Casey’s General Stores, Inc. (NASDAQ:CASY) Shares Acquired by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC grew its holdings in Casey’s General Stores, Inc. (NASDAQ:CASY) by 124.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,516 shares of the company’s stock after buying an additional 2,508 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Casey’s General Stores were worth $1,960,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its position in Casey’s General Stores by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 3,799,104 shares of the company’s stock worth $1,505,319,000 after purchasing an additional 44,295 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in Casey’s General Stores by 1.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,776,323 shares of the company’s stock worth $703,833,000 after purchasing an additional 31,131 shares during the last quarter. JPMorgan Chase & Co. increased its position in Casey’s General Stores by 18.7% during the third quarter. JPMorgan Chase & Co. now owns 758,804 shares of the company’s stock worth $285,090,000 after purchasing an additional 119,350 shares during the last quarter. Franklin Resources Inc. increased its position in Casey’s General Stores by 29.5% during the fourth quarter. Franklin Resources Inc. now owns 678,778 shares of the company’s stock worth $268,952,000 after purchasing an additional 154,541 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Casey’s General Stores during the fourth quarter worth about $236,500,000. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Katrina S. Lindsey sold 250 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $437.01, for a total value of $109,252.50. Following the completion of the transaction, the insider now owns 2,443 shares of the company’s stock, valued at approximately $1,067,615.43. This trade represents a 9.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mike Spanos acquired 256 shares of the stock in a transaction dated Thursday, March 13th. The stock was acquired at an average cost of $390.54 per share, with a total value of $99,978.24. Following the purchase, the director now owns 3,356 shares of the company’s stock, valued at approximately $1,310,652.24. This trade represents a 8.26% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.56% of the company’s stock.

Casey’s General Stores Price Performance

Shares of CASY opened at $441.03 on Monday. The firm has a 50-day simple moving average of $446.62 and a two-hundred day simple moving average of $423.02. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.88 and a quick ratio of 0.49. Casey’s General Stores, Inc. has a 1-year low of $313.89 and a 1-year high of $474.97. The stock has a market cap of $16.37 billion, a PE ratio of 30.73, a P/E/G ratio of 2.40 and a beta of 0.70.

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

Casey’s General Stores Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend was Thursday, May 1st. Casey’s General Stores’s payout ratio is 13.94%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CASY shares. Evercore ISI raised their price objective on shares of Casey’s General Stores from $450.00 to $460.00 and gave the stock an “outperform” rating in a research 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. Wall Street Zen cut shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a research report on Friday. Royal Bank of Canada set a $438.00 price objective on shares of Casey’s General Stores and gave the stock a “sector perform” rating in a research report on Wednesday, March 12th. Finally, KeyCorp started coverage on shares of Casey’s General Stores in a research report on Friday, April 11th. They set an “overweight” rating and a $500.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $430.33.

Casey’s General Stores 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.