Casey’s General Stores, Inc. $CASY Position Boosted by Cetera Investment Advisers

Cetera Investment Advisers grew its holdings in Casey’s General Stores, Inc. (NASDAQ:CASY) by 12.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,429 shares of the company’s stock after purchasing an additional 2,998 shares during the period. Cetera Investment Advisers owned about 0.07% of Casey’s General Stores worth $19,965,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its stake in shares of Casey’s General Stores by 179,938.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,659,164 shares of the company’s stock worth $1,469,747,000 after acquiring an additional 2,657,687 shares during the last quarter. Franklin Resources Inc. boosted its position in Casey’s General Stores by 40.9% during the fourth quarter. Franklin Resources Inc. now owns 1,068,682 shares of the company’s stock valued at $590,671,000 after purchasing an additional 310,470 shares during the last quarter. Geode Capital Management LLC grew its stake in 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 in the last quarter. Invesco Ltd. grew its stake in Casey’s General Stores by 12.6% in the fourth quarter. Invesco Ltd. now owns 572,152 shares of the company’s stock valued at $316,234,000 after purchasing an additional 64,154 shares in the last quarter. Finally, Norges Bank acquired a new position in Casey’s General Stores in the 4th quarter worth about $265,163,000. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Casey’s General Stores Stock Performance

Shares of CASY opened at $853.38 on Tuesday. The company has a market capitalization of $31.58 billion, a PE ratio of 44.54, a price-to-earnings-growth ratio of 2.58 and a beta of 0.62. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.60. Casey’s General Stores, Inc. has a one year low of $490.00 and a one year high of $927.85. The company’s fifty day moving average price is $821.62 and its 200 day moving average price is $745.63.

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

Casey’s General Stores Increases Dividend

The business 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 is Friday, July 31st. This is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.57. This represents a $2.60 annualized dividend and a dividend yield of 0.3%. Casey’s General Stores’s dividend payout ratio is 11.90%.

Insiders Place Their Bets

In related news, Director Allison M. Wing sold 530 shares of the stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $837.58, for a total value of $443,917.40. Following the completion of the sale, the director owned 3,042 shares in the company, valued at approximately $2,547,918.36. This trade represents a 14.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Darren M. Rebelez sold 19,000 shares of Casey’s General Stores stock in a transaction dated 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 sale, the chief executive officer directly owned 89,174 shares in the company, valued at approximately $71,469,394.04. This trade represents a 17.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 30,243 shares of company stock valued at $24,421,877 in the last 90 days. 0.67% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CASY shares. The Goldman Sachs Group lifted their price target on Casey’s General Stores from $695.00 to $795.00 and gave the company a “neutral” rating in a report on Thursday, June 25th. William Blair began coverage on shares of Casey’s General Stores in a research report on Wednesday, May 20th. They set an “outperform” rating on the stock. Weiss Ratings cut shares of Casey’s General Stores from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, July 21st. Zacks Research downgraded shares of Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 5th. Finally, Royal Bank Of Canada raised their price target on shares of Casey’s General Stores from $794.00 to $850.00 and gave the company a “sector perform” rating in a report on Thursday, June 25th. Fourteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Casey’s General Stores presently has a consensus rating of “Moderate Buy” and a consensus target price of $940.00.

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.