Corient Private Wealth LP acquired a new position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 206,818 shares of the company’s stock, valued at approximately $164,376,000.
Several other institutional investors and hedge funds have also bought and sold shares of CASY. Fiduciary Financial Advisors acquired a new stake in Casey’s General Stores in the second quarter worth $26,000. Whipplewood Advisors LLC acquired a new position in shares of Casey’s General Stores during the first quarter valued at about $33,000. Bell Investment Advisors Inc bought a new position in shares of Casey’s General Stores during the 2nd quarter worth about $33,000. Larson Financial Group LLC boosted its position in shares of Casey’s General Stores by 252.4% during the 4th quarter. Larson Financial Group LLC now owns 74 shares of the company’s stock worth $41,000 after purchasing an additional 53 shares in the last quarter. Finally, RMG Wealth Management LLC grew its stake in shares of Casey’s General Stores by 250.0% in the 1st quarter. RMG Wealth Management LLC now owns 56 shares of the company’s stock valued at $41,000 after buying an additional 40 shares during the period. 85.63% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on the company. BMO Capital Markets raised Casey’s General Stores from a “market perform” rating to an “outperform” rating and set a $950.00 price target on the stock in a research note on Monday, June 29th. Weiss Ratings cut Casey’s General Stores from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, July 21st. Zacks Research downgraded Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $913.00 target price on shares of Casey’s General Stores in a research report on Wednesday, July 29th. Finally, Wolfe Research reissued an “outperform” rating and issued a $1,069.00 price target on shares of Casey’s General Stores in a research report on Thursday, June 11th. Fourteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $944.20.
Casey’s General Stores Trading Down 2.2%
CASY opened at $807.12 on Thursday. Casey’s General Stores, Inc. has a fifty-two week low of $490.00 and a fifty-two week high of $927.85. The firm has a market capitalization of $29.87 billion, a PE ratio of 42.13, a P/E/G ratio of 2.82 and a beta of 0.61. 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’s 50-day moving average is $835.23 and its 200 day moving average is $780.78.
Casey’s General Stores (NASDAQ:CASY – Get Free Report) last released its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.31 by $1.06. The business had revenue of $4.57 billion during 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 company’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.63 EPS. As a group, research analysts predict that Casey’s General Stores, Inc. will post 21.11 earnings per share for the current fiscal year.
Casey’s General Stores Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Saturday, August 1st were given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Friday, July 31st. This is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.57. Casey’s General Stores’s payout ratio is currently 13.57%.
Insider Buying and Selling
In related news, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $838.16, for a total transaction of $4,777,512.00. Following the completion of the sale, the chief financial officer directly owned 29,677 shares of the company’s stock, valued at approximately $24,874,074.32. This trade represents a 16.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Chad Michael Frazell sold 3,013 shares of the firm’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $787.49, for a total value of $2,372,707.37. Following the sale, the insider directly owned 9,823 shares of the company’s stock, valued at approximately $7,735,514.27. This represents a 23.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 30,243 shares of company stock valued at $24,421,877 over the last quarter. Corporate 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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