Envestnet Portfolio Solutions Inc. Decreases Position in Casey’s General Stores, Inc. (NASDAQ:CASY)

Envestnet Portfolio Solutions Inc. cut its stake in Casey’s General Stores, Inc. (NASDAQ:CASY) by 6.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,934 shares of the company’s stock after selling 638 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Casey’s General Stores were worth $4,312,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. HighPoint Advisor Group LLC lifted its stake in Casey’s General Stores by 1.7% in the 4th quarter. HighPoint Advisor Group LLC now owns 1,468 shares of the company’s stock worth $628,000 after purchasing an additional 25 shares in the last quarter. Burns J W & Co. Inc. NY lifted its stake in Casey’s General Stores by 2.1% in the 1st quarter. Burns J W & Co. Inc. NY now owns 1,204 shares of the company’s stock worth $522,000 after purchasing an additional 25 shares in the last quarter. Dark Forest Capital Management LP lifted its stake in Casey’s General Stores by 3.2% in the 4th quarter. Dark Forest Capital Management LP now owns 902 shares of the company’s stock worth $357,000 after purchasing an additional 28 shares in the last quarter. Harbour Investments Inc. lifted its stake in Casey’s General Stores by 3.1% in the 4th quarter. Harbour Investments Inc. now owns 1,002 shares of the company’s stock worth $397,000 after purchasing an additional 30 shares in the last quarter. Finally, Barden Capital Management Inc. lifted its stake in Casey’s General Stores by 1.1% in the 1st quarter. Barden Capital Management Inc. now owns 3,212 shares of the company’s stock worth $1,394,000 after purchasing an additional 34 shares in the last quarter. 85.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CASY shares. Evercore ISI raised their target price on shares of 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. BMO Capital Markets lifted their price target on shares of Casey’s General Stores from $450.00 to $515.00 and gave the company a “market perform” rating in a research 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 company a “sector perform” rating in a research report on Wednesday, March 12th. The Goldman Sachs Group lifted their price target on shares of Casey’s General Stores from $385.00 to $450.00 and gave the company a “neutral” rating in a research report on Wednesday, June 11th. Finally, Wells Fargo & Company lifted 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 research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Casey’s General Stores presently has an average rating of “Moderate Buy” and a consensus target price of $453.00.

Casey’s General Stores Stock Down 1.2%

Casey’s General Stores stock opened at $500.27 on Friday. Casey’s General Stores, Inc. has a fifty-two week low of $350.52 and a fifty-two week high of $512.88. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.48 and a current ratio of 0.92. The firm has a 50 day moving average price of $460.38 and a 200 day moving average price of $429.38. The company has a market capitalization of $18.57 billion, a PE ratio of 34.17, a price-to-earnings-growth ratio of 2.50 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 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $3.95 billion. During the same quarter last year, the firm earned $2.34 EPS. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. Research analysts expect 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. Investors of record on Friday, August 1st will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 0.46%. 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. Casey’s General Stores’s dividend payout ratio (DPR) is 13.66%.

Insider Activity 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 on 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 completion of the transaction, the chief executive officer now owns 89,840 shares in the company, valued at $45,623,447.20. The trade was a 18.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Katrina S. Lindsey sold 2,000 shares of the business’s stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $506.07, for a total transaction of $1,012,140.00. Following the completion of the transaction, the insider now owns 4,636 shares of the company’s stock, valued at approximately $2,346,140.52. This trade represents a 30.14% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,136 shares of company stock worth $21,860,121. Insiders own 0.56% of the company’s stock.

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.