Casey’s General Stores, Inc. (NASDAQ:CASY) Stock Position Raised by Invesco LLC

Invesco LLC lifted its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 11.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,603 shares of the company’s stock after purchasing an additional 260 shares during the period. Invesco LLC’s holdings in Casey’s General Stores were worth $1,130,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Harbour Capital Advisors LLC acquired a new position in Casey’s General Stores in the 1st quarter worth approximately $384,000. Retirement Guys Formula LLC acquired a new stake in shares of Casey’s General Stores in the first quarter worth $210,000. YHB Investment Advisors Inc. boosted its position in shares of Casey’s General Stores by 2.8% in the first quarter. YHB Investment Advisors Inc. now owns 1,939 shares of the company’s stock worth $842,000 after buying an additional 53 shares during the period. AssuredPartners Investment Advisors LLC raised its position in Casey’s General Stores by 3.4% during the first quarter. AssuredPartners Investment Advisors LLC now owns 7,993 shares of the company’s stock valued at $3,469,000 after buying an additional 266 shares during the period. Finally, Mokosak Advisory Group LLC lifted its stake in Casey’s General Stores by 67.6% in the 1st quarter. Mokosak Advisory Group LLC now owns 2,129 shares of the company’s stock worth $924,000 after acquiring an additional 859 shares in the last quarter. 85.63% of the stock is owned by hedge funds and other institutional investors.

Casey’s General Stores Trading Up 2.0%

NASDAQ:CASY opened at $510.43 on Tuesday. The company’s 50 day moving average is $461.37 and its 200-day moving average is $430.07. The company has a quick ratio of 0.48, a current ratio of 0.92 and a debt-to-equity ratio of 0.69. Casey’s General Stores, Inc. has a 12 month low of $350.52 and a 12 month high of $512.88. The firm has a market cap of $18.95 billion, a price-to-earnings ratio of 34.87, a P/E/G ratio of 2.50 and a beta of 0.65.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Monday, June 9th. The company reported $2.63 EPS for the quarter, topping 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 firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.95 billion. During the same quarter last year, the firm posted $2.34 EPS. The business’s quarterly revenue was up 10.9% on a year-over-year basis. Equities analysts anticipate that Casey’s General Stores, Inc. will post 13.94 EPS 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. Investors of record on Friday, August 1st will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, August 1st. This is an increase 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 0.45%. Casey’s General Stores’s dividend payout ratio (DPR) is 15.57%.

Insider Transactions at Casey’s General Stores

In other Casey’s General Stores news, insider Katrina S. Lindsey sold 250 shares of Casey’s General Stores stock in a transaction 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 completion of the transaction, the insider now owns 2,443 shares in the company, valued at approximately $1,067,615.43. The trade was a 9.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Allison M. Wing sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $502.16, for a total transaction of $502,160.00. Following the transaction, the director now owns 3,058 shares in the company, valued at $1,535,605.28. The trade was a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,136 shares of company stock valued at $21,860,121. 0.56% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CASY shares. 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 reaffirmed an “overweight” rating and set a $490.00 price objective on shares of Casey’s General Stores in a research report on Tuesday, June 10th. Evercore ISI upped their price objective on shares of Casey’s General Stores from $450.00 to $460.00 and gave the company an “outperform” rating in a research note on Tuesday, April 1st. The Goldman Sachs Group lifted their target price on shares of Casey’s General Stores from $385.00 to $450.00 and gave the company a “neutral” rating in a research note on Wednesday, June 11th. Finally, BMO Capital Markets upped their price target on shares of 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $453.00.

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.