Corient IA LLC Purchases Shares of 2,092 Casey’s General Stores, Inc. (NASDAQ:CASY)

Corient IA LLC acquired a new position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 2,092 shares of the company’s stock, valued at approximately $908,000. Casey’s General Stores comprises about 0.6% of Corient IA LLC’s holdings, making the stock its 25th largest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. T. Rowe Price Investment Management Inc. raised its stake in shares of Casey’s General Stores by 1.8% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,776,323 shares of the company’s stock valued at $703,833,000 after acquiring an additional 31,131 shares during the period. JPMorgan Chase & Co. increased its holdings in Casey’s General Stores by 42.0% in the 1st quarter. JPMorgan Chase & Co. now owns 1,036,426 shares of the company’s stock valued at $449,851,000 after purchasing an additional 306,628 shares in the last quarter. Raymond James Financial Inc. increased its holdings in Casey’s General Stores by 8.9% in the 1st quarter. Raymond James Financial Inc. now owns 649,815 shares of the company’s stock valued at $282,045,000 after purchasing an additional 52,939 shares in the last quarter. GAMMA Investing LLC raised its position 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 purchasing an additional 542,855 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Casey’s General Stores by 51.5% during the first quarter. Bank of New York Mellon Corp now owns 515,603 shares of the company’s stock worth $223,792,000 after purchasing an additional 175,372 shares in the last quarter. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Casey’s General Stores

In other Casey’s General Stores news, CFO Stephen P. Bramlage, Jr. sold 8,478 shares of the stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $509.21, for a total value of $4,317,082.38. Following the completion of the sale, the chief financial officer owned 26,754 shares in the company, valued at $13,623,404.34. This represents a 24.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Katrina S. Lindsey sold 2,000 shares of the company’s stock in a transaction on 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 directly owned 4,636 shares in the company, valued at $2,346,140.52. This trade represents a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,646 shares of company stock worth $22,136,614. Company insiders own 0.54% of the company’s stock.

Casey’s General Stores Price Performance

NASDAQ:CASY opened at $507.84 on Friday. 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’s 50-day moving average price is $513.09 and its 200 day moving average price is $460.50. Casey’s General Stores, Inc. has a 52-week low of $350.52 and a 52-week high of $531.24. The firm has a market cap of $18.88 billion, a P/E ratio of 34.69 and a beta of 0.69.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings data on Monday, June 9th. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.69. The business had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.95 billion. Casey’s General Stores had a return on equity of 16.28% and a net margin of 3.43%. The company’s revenue was up 10.9% compared to the same quarter last year. During the same period last year, the company posted $2.34 EPS. As a group, sell-side analysts predict that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey’s General Stores Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were paid a dividend of $0.57 per share. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Friday, August 1st. This represents a $2.28 annualized dividend and a yield of 0.4%. Casey’s General Stores’s dividend payout ratio (DPR) is presently 15.57%.

Wall Street Analyst Weigh In

Several brokerages recently commented on CASY. KeyCorp raised their target price on Casey’s General Stores from $550.00 to $575.00 and gave the company an “overweight” rating in a report on Friday, July 25th. BMO Capital Markets lifted their price objective on shares of Casey’s General Stores from $450.00 to $515.00 and gave the company a “market perform” rating in a research note on Wednesday, June 11th. Stephens reissued an “overweight” rating and set a $490.00 target price on shares of Casey’s General Stores in a research report on Tuesday, June 10th. Royal Bank Of Canada raised their price target on shares of Casey’s General Stores from $468.00 to $542.00 and gave the company a “sector perform” rating in a report on Wednesday, July 9th. Finally, The Goldman Sachs Group lifted their price target 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 assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Casey’s General Stores presently has an average rating of “Moderate Buy” and an average price target 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.