Casey’s General Stores, Inc. (NASDAQ:CASY) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its position in Casey’s General Stores, Inc. (NASDAQ:CASY) by 3.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 285,089 shares of the company’s stock after acquiring an additional 8,560 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.77% of Casey’s General Stores worth $123,740,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of CASY. GAMMA Investing LLC lifted its stake in Casey’s General Stores by 54,448.8% in the 1st quarter. GAMMA Investing LLC now owns 543,852 shares of the company’s stock valued at $236,054,000 after buying an additional 542,855 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Casey’s General Stores by 51.5% in the 1st quarter. Bank of New York Mellon Corp now owns 515,603 shares of the company’s stock valued at $223,792,000 after buying an additional 175,372 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Casey’s General Stores by 699.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 126,845 shares of the company’s stock valued at $55,056,000 after buying an additional 110,982 shares in the last quarter. Freestone Grove Partners LP purchased a new stake in Casey’s General Stores in the 4th quarter valued at approximately $24,985,000. Finally, Northern Trust Corp lifted its stake in Casey’s General Stores by 21.5% in the 4th quarter. Northern Trust Corp now owns 332,504 shares of the company’s stock valued at $131,748,000 after buying an additional 58,844 shares in the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

Casey’s General Stores Trading Down 0.6%

CASY stock opened at $515.78 on Tuesday. The company has a market cap of $19.18 billion, a price-to-earnings ratio of 35.23 and a beta of 0.69. The company has a quick ratio of 0.48, a current ratio of 0.92 and a debt-to-equity ratio of 0.69. The business has a fifty day simple moving average of $507.61 and a 200-day simple moving average of $458.15. Casey’s General Stores, Inc. has a 52 week low of $350.52 and a 52 week high of $531.24.

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 analysts’ consensus estimates of $1.94 by $0.69. The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.95 billion. Casey’s General Stores had a return on equity of 16.28% and a net margin of 3.43%. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.34 EPS. On average, equities research analysts expect 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 disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Friday, August 1st. This is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.50. Casey’s General Stores’s payout ratio is currently 15.57%.

Insider Buying and Selling at Casey’s General Stores

In other news, Director Mike Spanos acquired 200 shares of the company’s stock in a transaction dated Monday, June 30th. The stock was acquired at an average cost of $503.18 per share, for a total transaction of $100,636.00. Following the acquisition, the director directly owned 3,560 shares in the company, valued at approximately $1,791,320.80. This represents a 5.95% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Chad Michael Frazell sold 4,808 shares of the stock in a transaction on 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 sale, the insider owned 11,480 shares of the company’s stock, valued at approximately $5,785,575.60. This represents a 29.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,646 shares of company stock worth $22,136,614. 0.54% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CASY shares. The Goldman Sachs Group upped their target price on Casey’s General Stores from $385.00 to $450.00 and gave the company a “neutral” rating in a research note on Wednesday, June 11th. KeyCorp increased their price target on Casey’s General Stores from $550.00 to $575.00 and gave the stock an “overweight” rating in a research note on Friday, July 25th. BMO Capital Markets increased their price target on Casey’s General Stores from $450.00 to $515.00 and gave the stock a “market perform” rating in a research note on Wednesday, June 11th. Royal Bank Of Canada increased their price target on Casey’s General Stores from $468.00 to $542.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 9th. Finally, Wall Street Zen raised Casey’s General Stores from a “hold” rating to a “buy” rating in a research note on Saturday, June 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $467.33.

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.