Ascentis Independent Advisors Acquires 1,311 Shares of Casey's General Stores, Inc. $CASY

Key Points

• Ascentis Independent Advisors increased its stake in Casey's General Stores by 183.4% in the first quarter, buying 1,311 additional shares for a total of 2,026 shares valued at about $1.48 million.
• Casey's reported strong quarterly results, with EPS of $4.37 beating estimates and revenue of $4.57 billion topping forecasts; revenue rose 14.5% year over year.
• The company also raised its quarterly dividend to $0.65 per share from $0.57, while analysts currently rate the stock a Moderate Buy with a consensus price target of $939.29.

Ascentis Independent Advisors boosted its stake in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 183.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,026 shares of the company's stock after buying an additional 1,311 shares during the quarter. Ascentis Independent Advisors' holdings in Casey's General Stores were worth $1,475,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. True Wealth Design LLC grew its stake in Casey's General Stores by 350.0% in the 4th quarter. True Wealth Design LLC now owns 54 shares of the company's stock valued at $30,000 after purchasing an additional 42 shares during the period. Central Pacific Bank Trust Division grew its position in shares of Casey's General Stores by 52.8% during the 4th quarter. Central Pacific Bank Trust Division now owns 55 shares of the company's stock valued at $30,000 after acquiring an additional 19 shares during the period. Vermillion & White Wealth Management Group LLC bought a new position in shares of Casey's General Stores during the 3rd quarter valued at approximately $35,000. ORG Partners LLC increased its stake in shares of Casey's General Stores by 47.6% during the 4th quarter. ORG Partners LLC now owns 62 shares of the company's stock worth $34,000 after purchasing an additional 20 shares during the last quarter. Finally, Western Pacific Wealth Management LP purchased a new position in Casey's General Stores in the first quarter valued at approximately $52,000. 85.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CASY shares. The Goldman Sachs Group increased their price target on Casey's General Stores from $695.00 to $795.00 and gave the stock a "neutral" rating in a research note on Thursday, June 25th. Stephens set a $975.00 price target on shares of Casey's General Stores and gave the company an "overweight" rating in a research note on Friday, June 12th. BNP Paribas Exane cut their price objective on shares of Casey's General Stores from $1,032.00 to $995.00 and set an "outperform" rating for the company in a report on Thursday, June 25th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Casey's General Stores in a report on Wednesday, June 24th. Finally, Jefferies Financial Group increased their price objective on Casey's General Stores from $700.00 to $780.00 and gave the stock a "buy" rating in a report on Tuesday, March 10th. Thirteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $939.29.

Casey's General Stores Stock Up 1.2%

CASY opened at $807.18 on Tuesday. 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, Inc. has a 12 month low of $490.00 and a 12 month high of $927.85. The company has a market cap of $29.87 billion, a P/E ratio of 42.13, a P/E/G ratio of 2.40 and a beta of 0.62. The business's 50-day moving average price is $821.26 and its 200-day moving average price is $715.80.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.31 by $1.06. The company had revenue of $4.57 billion for the quarter, compared to analysts' expectations of $4.33 billion. Casey's General Stores had a return on equity of 18.73% and a net margin of 4.07%.Casey's General Stores's quarterly revenue was up 14.5% on a year-over-year basis. During the same period last year, the firm earned $2.63 earnings per share. On average, equities analysts expect that Casey's General Stores, Inc. will post 21.05 EPS for the current year.

Casey's General Stores Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Saturday, August 1st will be paid a dividend of $0.65 per share. The ex-dividend date is Friday, July 31st. This represents a $2.60 annualized dividend and a yield of 0.3%. This is a positive change from Casey's General Stores's previous quarterly dividend of $0.57. Casey's General Stores's dividend payout ratio (DPR) is 11.90%.

Insider Activity

In related news, Director Mike Spanos acquired 256 shares of the stock in a transaction that occurred on Friday, June 26th. The shares were bought at an average price of $778.81 per share, for a total transaction of $199,375.36. Following the completion of the transaction, the director directly owned 4,758 shares in the company, valued at approximately $3,705,577.98. This trade represents a 5.69% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Katrina S. Lindsey sold 2,000 shares of the firm's stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $800.00, for a total value of $1,600,000.00. Following the completion of the transaction, the insider directly owned 6,668 shares in the company, valued at $5,334,400. The trade was a 23.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.54% of the company's stock.

Casey's General Stores Company 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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