LPL Financial LLC Acquires 10,853 Shares of Casey's General Stores, Inc. (NASDAQ:CASY)

LPL Financial LLC lifted its stake in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 15.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 79,483 shares of the company's stock after acquiring an additional 10,853 shares during the period. LPL Financial LLC owned 0.21% of Casey's General Stores worth $31,459,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Raymond James Financial Inc. bought a new position in shares of Casey's General Stores during the 4th quarter worth about $236,500,000. Franklin Resources Inc. boosted its holdings in Casey's General Stores by 49.9% in the third quarter. Franklin Resources Inc. now owns 524,237 shares of the company's stock worth $204,861,000 after acquiring an additional 174,586 shares in the last quarter. Benjamin Edwards Inc. grew its stake in Casey's General Stores by 1,819.1% in the third quarter. Benjamin Edwards Inc. now owns 130,291 shares of the company's stock valued at $48,959,000 after acquiring an additional 123,502 shares during the period. Wellington Management Group LLP increased its holdings in shares of Casey's General Stores by 281.4% during the third quarter. Wellington Management Group LLP now owns 164,656 shares of the company's stock valued at $61,863,000 after acquiring an additional 121,488 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of 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 period. 85.63% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

CASY has been the subject of a number of recent research reports. Royal Bank of Canada set a $438.00 price target on shares of Casey's General Stores and gave the company a "sector perform" rating in a research note on Wednesday, March 12th. Evercore ISI upped their target price on shares of Casey's General Stores from $450.00 to $460.00 and gave the stock an "outperform" rating in a report on Tuesday. Gordon Haskett upgraded Casey's General Stores from a "hold" rating to a "buy" rating in a research note on Thursday, February 13th. BMO Capital Markets reissued a "market perform" rating and set a $450.00 price objective (up from $400.00) on shares of Casey's General Stores in a report on Wednesday, December 18th. Finally, StockNews.com lowered Casey's General Stores from a "buy" rating to a "hold" rating in a report on Saturday, March 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $424.00.

Insider Activity at Casey's General Stores

In other news, Director Mike Spanos bought 256 shares of the stock in a transaction on Thursday, March 13th. The shares were purchased at an average cost of $390.54 per share, for a total transaction of $99,978.24. Following the completion of the purchase, the director now directly owns 3,356 shares in the company, valued at $1,310,652.24. This represents a 8.26 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.56% of the stock is owned by company insiders.

Casey's General Stores Stock Performance

CASY stock traded up $5.29 during midday trading on Thursday, hitting $449.17. The company's stock had a trading volume of 663,943 shares, compared to its average volume of 277,238. The stock has a market cap of $16.67 billion, a price-to-earnings ratio of 31.30, a PEG ratio of 2.40 and a beta of 0.87. The company has a quick ratio of 0.49, a current ratio of 0.88 and a debt-to-equity ratio of 0.74. The stock's 50-day moving average price is $416.64 and its 200 day moving average price is $404.57. Casey's General Stores, Inc. has a 1 year low of $306.45 and a 1 year high of $458.92.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its quarterly earnings results on Tuesday, March 11th. The company reported $2.33 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.74 billion. During the same period in the previous year, the firm earned $2.33 EPS. The firm's quarterly revenue was up 17.2% on a year-over-year basis. On average, equities analysts forecast that Casey's General Stores, Inc. will post 13.94 EPS 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. Investors of record on Thursday, May 1st will be issued a $0.50 dividend. The ex-dividend date is Thursday, May 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.45%. Casey's General Stores's dividend payout ratio (DPR) is presently 13.94%.

About Casey's General Stores

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.