SG Americas Securities LLC Purchases 1,602 Shares of Casey’s General Stores, Inc. (NASDAQ:CASY)

SG Americas Securities LLC lifted its position in Casey’s General Stores, Inc. (NASDAQ:CASY) by 478.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,937 shares of the company’s stock after acquiring an additional 1,602 shares during the quarter. SG Americas Securities LLC’s holdings in Casey’s General Stores were worth $841,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Versant Capital Management Inc purchased a new position in Casey’s General Stores in the first quarter valued at about $25,000. Global Financial Private Client LLC grew its stake in Casey’s General Stores by 325.0% in the first quarter. Global Financial Private Client LLC now owns 68 shares of the company’s stock valued at $30,000 after purchasing an additional 52 shares during the last quarter. Whipplewood Advisors LLC grew its stake in shares of Casey’s General Stores by 160.0% during the first quarter. Whipplewood Advisors LLC now owns 117 shares of the company’s stock worth $51,000 after acquiring an additional 72 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in shares of Casey’s General Stores during the fourth quarter valued at about $79,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Casey’s General Stores during the fourth quarter valued at about $87,000. 85.63% of the stock is currently owned by institutional investors.

Casey’s General Stores Trading Down 0.3%

NASDAQ CASY opened at $506.31 on Friday. The firm’s 50-day moving average is $459.52 and its two-hundred day moving average is $428.72. Casey’s General Stores, Inc. has a 12 month low of $350.52 and a 12 month high of $512.88. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.92 and a quick ratio of 0.48. The stock has a market capitalization of $18.79 billion, a P/E ratio of 34.58, a PEG ratio of 2.53 and a beta of 0.65.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Monday, June 9th. The company reported $2.63 EPS for the quarter, beating 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 company had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.95 billion. During the same quarter in the prior year, the company 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. On average, sell-side 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 business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be given a $0.57 dividend. 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 0.45%. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.50. Casey’s General Stores’s dividend payout ratio is presently 13.66%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Stephens reissued an “overweight” rating and issued a $490.00 price objective on shares of Casey’s General Stores in a report on Tuesday, June 10th. BMO Capital Markets lifted their target price on shares of 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. Royal Bank Of Canada set a $438.00 price target on shares of Casey’s General Stores and gave the stock a “sector perform” rating in a report on Wednesday, March 12th. KeyCorp lifted their target price on shares of Casey’s General Stores from $500.00 to $550.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 11th. Finally, Wells Fargo & Company boosted their price target on shares of Casey’s General Stores from $460.00 to $540.00 and gave the company an “overweight” rating in a research report on Wednesday, June 11th. One 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’s stock. According to data from MarketBeat, Casey’s General Stores has an average rating of “Moderate Buy” and a consensus price target of $453.00.

Insider Buying and Selling at Casey’s General Stores

In other Casey’s General Stores news, CEO Darren M. Rebelez sold 20,000 shares of the business’s stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $507.83, for a total transaction of $10,156,600.00. Following the sale, the chief executive officer now directly owns 89,840 shares in the company, valued at $45,623,447.20. This represents a 18.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stephen P. Bramlage, Jr. sold 8,478 shares of the business’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 sale, the chief financial officer now owns 26,754 shares in the company, valued at $13,623,404.34. This trade represents a 24.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,136 shares of company stock valued at $20,847,981 over the last 90 days. 0.56% of the stock is owned by insiders.

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.