504 Shares in Casey's General Stores, Inc. $CASY Acquired by M3 Advisory Group LLC

Key Points

• M3 Advisory Group LLC acquired 504 shares of Casey's General Stores, Inc. (NASDAQ:CASY), valued at approximately $257,000, in the second quarter, indicating strong interest from institutional investors.
• Casey's reported $5.77 earnings per share (EPS) for the quarter, surpassing estimates by $0.75, with revenue reaching $4.57 billion, a year-over-year increase of 11.5%.
• The company declared a quarterly dividend of $0.57, representing an annualized dividend yield of 0.4%, with a relatively low payout ratio of 14.63%.

M3 Advisory Group LLC 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 13F filing with the Securities and Exchange Commission. The fund acquired 504 shares of the company's stock, valued at approximately $257,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Summit Securities Group LLC bought a new stake in Casey's General Stores in the first quarter valued at $32,000. Iron Horse Wealth Management LLC increased its holdings in shares of Casey's General Stores by 40.0% in the 1st quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company's stock worth $40,000 after acquiring an additional 26 shares during the period. WPG Advisers LLC bought a new stake in Casey's General Stores in the 1st quarter valued at about $47,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Casey's General Stores by 242.9% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 96 shares of the company's stock valued at $49,000 after purchasing an additional 68 shares during the period. Finally, Wayfinding Financial LLC acquired a new position in Casey's General Stores during the 1st quarter valued at about $59,000. 85.63% of the stock is owned by institutional investors and hedge funds.

Casey's General Stores Trading Up 0.8%

NASDAQ:CASY opened at $556.67 on Monday. The stock has a fifty day simple moving average of $529.63 and a 200 day simple moving average of $494.15. The firm has a market capitalization of $20.70 billion, a price-to-earnings ratio of 35.73 and a beta of 0.68. The company has a quick ratio of 0.61, a current ratio of 1.03 and a debt-to-equity ratio of 0.65. Casey's General Stores, Inc. has a 1-year low of $372.08 and a 1-year high of $571.57.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its earnings results on Monday, September 8th. The company reported $5.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.02 by $0.75. The company had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.47 billion. Casey's General Stores had a net margin of 3.54% and a return on equity of 16.73%. The company's revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the business earned $4.83 EPS. Sell-side analysts forecast that Casey's General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey's General Stores Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Saturday, November 1st will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, October 31st. Casey's General Stores's dividend payout ratio is 14.63%.

Insider Activity at Casey's General Stores

In related news, insider Chad Michael Frazell sold 3,487 shares of the firm's stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $555.40, for a total transaction of $1,936,679.80. Following the completion of the sale, the insider directly owned 7,993 shares in the company, valued at approximately $4,439,312.20. This trade represents a 30.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.54% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CASY. Stephens reaffirmed an "overweight" rating and set a $570.00 price target on shares of Casey's General Stores in a report on Wednesday, October 8th. BMO Capital Markets lifted their target price on Casey's General Stores from $515.00 to $540.00 and gave the company a "market perform" rating in a research note on Wednesday, September 10th. Wells Fargo & Company increased their price target on Casey's General Stores from $540.00 to $580.00 and gave the stock an "overweight" rating in a research note on Monday, September 8th. Evercore ISI lifted their price objective on shares of Casey's General Stores from $560.00 to $580.00 and gave the company an "outperform" rating in a research note on Wednesday, September 10th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Casey's General Stores in a research report on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $533.10.

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.

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