KBC Group NV Increases Position in Casey’s General Stores, Inc. (NASDAQ:CASY)

KBC Group NV grew its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 14.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,574 shares of the company’s stock after buying an additional 199 shares during the quarter. KBC Group NV’s holdings in Casey’s General Stores were worth $683,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc bought a new position in Casey’s General Stores in the first quarter worth approximately $25,000. Global Financial Private Client LLC raised its position in shares of Casey’s General Stores by 325.0% during the 1st quarter. Global Financial Private Client LLC now owns 68 shares of the company’s stock valued at $30,000 after purchasing an additional 52 shares during the period. Whipplewood Advisors LLC raised its position in shares of Casey’s General Stores by 160.0% during the 1st quarter. Whipplewood Advisors LLC now owns 117 shares of the company’s stock valued at $51,000 after purchasing an additional 72 shares during the period. Heck Capital Advisors LLC bought a new stake in shares of Casey’s General Stores during the 4th quarter valued at $79,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Casey’s General Stores during the 4th quarter valued at $87,000. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. KeyCorp lifted their price target on shares of Casey’s General Stores from $500.00 to $550.00 and gave the company an “overweight” rating in a report on Wednesday, June 11th. Stephens reissued an “overweight” rating and issued a $490.00 price objective on shares of Casey’s General Stores in a research note on Tuesday, June 10th. Wells Fargo & Company lifted their price objective on shares of Casey’s General Stores from $460.00 to $540.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 11th. Wall Street Zen raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research note on Saturday, June 14th. Finally, The Goldman Sachs Group lifted their price objective on shares of Casey’s General Stores from $385.00 to $450.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Casey’s General Stores currently has a consensus rating of “Moderate Buy” and a consensus target price of $453.00.

Insider Activity at Casey’s General Stores

In other Casey’s General Stores news, insider Chad Michael Frazell sold 4,808 shares of the company’s stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $503.97, for a total value of $2,423,087.76. Following the completion of the transaction, the insider owned 11,480 shares in the company, valued at approximately $5,785,575.60. This represents a 29.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Katrina S. Lindsey sold 2,000 shares of the company’s stock in a transaction dated 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 owned 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. Insiders sold a total of 43,646 shares of company stock valued at $22,136,614 over the last ninety days. Corporate insiders own 0.56% of the company’s stock.

Casey’s General Stores Price Performance

Shares of CASY opened at $516.85 on Friday. The firm has a market capitalization of $19.22 billion, a PE ratio of 35.30, a price-to-earnings-growth ratio of 2.59 and a beta of 0.69. 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 1-year low of $350.52 and a 1-year high of $517.31. The company’s fifty day moving average price is $471.16 and its 200-day moving average price is $435.39.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Monday, June 9th. The company reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.69. The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.95 billion. Casey’s General Stores had a net margin of 3.43% and a return on equity of 16.28%. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.34 earnings per share. On average, equities research analysts predict that Casey’s General Stores, Inc. will post 13.94 EPS for the current 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 of this dividend is Friday, August 1st. 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 yield of 0.44%. Casey’s General Stores’s payout ratio is currently 13.66%.

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.