Benjamin Edwards Inc. Has $56.48 Million Stake in Casey's General Stores, Inc. $CASY

Key Points

• Benjamin Edwards Inc. cut its Casey’s General Stores stake by 43.6% in the second quarter, selling 55,016 shares and retaining 71,036 shares valued at approximately $56.5 million. Institutional investors collectively own 85.63% of the company.
• Casey’s reported strong quarterly results, with EPS of $4.37 versus the $3.31 consensus and revenue of $4.57 billion, up 14.5% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $942.87.
• The company increased its quarterly dividend to $0.65 per share, or $2.60 annually, representing a 0.3% yield. Casey’s shares opened at $755.47, below their 50-day moving average and well under the 12-month high of $927.85.

Benjamin Edwards Inc. lessened its holdings in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 43.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 71,036 shares of the company's stock after selling 55,016 shares during the quarter. Benjamin Edwards Inc. owned approximately 0.19% of Casey's General Stores worth $56,484,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Fiduciary Financial Advisors bought a new position in Casey's General Stores during the second quarter valued at about $26,000. Bell Investment Advisors Inc acquired a new position in shares of Casey's General Stores during the 2nd quarter valued at about $33,000. Caitlin John LLC acquired a new position in shares of Casey's General Stores during the 2nd quarter valued at about $35,000. Whipplewood Advisors LLC bought a new position in shares of Casey's General Stores in the 1st quarter valued at approximately $33,000. Finally, 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 valued at $41,000 after acquiring an additional 40 shares in the last quarter. Institutional investors and hedge funds own 85.63% of the company's stock.

Casey's General Stores Stock Down 1.0%

CASY stock opened at $755.47 on Friday. Casey's General Stores, Inc. has a twelve month low of $490.00 and a twelve month high of $927.85. The company has a market cap of $27.96 billion, a PE ratio of 39.43, a price-to-earnings-growth ratio of 2.59 and a beta of 0.61. The business's 50-day simple moving average is $831.92 and its 200 day simple moving average is $781.32. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, beating the consensus estimate 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 for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.63 EPS. On average, research analysts anticipate that Casey's General Stores, Inc. will post 21.11 earnings per share for the current 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 represents a $2.60 dividend on an annualized basis and a yield of 0.3%. This is a positive change from Casey's General Stores's previous quarterly dividend of $0.57. The ex-dividend date was Friday, July 31st. Casey's General Stores's dividend payout ratio (DPR) is currently 13.57%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Royal Bank Of Canada reiterated a "sector perform" rating and set a $913.00 price target on shares of Casey's General Stores in a report on Wednesday, July 29th. William Blair began coverage on shares of Casey's General Stores in a report on Wednesday, May 20th. They set an "outperform" rating for the company. BMO Capital Markets raised 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. The Goldman Sachs Group lifted their price objective 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. Finally, Northcoast Research upgraded Casey's General Stores from a "neutral" rating to a "buy" rating and set a $950.00 target price for the company in a research note on Monday, July 13th. Fourteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $942.87.

Insider Transactions at Casey's General Stores

In other Casey's General Stores news, insider Chad Michael Frazell sold 3,013 shares of the stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $787.49, for a total transaction of $2,372,707.37. Following the completion of the transaction, the insider directly owned 9,823 shares in the company, valued at $7,735,514.27. This represents a 23.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Darren M. Rebelez sold 19,000 shares of Casey's General Stores stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $801.46, for a total transaction of $15,227,740.00. Following the transaction, the chief executive officer directly owned 89,174 shares of the company's stock, valued at $71,469,394.04. This represents a 17.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 30,243 shares of company stock valued at $24,421,877. 0.67% of the stock is owned by insiders.

About Casey's General Stores

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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