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%. The company’s revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.34 EPS. Equities analysts anticipate that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey’s General Stores Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be issued a dividend of $0.57 per share. The ex-dividend date is Friday, August 1st. 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 dividend yield of 0.45%. Casey’s General Stores’s dividend payout ratio is currently 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.