Casey’s General Stores, Inc. $CASY Shares Acquired by Assetmark Inc.

Assetmark Inc. lifted its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 510.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,055 shares of the company’s stock after acquiring an additional 13,424 shares during the period. Assetmark Inc.’s holdings in Casey’s General Stores were worth $11,686,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in shares of Casey’s General Stores by 7.4% in the fourth quarter. Geode Capital Management LLC now owns 760,438 shares of the company’s stock valued at $420,416,000 after purchasing an additional 52,250 shares during the period. Burns J W & Co. Inc. NY lifted its position in shares of Casey’s General Stores by 103.5% during the 1st quarter. Burns J W & Co. Inc. NY now owns 2,448 shares of the company’s stock worth $1,782,000 after buying an additional 1,245 shares during the period. North Dakota State Investment Board bought a new stake in Casey’s General Stores during the fourth quarter worth about $720,000. Jackson Creek Investment Advisors LLC acquired a new stake in Casey’s General Stores during the 4th quarter valued at $1,338,000. Finally, PNC Financial Services Group Inc. increased its position in Casey’s General Stores by 2.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 140,491 shares of the company’s stock valued at $77,651,000 after acquiring an additional 3,553 shares in the last quarter. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Casey’s General Stores from $719.00 to $975.00 and gave the stock a “neutral” rating in a research note on Friday, June 12th. BNP Paribas Exane lowered their price objective on Casey’s General Stores from $1,032.00 to $995.00 and set an “outperform” rating for the company in a research report on Thursday, June 25th. UBS Group upped their target price on shares of Casey’s General Stores from $805.00 to $945.00 and gave the company a “neutral” rating in a research report on Thursday, June 11th. Zacks Research lowered shares of Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. Finally, Northcoast Research upgraded shares of Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $950.00 price target for the company in a research report on Monday, July 13th. Fourteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $940.00.

Casey’s General Stores Stock Performance

Shares of NASDAQ CASY opened at $866.46 on Tuesday. The stock has a 50 day moving average of $822.35 and a 200-day moving average of $734.95. The company has a current ratio of 1.01, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $32.07 billion, a P/E ratio of 45.22, a P/E/G ratio of 2.58 and a beta of 0.62. Casey’s General Stores, Inc. has a 12 month low of $490.00 and a 12 month high of $927.85.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.31 by $1.06. The company had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.33 billion. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.The business’s revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.63 earnings per share. As a group, equities research analysts predict that Casey’s General Stores, Inc. will post 21.14 EPS for the current year.

Casey’s General Stores Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Saturday, August 1st will be paid a $0.65 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.3%. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.57. Casey’s General Stores’s payout ratio is currently 11.90%.

Insider Buying and Selling

In other news, insider Chad Michael Frazell sold 3,013 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $787.49, for a total transaction of $2,372,707.37. Following the completion of the sale, the insider owned 9,823 shares in the company, valued at $7,735,514.27. The trade was a 23.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Darren M. Rebelez sold 19,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $801.46, for a total value of $15,227,740.00. Following the transaction, the chief executive officer directly owned 89,174 shares in the company, valued at $71,469,394.04. The trade was a 17.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 30,243 shares of company stock worth $24,421,877. Corporate insiders own 0.54% of the company’s stock.

Casey’s General Stores Company Profile

Casey’s General Stores, Inc (NASDAQ: CASY) is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.