Bellwether Advisors LLC Buys Shares of 2,148 Casey's General Stores, Inc. $CASY

Key Points

• Bellwether Advisors LLC opened a new position in Casey’s General Stores, buying 2,148 shares valued at about $1.56 million in the first quarter.
• Casey’s reported strong quarterly results, with EPS of $4.37 beating estimates and revenue of $4.57 billion, up 14.5% year over year.
• The company raised its quarterly dividend to $0.65 per share, while analysts remain largely positive with a Moderate Buy consensus and an average price target of $940.

Bellwether Advisors LLC purchased a new position in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 2,148 shares of the company's stock, valued at approximately $1,563,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. NewEdge Advisors LLC lifted its holdings in Casey's General Stores by 6.4% in the first quarter. NewEdge Advisors LLC now owns 1,871 shares of the company's stock valued at $812,000 after buying an additional 113 shares during the period. Geneos Wealth Management Inc. grew its holdings in Casey's General Stores by 129.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 186 shares of the company's stock worth $81,000 after acquiring an additional 105 shares during the period. EverSource Wealth Advisors LLC grew 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 acquiring an additional 177 shares during the period. Amundi bought a new stake in shares of Casey's General Stores during the 2nd quarter valued at $338,000. Finally, Jump Financial LLC lifted its stake in shares of Casey's General Stores by 42.6% in 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 during the period. 85.63% of the stock is owned by institutional investors.

Analyst Ratings Changes

CASY has been the topic of several recent research reports. Wolfe Research restated an "outperform" rating and issued a $1,069.00 price target on shares of Casey's General Stores in a research report on Thursday, June 11th. Stephens set a $975.00 target price on Casey's General Stores and gave the company an "overweight" rating in a research note on Friday, June 12th. Wells Fargo & Company raised their target price on Casey's General Stores from $910.00 to $960.00 and gave the stock an "overweight" rating in a report on Thursday, June 11th. Wall Street Zen raised Casey's General Stores from a "hold" rating to a "buy" rating in a research note on Saturday, June 13th. Finally, BMO Capital Markets upgraded shares of Casey's General Stores from a "market perform" rating to an "outperform" rating and set a $950.00 price target on the stock in a research report on Monday, June 29th. Fourteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $940.00.

Casey's General Stores Stock Performance

CASY stock opened at $858.26 on Wednesday. The business's 50-day moving average price is $822.17 and its two-hundred day moving average price is $737.11. The company has a current ratio of 1.01, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59. The firm has a market cap of $31.76 billion, a PE ratio of 44.79, a P/E/G ratio of 2.60 and a beta of 0.62. Casey's General Stores, Inc. has a 1-year low of $490.00 and a 1-year high of $927.85.

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, beating analysts' consensus estimates of $3.31 by $1.06. The firm had revenue of $4.57 billion during 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%.The company's revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.63 earnings per share. As a group, research analysts forecast that Casey's General Stores, Inc. will post 21.14 earnings per share 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. Investors of record on Saturday, August 1st will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Friday, July 31st. 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 currently 11.90%.

Insider Buying and Selling at Casey's General Stores

In other news, CEO Darren M. Rebelez sold 19,000 shares of the company's stock in a transaction that occurred on 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 transaction, the chief executive officer owned 89,174 shares in the company, valued at $71,469,394.04. This represents a 17.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Katrina S. Lindsey sold 2,000 shares of the company'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 of the company's stock, valued at $5,334,400. This trade represents a 23.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 30,243 shares of company stock worth $24,421,877 in the last quarter. Company insiders own 0.54% of the company's stock.

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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