Sunbelt Securities Inc. Has $705,000 Stake in Casey’s General Stores, Inc. (NASDAQ:CASY)

Sunbelt Securities Inc. lifted its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 13.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,849 shares of the company’s stock after purchasing an additional 224 shares during the period. Sunbelt Securities Inc.’s holdings in Casey’s General Stores were worth $705,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Park Place Capital Corp acquired a new position in Casey’s General Stores in the second quarter valued at approximately $31,000. Innealta Capital LLC acquired a new position in Casey’s General Stores in the second quarter valued at approximately $32,000. Rise Advisors LLC acquired a new position in Casey’s General Stores in the first quarter valued at approximately $30,000. Advisors Asset Management Inc. acquired a new position in Casey’s General Stores in the first quarter valued at approximately $32,000. Finally, Bank & Trust Co acquired a new position in Casey’s General Stores in the second quarter valued at approximately $40,000. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Casey’s General Stores Trading Up 0.6 %

Shares of NASDAQ:CASY opened at $375.71 on Tuesday. Casey’s General Stores, Inc. has a 12 month low of $260.13 and a 12 month high of $401.07. The company has a quick ratio of 0.44, a current ratio of 0.84 and a debt-to-equity ratio of 0.44. The company’s fifty day simple moving average is $373.70 and its 200 day simple moving average is $351.20. The firm has a market cap of $13.94 billion, a price-to-earnings ratio of 27.98 and a beta of 0.80.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Wednesday, September 4th. The company reported $4.83 EPS for the quarter, topping analysts’ consensus estimates of $4.54 by $0.29. Casey’s General Stores had a net margin of 3.40% and a return on equity of 17.07%. The business had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same period last year, the business posted $4.52 earnings per share. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. As a group, research analysts forecast that Casey’s General Stores, Inc. will post 14.01 EPS for the current fiscal year.

Casey’s General Stores Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a $0.50 dividend. The ex-dividend date is Friday, November 1st. This represents a $2.00 annualized dividend and a yield of 0.53%. Casey’s General Stores’s payout ratio is currently 14.89%.

Insider Buying and Selling at Casey’s General Stores

In other Casey’s General Stores news, CEO Darren M. Rebelez sold 13,500 shares of Casey’s General Stores stock in a transaction on Friday, September 6th. The shares were sold at an average price of $374.54, for a total value of $5,056,290.00. Following the sale, the chief executive officer now directly owns 73,838 shares in the company, valued at approximately $27,655,284.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Casey’s General Stores news, CEO Darren M. Rebelez sold 13,500 shares of Casey’s General Stores stock in a transaction on Friday, September 6th. The shares were sold at an average price of $374.54, for a total value of $5,056,290.00. Following the sale, the chief executive officer now directly owns 73,838 shares in the company, valued at approximately $27,655,284.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas P. Brennan, Jr. sold 3,000 shares of Casey’s General Stores stock in a transaction on Friday, September 6th. The shares were sold at an average price of $380.24, for a total transaction of $1,140,720.00. Following the completion of the sale, the insider now owns 9,044 shares in the company, valued at $3,438,890.56. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CASY shares. Benchmark restated a “buy” rating and issued a $410.00 price objective on shares of Casey’s General Stores in a report on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Casey’s General Stores from $420.00 to $444.00 and gave the company a “buy” rating in a report on Monday, July 29th. Wells Fargo & Company increased their target price on shares of Casey’s General Stores from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. JPMorgan Chase & Co. lowered shares of Casey’s General Stores from a “neutral” rating to an “underweight” rating and increased their target price for the stock from $300.00 to $337.00 in a report on Thursday, September 19th. Finally, Northcoast Research upgraded shares of Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $410.00 target price on the stock in a report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $407.64.

Casey’s General Stores Profile

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. Its stores offer pizza, donuts, breakfast items, and sandwiches; and tobacco and nicotine products. The company's stores provide soft drinks, energy, water, sports drinks, juices, coffee, and tea and dairy products; beer, wine, and spirits; snacks, candy, packaged bakery, and other food items; ice, ice cream, meals, and appetizers; health and beauty aids, automotive products, electronic accessories, housewares, and pet supplies; and ATM, lotto/lottery, and prepaid cards.