Flagship Harbor Advisors LLC Buys 23 Shares of Casey’s General Stores, Inc. (NASDAQ:CASY)

Flagship Harbor Advisors LLC boosted its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 4.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 590 shares of the company’s stock after purchasing an additional 23 shares during the period. Flagship Harbor Advisors LLC’s holdings in Casey’s General Stores were worth $256,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CASY. Vanguard Group Inc. grew its position in Casey’s General Stores by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 3,799,104 shares of the company’s stock worth $1,505,319,000 after purchasing an additional 44,295 shares during the period. T. Rowe Price Investment Management Inc. grew its holdings in shares of Casey’s General Stores by 1.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,776,323 shares of the company’s stock worth $703,833,000 after acquiring an additional 31,131 shares during the period. Franklin Resources Inc. grew its holdings in shares of Casey’s General Stores by 29.5% in the fourth quarter. Franklin Resources Inc. now owns 678,778 shares of the company’s stock worth $268,952,000 after acquiring an additional 154,541 shares during the period. Raymond James Financial Inc. purchased a new stake in Casey’s General Stores during the fourth quarter valued at $236,500,000. Finally, GAMMA Investing LLC lifted its holdings in Casey’s General Stores by 54,448.8% in 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 during the period. Institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Stock Down 0.2%

Shares of CASY stock opened at $504.01 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.92 and a quick ratio of 0.48. Casey’s General Stores, Inc. has a one year low of $350.52 and a one year high of $514.32. The company’s fifty day moving average price is $464.14 and its 200-day moving average price is $431.73. The company has a market capitalization of $18.74 billion, a price-to-earnings ratio of 34.43, a PEG ratio of 2.51 and a beta of 0.65.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results on Monday, June 9th. The company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.95 billion. During the same period last year, the firm earned $2.34 earnings per share. The business’s quarterly revenue was up 10.9% on a year-over-year basis. Sell-side analysts expect that Casey’s General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey’s General Stores Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be given a dividend of $0.57 per share. The ex-dividend date is Friday, August 1st. This represents a $2.28 annualized dividend and a dividend yield of 0.45%. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.50. Casey’s General Stores’s dividend payout ratio (DPR) is currently 13.66%.

Analyst Ratings Changes

A number of research firms have issued reports on CASY. Stephens restated an “overweight” rating and set a $490.00 price target on shares of Casey’s General Stores in a research note on Tuesday, June 10th. BMO Capital Markets boosted their target price 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 target price on shares of Casey’s General Stores and gave the company a “sector perform” rating in a report on Wednesday, March 12th. Wall Street Zen upgraded shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research note on Saturday, June 14th. Finally, KeyCorp upped their price objective on Casey’s General Stores from $500.00 to $550.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $453.00.

Insider Activity at Casey’s General Stores

In related news, insider Katrina S. Lindsey sold 250 shares of the company’s stock in a transaction on Friday, April 4th. The shares were sold at an average price of $437.01, for a total transaction of $109,252.50. Following the completion of the transaction, the insider now owns 2,443 shares in the company, valued at approximately $1,067,615.43. This represents a 9.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Allison M. Wing sold 1,000 shares of Casey’s General Stores stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $502.16, for a total transaction of $502,160.00. Following the completion of the sale, the director now owns 3,058 shares in the company, valued at approximately $1,535,605.28. This represents a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,136 shares of company stock valued at $21,860,121. 0.56% of the stock is owned by company insiders.

Casey’s General Stores 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.