Redhawk Wealth Advisors Inc. bought a new stake in Casey’s General Stores, Inc. (NASDAQ:CASY – Free Report) during the second quarter, Holdings Channel reports. The fund bought 2,239 shares of the company’s stock, valued at approximately $1,780,000.
A number of other institutional investors have also recently added to or reduced their stakes in CASY. First Bank & Trust raised its holdings in shares of Casey’s General Stores by 6.0% in the 2nd quarter. First Bank & Trust now owns 1,476 shares of the company’s stock worth $1,173,000 after purchasing an additional 83 shares during the period. Contravisory Investment Management Inc. raised its holdings in Casey’s General Stores by 2,431.2% in the second quarter. Contravisory Investment Management Inc. now owns 1,215 shares of the company’s stock valued at $966,000 after buying an additional 1,167 shares during the period. Everhart Financial Group Inc. lifted its position in Casey’s General Stores by 14.0% during the second quarter. Everhart Financial Group Inc. now owns 366 shares of the company’s stock valued at $291,000 after buying an additional 45 shares in the last quarter. Valeo Financial Advisors LLC lifted its position in Casey’s General Stores by 20.9% during the second quarter. Valeo Financial Advisors LLC now owns 566 shares of the company’s stock valued at $450,000 after buying an additional 98 shares in the last quarter. Finally, Czech National Bank purchased a new stake in Casey’s General Stores during the second quarter worth approximately $8,361,000. Hedge funds and other institutional investors own 85.63% of the company’s stock.
Insider Activity at Casey’s General Stores
In related news, insider Chad Michael Frazell sold 3,013 shares of the company’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $787.49, for a total transaction of $2,372,707.37. Following the completion of the transaction, the insider directly owned 9,823 shares in the company, valued at $7,735,514.27. This represents a 23.47% decrease in their position. The sale 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 stock in a transaction on Monday, June 29th. The stock was sold at an average price of $800.00, for a total value of $1,600,000.00. Following the completion of the sale, the insider directly owned 6,668 shares in the company, valued at $5,334,400. This represents a 23.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 30,243 shares of company stock valued at $24,421,877. 0.67% of the stock is owned by insiders.
Casey’s General Stores Stock Performance
Casey’s General Stores (NASDAQ:CASY – Get Free Report) last posted its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.31 by $1.06. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. The company had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.33 billion. During the same period last year, the firm posted $2.63 EPS. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. Research analysts expect that Casey’s General Stores, Inc. will post 21.14 earnings per share for the current year.
Casey’s General Stores Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Saturday, August 1st will be paid a $0.65 dividend. The ex-dividend date is 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 yield of 0.3%. Casey’s General Stores’s payout ratio is presently 13.57%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on the stock. Evercore reissued an “outperform” rating and issued a $990.00 price objective on shares of Casey’s General Stores in a research report on Friday, June 12th. Wall Street Zen upgraded shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Wolfe Research reaffirmed an “outperform” rating and set a $1,069.00 price target on shares of Casey’s General Stores in a research report on Thursday, June 11th. KeyCorp increased their price target on Casey’s General Stores from $950.00 to $970.00 and gave the company an “overweight” rating in a report on Thursday, June 11th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $1,000.00 price objective on shares of Casey’s General Stores in a research report on Monday, June 15th. Fourteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Casey’s General Stores presently has a consensus rating of “Moderate Buy” and an average target price of $944.20.
Check Out Our Latest Stock Analysis on Casey’s General Stores
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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