8,180 Shares in Casey's General Stores, Inc. $CASY Acquired by AssuredPartners Investment Advisors LLC

Key Points

• AssuredPartners Investment Advisors acquired 8,180 Casey’s General Stores shares worth approximately $6.5 million in the second quarter. Institutional investors collectively own 85.63% of the company.
• Analysts maintain a favorable outlook, with 14 Buy ratings and six Holds resulting in a “Moderate Buy” consensus and an average price target of $944.20.
• Casey’s reported quarterly EPS of $4.37, exceeding estimates by $1.06, while revenue rose 14.5% year over year to $4.57 billion. The company also increased its quarterly dividend to $0.65 per share, although executives sold shares in recent transactions.

AssuredPartners Investment Advisors LLC bought a new position in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,180 shares of the company's stock, valued at approximately $6,501,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Whipplewood Advisors LLC bought a new stake in Casey's General Stores during the first quarter worth approximately $33,000. Bell Investment Advisors Inc acquired a new position in shares of Casey's General Stores during the 2nd quarter valued at $33,000. Larson Financial Group LLC raised its stake in shares of Casey's General Stores by 252.4% in the 4th quarter. Larson Financial Group LLC now owns 74 shares of the company's stock worth $41,000 after buying an additional 53 shares in the last quarter. RMG Wealth Management LLC raised 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 worth $41,000 after buying an additional 40 shares in the last quarter. Finally, Elyxium Wealth LLC acquired a new stake in shares of Casey's General Stores in the fourth quarter valued at $43,000. Institutional investors own 85.63% of the company's stock.

Analyst Ratings Changes

CASY has been the subject of several research reports. 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 note on Wednesday, July 29th. Wells Fargo & Company raised their price objective on shares of Casey's General Stores from $910.00 to $960.00 and gave the company an "overweight" rating in a research report on Thursday, June 11th. KeyCorp raised their price objective on shares of Casey's General Stores from $950.00 to $970.00 and gave the company an "overweight" rating in a research report on Thursday, June 11th. BNP Paribas Exane lowered their price objective on shares of Casey's General Stores from $1,032.00 to $995.00 and set an "outperform" rating on the stock in a research note on Thursday, June 25th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $1,000.00 target price on shares of Casey's General Stores in a report on Monday, June 15th. Fourteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $944.20.

Casey's General Stores Trading Down 2.2%

Shares of NASDAQ:CASY opened at $836.15 on Thursday. The firm has a market capitalization of $30.95 billion, a P/E ratio of 43.64, a price-to-earnings-growth ratio of 2.56 and a beta of 0.61. Casey's General Stores, Inc. has a 12-month low of $490.00 and a 12-month high of $927.85. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. The firm has a fifty day moving average of $840.22 and a two-hundred day moving average of $773.90.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its earnings results on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, beating analysts' consensus estimates of $3.31 by $1.06. The firm had revenue of $4.57 billion for 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 business's quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.63 earnings per share. On average, equities analysts expect that Casey's General Stores, Inc. will post 21.14 EPS for the current fiscal year.

Casey's General Stores Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Saturday, August 1st were given a $0.65 dividend. 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 dividend yield of 0.3%. The ex-dividend date of this dividend was Friday, July 31st. Casey's General Stores's payout ratio is presently 13.57%.

Insider Buying and Selling

In other news, insider Katrina S. Lindsey sold 2,000 shares of the business's stock in a transaction on Monday, June 29th. The shares were 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 approximately $5,334,400. The trade was a 23.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Darren M. Rebelez sold 19,000 shares of the firm's stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $801.46, for a total value of $15,227,740.00. Following the completion of the sale, the chief executive officer directly owned 89,174 shares in the company, valued at approximately $71,469,394.04. This represents a 17.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 30,243 shares of company stock valued at $24,421,877. 0.67% of the stock is 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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