Casey’s General Stores, Inc. $CASY Shares Sold by AdvisorShares Investments LLC

AdvisorShares Investments LLC trimmed its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 10.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,843 shares of the company’s stock after selling 1,327 shares during the quarter. Casey’s General Stores comprises approximately 1.6% of AdvisorShares Investments LLC’s investment portfolio, making the stock its 10th biggest position. AdvisorShares Investments LLC’s holdings in Casey’s General Stores were worth $8,620,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CASY. Foster Dykema Cabot & Partners LLC acquired a new stake in Casey’s General Stores during the third quarter worth approximately $25,000. True Wealth Design LLC boosted its holdings in shares of Casey’s General Stores by 350.0% during the fourth quarter. True Wealth Design LLC now owns 54 shares of the company’s stock worth $30,000 after acquiring an additional 42 shares during the period. Central Pacific Bank Trust Division grew its position in shares of Casey’s General Stores by 52.8% in the fourth quarter. Central Pacific Bank Trust Division now owns 55 shares of the company’s stock valued at $30,000 after purchasing an additional 19 shares during the last quarter. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Casey’s General Stores in the third quarter valued at approximately $35,000. Finally, ORG Partners LLC increased its stake in shares of Casey’s General Stores by 47.6% during the fourth quarter. ORG Partners LLC now owns 62 shares of the company’s stock worth $34,000 after purchasing an additional 20 shares during the period. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. BNP Paribas Exane dropped their price target on Casey’s General Stores from $1,032.00 to $995.00 and set an “outperform” rating for the company in a report on Thursday, June 25th. Capital One Financial assumed coverage on Casey’s General Stores in a report on Monday, June 22nd. They issued an “equal weight” rating and a $896.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on Casey’s General Stores from $719.00 to $975.00 and gave the stock a “neutral” rating in a research report on Friday, June 12th. BMO Capital Markets raised Casey’s General Stores from a “market perform” rating to an “outperform” rating and set a $950.00 target price for the company in a report on Monday, June 29th. Finally, KeyCorp lifted their target price on Casey’s General Stores from $950.00 to $970.00 and gave the stock an “overweight” rating in a report on Thursday, June 11th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $939.29.

Casey’s General Stores Price Performance

Shares of CASY opened at $797.42 on Friday. Casey’s General Stores, Inc. has a one year low of $490.00 and a one year high of $927.85. The company has a market cap of $29.51 billion, a P/E ratio of 41.62, a P/E/G ratio of 2.40 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. The firm has a 50 day simple moving average of $820.92 and a two-hundred day simple moving average of $712.84.

Casey’s General Stores (NASDAQ:CASY) last issued its earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates of $3.31 by $1.06. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.The firm had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.33 billion. During the same quarter last year, the business posted $2.63 EPS. The company’s revenue was up 14.5% compared to the same quarter last year. Research analysts forecast that Casey’s General Stores, Inc. will post 21.05 EPS for the current fiscal year.

Casey’s General Stores Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Saturday, August 1st will be given a dividend of $0.65 per share. The ex-dividend date is Friday, July 31st. This represents a $2.60 annualized dividend 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 dividend payout ratio is currently 11.90%.

Insider Buying and Selling

In related news, insider Katrina S. Lindsey sold 2,000 shares of the firm’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $800.00, for a total value of $1,600,000.00. Following the sale, the insider directly owned 6,668 shares of the company’s stock, valued at $5,334,400. This trade represents a 23.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Chad Michael Frazell sold 3,013 shares of Casey’s General Stores stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $787.49, for a total value of $2,372,707.37. Following the completion of the transaction, the insider owned 9,823 shares in the company, valued at approximately $7,735,514.27. This represents a 23.47% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.54% of the stock is owned by corporate insiders.

About Casey’s General Stores

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.