2,073 Shares in Casey's General Stores, Inc. $CASY Purchased by Equitable Holdings Inc.

Key Points

• Equitable Holdings acquired 2,073 shares of Casey’s General Stores, valued at approximately $1.65 million, while institutional investors collectively own 85.63% of the company.
• Casey’s reported strong quarterly results, with EPS of $4.37 beating estimates by $1.06 and revenue rising 14.5% year over year to $4.57 billion.
• The company increased its quarterly dividend from $0.57 to $0.65 per share. Analysts maintain a “Moderate Buy” consensus with an average price target of $942.87, although company insiders sold more than $24 million in stock during the quarter.

Equitable Holdings Inc. acquired a new stake in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,073 shares of the company's stock, valued at approximately $1,648,000.

Several other large investors also recently added to or reduced their stakes in CASY. NewEdge Advisors LLC raised its stake in shares of Casey's General Stores by 6.4% during the first quarter. NewEdge Advisors LLC now owns 1,871 shares of the company's stock valued at $812,000 after acquiring an additional 113 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in Casey's General Stores by 129.6% in the first quarter. Geneos Wealth Management Inc. now owns 186 shares of the company's stock worth $81,000 after purchasing an additional 105 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Casey's General Stores by 431.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company's stock worth $111,000 after purchasing an additional 177 shares during the period. Amundi purchased a new position in Casey's General Stores during the 2nd quarter worth $338,000. Finally, Jump Financial LLC raised its position in Casey's General Stores by 42.6% during the 2nd quarter. Jump Financial LLC now owns 968 shares of the company's stock valued at $494,000 after purchasing an additional 289 shares in the last quarter. 85.63% of the stock is owned by hedge funds and other institutional investors.

Casey's General Stores Stock Down 1.0%

Shares of NASDAQ CASY opened at $755.47 on Friday. Casey's General Stores, Inc. has a 12-month low of $490.00 and a 12-month high of $927.85. The stock's fifty day simple moving average is $831.92 and its two-hundred day simple moving average is $781.32. The stock has a market capitalization of $27.96 billion, a PE ratio of 39.43, a price-to-earnings-growth ratio of 2.61 and a beta of 0.61. The company has a current ratio of 1.01, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, topping the consensus estimate of $3.31 by $1.06. Casey's General Stores had a return on equity of 18.73% and a net margin of 4.07%.The firm had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.33 billion. During the same period in the previous year, the company posted $2.63 EPS. The business's revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, analysts expect that Casey's General Stores, Inc. will post 21.11 EPS for the current fiscal year.

Casey's General Stores Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Saturday, August 1st were given a dividend of $0.65 per share. 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. This represents a $2.60 annualized dividend and a dividend yield of 0.3%. Casey's General Stores's payout ratio is currently 13.57%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. KeyCorp upped their target price on Casey's General Stores from $950.00 to $970.00 and gave the stock an "overweight" rating in a report on Thursday, June 11th. Zacks Research downgraded Casey's General Stores from a "strong-buy" rating to a "hold" rating in a report on Friday, June 5th. Capital One Financial initiated coverage on shares of Casey's General Stores in a research note on Monday, June 22nd. They issued an "equal weight" rating and a $896.00 price objective for the company. Wells Fargo & Company increased their target price on shares of Casey's General Stores from $910.00 to $960.00 and gave the stock an "overweight" rating in a report on Thursday, June 11th. Finally, Royal Bank Of Canada reissued 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. Fourteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $942.87.

Insider Buying and Selling at Casey's General Stores

In related news, insider Katrina S. Lindsey sold 2,000 shares of the business's stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $800.00, for a total transaction of $1,600,000.00. Following the completion of the transaction, the insider owned 6,668 shares in the company, valued at $5,334,400. The trade was a 23.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Darren M. Rebelez sold 19,000 shares of the stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $801.46, for a total transaction of $15,227,740.00. Following the sale, the chief executive officer directly owned 89,174 shares of the company's stock, valued at $71,469,394.04. The trade was a 17.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 30,243 shares of company stock valued at $24,421,877. 0.67% of the stock is currently owned by corporate insiders.

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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