UNIVEST FINANCIAL Corp acquired a new position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY – Free Report) in the 2nd quarter, HoldingsChannel reports. The firm acquired 9,834 shares of the company’s stock, valued at approximately $7,816,000.
Several other hedge funds also recently modified their holdings of CASY. Bell Investment Advisors Inc acquired a new position in shares of Casey’s General Stores in the 2nd quarter worth approximately $33,000. Whipplewood Advisors LLC acquired a new stake in Casey’s General Stores during the 1st quarter valued at $33,000. RMG Wealth Management LLC increased its holdings in Casey’s General Stores by 250.0% during the 1st quarter. RMG Wealth Management LLC now owns 56 shares of the company’s stock valued at $41,000 after purchasing an additional 40 shares in the last quarter. Western Pacific Wealth Management LP bought a new position in Casey’s General Stores in the 1st quarter valued at $52,000. Finally, Larson Financial Group LLC raised its position in Casey’s General Stores by 252.4% in the 4th quarter. Larson Financial Group LLC now owns 74 shares of the company’s stock valued at $41,000 after purchasing an additional 53 shares during the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have commented on CASY. Royal Bank Of Canada reissued a “sector perform” rating and issued a $913.00 price objective on shares of Casey’s General Stores in a research note on Wednesday, July 29th. Wolfe Research restated an “outperform” rating and issued a $1,069.00 target price on shares of Casey’s General Stores in a research note on Thursday, June 11th. Wall Street Zen raised Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Stephens set a $975.00 price target on shares of Casey’s General Stores and gave the stock an “overweight” rating in a research report on Friday, June 12th. Finally, KeyCorp increased their price objective on shares of Casey’s General Stores from $950.00 to $970.00 and gave the stock an “overweight” rating in a report on Thursday, June 11th. Fourteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $944.20.
Casey’s General Stores Stock Performance
CASY stock opened at $870.01 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.60. The company has a 50 day moving average price of $839.94 and a 200 day moving average price of $770.63. Casey’s General Stores, Inc. has a fifty-two week low of $490.00 and a fifty-two week high of $927.85. The stock has a market capitalization of $32.20 billion, a PE ratio of 45.41, a price-to-earnings-growth ratio of 2.54 and a beta of 0.61.
Casey’s General Stores (NASDAQ:CASY – Get Free Report) last posted its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.31 by $1.06. The firm had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.33 billion. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.63 EPS. Analysts forecast that Casey’s General Stores, Inc. will post 21.14 EPS for the current year.
Casey’s General Stores Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Saturday, August 1st were given a dividend of $0.65 per share. The ex-dividend date was Friday, July 31st. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.57. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.3%. Casey’s General Stores’s dividend payout ratio is presently 13.57%.
Insider Buying and Selling at Casey’s General Stores
In related news, CEO Darren M. Rebelez sold 19,000 shares of Casey’s General Stores stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $801.46, for a total value of $15,227,740.00. Following the completion of the sale, the chief executive officer directly owned 89,174 shares in the company, valued at $71,469,394.04. This trade represents a 17.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the business’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $838.16, for a total value of $4,777,512.00. Following the sale, the chief financial officer directly owned 29,677 shares of the company’s stock, valued at $24,874,074.32. This represents a 16.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 30,243 shares of company stock valued at $24,421,877 over the last ninety days. Company insiders own 0.67% of the company’s stock.
Casey’s General Stores Profile
Casey’s General Stores, Inc (NASDAQ: CASY) is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.
The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.
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