Brookwood Investment Group LLC Invests $570,000 in Casey's General Stores, Inc. (NASDAQ:CASY)

Key Points

• Brookwood Investment Group LLC has acquired a new stake in Casey's General Stores, investing approximately $570,000 for 1,314 shares in the first quarter.
• Casey's General Stores reported earnings per share (EPS) of $2.63 for the quarter, exceeding the consensus estimate of $1.94, with a 10.9% year-over-year revenue increase.
• The company has announced an increase in its quarterly dividend from $0.50 to $0.57, reflecting a yield of 0.43%, with payment scheduled for August 15th.

Brookwood Investment Group LLC acquired a new stake in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,314 shares of the company's stock, valued at approximately $570,000.

Several other institutional investors have also made changes to their positions in the stock. Natixis lifted its stake in shares of Casey's General Stores by 21.9% in the 4th quarter. Natixis now owns 8,337 shares of the company's stock valued at $3,303,000 after acquiring an additional 1,499 shares during the last quarter. Scholtz & Company LLC bought a new position in Casey's General Stores in the fourth quarter valued at about $2,375,000. CenterBook Partners LP bought a new position in Casey's General Stores in the fourth quarter valued at about $1,079,000. Integrated Wealth Concepts LLC raised its holdings in Casey's General Stores by 50.2% in the 4th quarter. Integrated Wealth Concepts LLC now owns 2,592 shares of the company's stock valued at $1,027,000 after buying an additional 866 shares during the last quarter. Finally, Security National Bank raised its stake in shares of Casey's General Stores by 9.7% during the first quarter. Security National Bank now owns 5,674 shares of the company's stock valued at $2,463,000 after acquiring an additional 504 shares during the last quarter. 85.63% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Katrina S. Lindsey sold 2,000 shares of the firm's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $506.07, for a total value of $1,012,140.00. Following the completion of the sale, the insider owned 4,636 shares of the company's stock, valued at $2,346,140.52. This trade represents a 30.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Stephen P. Bramlage, Jr. sold 760 shares of the firm's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $507.56, for a total value of $385,745.60. Following the completion of the transaction, the chief financial officer owned 25,994 shares of the company's stock, valued at $13,193,514.64. This trade represents a 2.84% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,646 shares of company stock worth $22,136,614. 0.56% of the stock is owned by company insiders.

Casey's General Stores Stock Performance

CASY traded up $1.45 during midday trading on Friday, reaching $527.51. The company had a trading volume of 280,314 shares, compared to its average volume of 291,770. The company has a quick ratio of 0.48, a current ratio of 0.92 and a debt-to-equity ratio of 0.69. The business has a 50-day moving average of $491.40 and a two-hundred day moving average of $447.80. The company has a market cap of $19.61 billion, a P/E ratio of 36.03 and a beta of 0.69. Casey's General Stores, Inc. has a 1 year low of $350.52 and a 1 year high of $531.24.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its earnings results on Monday, June 9th. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.69. The firm had revenue of $3.99 billion during the quarter, compared to analysts' expectations of $3.95 billion. Casey's General Stores had a return on equity of 16.28% and a net margin of 3.43%. The firm's revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the business posted $2.34 earnings per share. As a group, equities research analysts predict that Casey's General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey's General Stores Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 0.43%. This is a boost from Casey's General Stores's previous quarterly dividend of $0.50. The ex-dividend date is Friday, August 1st. Casey's General Stores's payout ratio is 15.57%.

Analyst Ratings Changes

A number of brokerages have commented on CASY. The Goldman Sachs Group upped their price target on shares of Casey's General Stores from $385.00 to $450.00 and gave the company a "neutral" rating in a research report on Wednesday, June 11th. Stephens reissued an "overweight" rating and set a $490.00 price objective on shares of Casey's General Stores in a report on Tuesday, June 10th. KeyCorp upped their price target on Casey's General Stores from $550.00 to $575.00 and gave the stock an "overweight" rating in a report on Friday. Wells Fargo & Company upped their target price on shares of Casey's General Stores from $460.00 to $540.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 11th. Finally, Evercore ISI upped their price objective on shares of Casey's General Stores from $450.00 to $460.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $467.33.

Casey's General Stores Company Profile

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.