Pacer Advisors Inc. Grows Stock Position in Casey’s General Stores, Inc. $CASY

Pacer Advisors Inc. raised its position in Casey’s General Stores, Inc. (NASDAQ:CASY) by 24.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 5,543 shares of the company’s stock after acquiring an additional 1,096 shares during the period. Pacer Advisors Inc.’s holdings in Casey’s General Stores were worth $4,035,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Kathmere Capital Management LLC increased its holdings in Casey’s General Stores by 3.5% in the 1st quarter. Kathmere Capital Management LLC now owns 387 shares of the company’s stock worth $282,000 after acquiring an additional 13 shares during the last quarter. Pinnacle Bancorp Inc. increased its stake in shares of Casey’s General Stores by 4.8% in the first quarter. Pinnacle Bancorp Inc. now owns 303 shares of the company’s stock worth $221,000 after purchasing an additional 14 shares in the last quarter. Menard Financial Group LLC increased its stake in shares of Casey’s General Stores by 1.2% in the fourth quarter. Menard Financial Group LLC now owns 1,267 shares of the company’s stock worth $700,000 after purchasing an additional 15 shares in the last quarter. Cibc World Market Inc. raised its position in shares of Casey’s General Stores by 0.3% in the fourth quarter. Cibc World Market Inc. now owns 5,136 shares of the company’s stock valued at $2,839,000 after purchasing an additional 16 shares during the period. Finally, FSB Premier Wealth Management Inc. raised its position in shares of Casey’s General Stores by 0.8% in the fourth quarter. FSB Premier Wealth Management Inc. now owns 2,338 shares of the company’s stock valued at $1,292,000 after purchasing an additional 18 shares during the period. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on CASY shares. Capital One Financial assumed coverage on shares of Casey’s General Stores in a report on Monday, June 22nd. They issued an “equal weight” rating and a $896.00 price objective for the company. William Blair began coverage on shares of Casey’s General Stores in a report on Wednesday, May 20th. They set an “outperform” rating on the stock. Wells Fargo & Company increased their target price on Casey’s General Stores from $910.00 to $960.00 and gave the stock an “overweight” rating in a research report on Thursday, June 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $1,000.00 price target on shares of Casey’s General Stores in a report on Monday, June 15th. Finally, JPMorgan Chase & Co. lifted their price target on Casey’s General Stores from $719.00 to $975.00 and gave the company a “neutral” rating in a research report on Friday, June 12th. Fourteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $944.20.

Casey’s General Stores Price Performance

CASY stock opened at $832.42 on Friday. The firm has a 50 day moving average of $827.71 and a 200-day moving average of $759.74. The firm has a market capitalization of $30.81 billion, a P/E ratio of 43.45, a price-to-earnings-growth ratio of 2.56 and a beta of 0.61. Casey’s General Stores, Inc. has a 12 month low of $490.00 and a 12 month high of $927.85. The company has a current ratio of 1.01, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates of $3.31 by $1.06. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. The business had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.33 billion. During the same quarter in the prior year, the firm posted $2.63 EPS. Casey’s General Stores’s revenue was up 14.5% on a year-over-year basis. As a group, sell-side analysts predict that Casey’s General Stores, Inc. will post 21.14 earnings per share for the current fiscal year.

Casey’s General Stores Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Saturday, August 1st will be given a dividend of $0.65 per share. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, July 31st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.3%. Casey’s General Stores’s dividend payout ratio (DPR) is presently 13.57%.

Insider Transactions at Casey’s General Stores

In related news, CEO Darren M. Rebelez sold 19,000 shares of Casey’s General Stores stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $801.46, for a total transaction of $15,227,740.00. Following the completion of the sale, the chief executive officer owned 89,174 shares of the company’s stock, valued at approximately $71,469,394.04. This trade represents a 17.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Allison M. Wing sold 530 shares of the business’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $837.58, for a total value of $443,917.40. Following the transaction, the director owned 3,042 shares of the company’s stock, valued at approximately $2,547,918.36. The trade was a 14.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 30,243 shares of company stock valued at $24,421,877. Corporate insiders own 0.67% of the company’s stock.

Casey’s General Stores Profile

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.