Praxis Investment Management Inc. Increases Stock Position in Casey’s General Stores, Inc. (NASDAQ:CASY)

Praxis Investment Management Inc. raised its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 45.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 830 shares of the company’s stock after buying an additional 260 shares during the quarter. Praxis Investment Management Inc.’s holdings in Casey’s General Stores were worth $360,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Casey’s General Stores by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 3,799,104 shares of the company’s stock valued at $1,505,319,000 after buying an additional 44,295 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in Casey’s General Stores by 1.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,776,323 shares of the company’s stock valued at $703,833,000 after buying an additional 31,131 shares during the period. Franklin Resources Inc. lifted its position in Casey’s General Stores by 29.5% during the fourth quarter. Franklin Resources Inc. now owns 678,778 shares of the company’s stock valued at $268,952,000 after buying an additional 154,541 shares during the period. Raymond James Financial Inc. bought a new position in shares of Casey’s General Stores during the fourth quarter valued at $236,500,000. Finally, GAMMA Investing LLC increased its holdings in shares of Casey’s General Stores by 54,448.8% during the first quarter. GAMMA Investing LLC now owns 543,852 shares of the company’s stock valued at $236,054,000 after acquiring an additional 542,855 shares in the last quarter. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Wall Street Analysts Forecast Growth

CASY has been the subject of several analyst reports. Stephens restated an “overweight” rating and set a $490.00 price target on shares of Casey’s General Stores in a report on Tuesday, June 10th. KeyCorp raised their price target on Casey’s General Stores from $500.00 to $550.00 and gave the company an “overweight” rating in a report on Wednesday, June 11th. BMO Capital Markets raised their price target on 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 Casey’s General Stores and gave the company a “sector perform” rating in a report on Wednesday, March 12th. Finally, Evercore ISI raised their price target on Casey’s General Stores from $450.00 to $460.00 and gave the company an “outperform” rating in a report on Tuesday, April 1st. 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $453.00.

Insider Buying and Selling at Casey’s General Stores

In other Casey’s General Stores news, insider Thomas P. Brennan, Jr. sold 6,600 shares of the business’s stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $506.03, for a total transaction of $3,339,798.00. Following the completion of the sale, the insider now directly owns 2,100 shares in the company, valued at $1,062,663. The trade was a 75.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Stephen P. Bramlage, Jr. sold 8,478 shares of the business’s stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $509.21, for a total value of $4,317,082.38. Following the sale, the chief financial officer now owns 26,754 shares of the company’s stock, valued at approximately $13,623,404.34. This represents a 24.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,136 shares of company stock worth $21,860,121 in the last three months. 0.56% of the stock is currently owned by company insiders.

Casey’s General Stores Price Performance

NASDAQ CASY opened at $500.27 on Monday. Casey’s General Stores, Inc. has a one year low of $350.52 and a one year high of $512.88. The stock has a 50-day moving average of $460.38 and a 200 day moving average of $429.45. The company has a market capitalization of $18.57 billion, a price-to-earnings ratio of 34.17, a PEG ratio of 2.50 and a beta of 0.66. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.48 and a current ratio of 0.92.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings data 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 return on equity of 16.28% and a net margin of 3.43%. The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.95 billion. During the same period last year, the company earned $2.34 EPS. Casey’s General Stores’s revenue for the quarter was up 10.9% on a year-over-year basis. On average, sell-side analysts forecast 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 declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be paid a dividend of $0.57 per share. 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 dividend yield of 0.46%. The ex-dividend date is Friday, August 1st. Casey’s General Stores’s payout ratio is currently 13.66%.

Casey’s General Stores Company Profile

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.