Beacon Investment Advisors LLC Boosts Stock Holdings in Casey’s General Stores, Inc. (NASDAQ:CASY)

Beacon Investment Advisors LLC increased its position in Casey’s General Stores, Inc. (NASDAQ:CASY) by 2.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,916 shares of the company’s stock after buying an additional 255 shares during the quarter. Casey’s General Stores comprises about 1.8% of Beacon Investment Advisors LLC’s investment portfolio, making the stock its 11th biggest position. Beacon Investment Advisors LLC’s holdings in Casey’s General Stores were worth $3,929,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC increased its holdings in Casey’s General Stores by 55.6% during the 4th quarter. Sanctuary Advisors LLC now owns 8,579 shares of the company’s stock worth $3,629,000 after purchasing an additional 3,065 shares during the last quarter. Scholtz & Company LLC acquired a new position in Casey’s General Stores in the fourth quarter worth about $2,375,000. JLB & Associates Inc. increased its holdings in Casey’s General Stores by 1.8% in the fourth quarter. JLB & Associates Inc. now owns 43,029 shares of the company’s stock valued at $17,049,000 after buying an additional 749 shares during the last quarter. Segall Bryant & Hamill LLC grew its position in shares of Casey’s General Stores by 9.1% in the 4th quarter. Segall Bryant & Hamill LLC now owns 53,330 shares of the company’s stock worth $21,131,000 after acquiring an additional 4,458 shares in the last quarter. Finally, South Dakota Investment Council raised its position in shares of Casey’s General Stores by 28.0% during the 4th quarter. South Dakota Investment Council now owns 10,065 shares of the company’s stock valued at $3,988,000 after acquiring an additional 2,200 shares in the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

Casey’s General Stores Price Performance

Shares of NASDAQ:CASY opened at $460.07 on Monday. The business’s 50 day moving average is $421.46 and its 200-day moving average is $411.06. The company has a current ratio of 0.88, a quick ratio of 0.49 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $17.08 billion, a PE ratio of 32.06, a PEG ratio of 2.40 and a beta of 0.74. Casey’s General Stores, Inc. has a 1-year low of $309.51 and a 1-year high of $468.88.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Tuesday, March 11th. The company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.57. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. The firm had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.74 billion. During the same period last year, the firm posted $2.33 EPS. The business’s revenue was up 17.2% on a year-over-year basis. Sell-side analysts predict that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey’s General Stores Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be given a $0.50 dividend. The ex-dividend date is Thursday, May 1st. This represents a $2.00 annualized dividend and a dividend yield of 0.43%. Casey’s General Stores’s dividend payout ratio is currently 13.94%.

Insider Activity at Casey’s General Stores

In related news, Director Mike Spanos purchased 256 shares of Casey’s General Stores stock in a transaction dated Thursday, March 13th. The stock was bought at an average price of $390.54 per share, for a total transaction of $99,978.24. Following the completion of the acquisition, the director now directly owns 3,356 shares of the company’s stock, valued at $1,310,652.24. This represents a 8.26 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Katrina S. Lindsey sold 250 shares of the company’s stock in a transaction on Friday, April 4th. The stock was 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 directly owns 2,443 shares of the company’s stock, valued at approximately $1,067,615.43. The trade was a 9.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently commented on CASY shares. Stephens raised shares of Casey’s General Stores to a “strong-buy” rating in a report on Monday, April 7th. Evercore ISI raised their price target on Casey’s General Stores from $450.00 to $460.00 and gave the stock an “outperform” rating in a report on Tuesday, April 1st. Gordon Haskett upgraded shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Royal Bank of Canada set a $438.00 price objective on shares of Casey’s General Stores and gave the company a “sector perform” rating in a research report on Wednesday, March 12th. Finally, KeyCorp initiated coverage on Casey’s General Stores in a report on Friday, April 11th. They set an “overweight” rating and a $500.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Casey’s General Stores presently has a consensus rating of “Moderate Buy” and a consensus target price of $430.33.

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.