Atria Wealth Solutions Inc. Raises Stake in Casey's General Stores, Inc. (NASDAQ:CASY)

Key Points

• Atria Wealth Solutions Inc. increased its stake in Casey's General Stores by 10.6%, owning 9,733 shares valuing approximately $4.2 million as of the latest SEC filing.
• Insider transactions included Katrina S. Lindsey and Chad Michael Frazell selling significant shares, with Lindsey's sale reducing her ownership by 30.14% and Frazell's by 29.52%.
• Casey's General Stores reported a strong performance with $2.63 EPS for the latest quarter, exceeding expectations and reflecting a year-over-year revenue increase of 10.9%.

Atria Wealth Solutions Inc. increased its holdings in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 10.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,733 shares of the company's stock after purchasing an additional 930 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Casey's General Stores were worth $4,225,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Flagship Harbor Advisors LLC increased its position in shares of Casey's General Stores by 4.1% in the first quarter. Flagship Harbor Advisors LLC now owns 590 shares of the company's stock worth $256,000 after acquiring an additional 23 shares in the last quarter. Burns J W & Co. Inc. NY increased its holdings in Casey's General Stores by 2.1% in the 1st quarter. Burns J W & Co. Inc. NY now owns 1,204 shares of the company's stock valued at $522,000 after purchasing an additional 25 shares in the last quarter. Sunbelt Securities Inc. increased its holdings in Casey's General Stores by 1.4% in the 1st quarter. Sunbelt Securities Inc. now owns 1,870 shares of the company's stock valued at $812,000 after purchasing an additional 26 shares in the last quarter. Iron Horse Wealth Management LLC raised its position in Casey's General Stores by 40.0% in the first quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company's stock valued at $40,000 after purchasing an additional 26 shares during the period. Finally, Menard Financial Group LLC raised its position in Casey's General Stores by 2.1% in the first quarter. Menard Financial Group LLC now owns 1,290 shares of the company's stock valued at $603,000 after purchasing an additional 27 shares during the period. Hedge funds and other institutional investors own 85.63% of the company's stock.

Insider Buying and Selling

In other Casey's General Stores news, insider Katrina S. Lindsey sold 2,000 shares of Casey's General Stores stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $506.07, for a total value of $1,012,140.00. Following the completion of the transaction, the insider owned 4,636 shares of the company's stock, valued at $2,346,140.52. The trade was a 30.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Chad Michael Frazell sold 4,808 shares of the business's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $503.97, for a total transaction of $2,423,087.76. Following the sale, the insider owned 11,480 shares of the company's stock, valued at approximately $5,785,575.60. The trade was a 29.52% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,646 shares of company stock worth $22,136,614. 0.54% of the stock is currently owned by insiders.

Casey's General Stores Trading Down 0.6%

NASDAQ CASY opened at $518.28 on Friday. The company has a market capitalization of $19.27 billion, a price-to-earnings ratio of 35.40 and a beta of 0.69. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.92 and a quick ratio of 0.48. Casey's General Stores, Inc. has a 12 month low of $350.52 and a 12 month high of $531.24. The company's fifty day moving average price is $504.53 and its two-hundred day moving average price is $455.89.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its earnings results on Monday, June 9th. The company reported $2.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.94 by $0.69. The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.95 billion. Casey's General Stores had a net margin of 3.43% and a return on equity of 16.28%. The company's revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.34 EPS. As a group, 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 company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, August 1st. This represents a $2.28 dividend on an annualized basis and a yield of 0.4%. This is a boost from Casey's General Stores's previous quarterly dividend of $0.50. Casey's General Stores's dividend payout ratio (DPR) is 15.57%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CASY shares. Royal Bank Of Canada upped their target price on Casey's General Stores from $468.00 to $542.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 9th. KeyCorp boosted their price target on Casey's General Stores from $550.00 to $575.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. The Goldman Sachs Group increased their price objective 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. Wall Street Zen raised shares of Casey's General Stores from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Finally, Stephens restated an "overweight" rating and issued a $490.00 target price on shares of Casey's General Stores in a research note on Tuesday, June 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Casey's General Stores currently has a consensus rating of "Moderate Buy" and an average target price of $467.33.

About Casey's General Stores

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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