Casey's General Stores, Inc. (NASDAQ:CASY) Shares Acquired by WealthPlan Investment Management LLC

Key Points

• WealthPlan Investment Management LLC increased its holdings in Casey's General Stores by 1.7%, owning approximately 38,303 shares valued at about $16.6 million, making it the firm's 8th largest position.
• Casey’s reported a EPS of $2.63 for the last quarter, surpassing analysts' expectations, with a revenue of $3.99 billion, which is a 10.9% increase from the previous year.
• The company declared a quarterly dividend increase from $0.50 to $0.57, set to be paid on August 15th, representing a dividend yield of 0.4%.

WealthPlan Investment Management LLC boosted its holdings in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 1.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,303 shares of the company's stock after purchasing an additional 636 shares during the quarter. Casey's General Stores comprises approximately 1.6% of WealthPlan Investment Management LLC's holdings, making the stock its 8th largest position. WealthPlan Investment Management LLC owned about 0.10% of Casey's General Stores worth $16,625,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Flagship Harbor Advisors LLC boosted its stake in shares of Casey's General Stores by 4.1% in the 1st quarter. Flagship Harbor Advisors LLC now owns 590 shares of the company's stock valued at $256,000 after purchasing an additional 23 shares in the last quarter. Burns J W & Co. Inc. NY boosted its stake in shares of 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. boosted its stake in shares of 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 boosted its stake in shares of Casey's General Stores by 40.0% in the 1st 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 in the last quarter. Finally, Menard Financial Group LLC grew its position in Casey's General Stores by 2.1% during the 1st quarter. Menard Financial Group LLC now owns 1,290 shares of the company's stock worth $603,000 after acquiring an additional 27 shares during the last quarter. Institutional investors and hedge funds own 85.63% of the company's stock.

Casey's General Stores Stock Performance

Casey's General Stores stock opened at $521.49 on Thursday. The company has a current ratio of 0.92, a quick ratio of 0.48 and a debt-to-equity ratio of 0.69. The company has a market cap of $19.39 billion, a PE ratio of 35.62 and a beta of 0.69. The company's 50-day moving average is $502.98 and its two-hundred day moving average is $455.01. Casey's General Stores, Inc. has a 1 year low of $350.52 and a 1 year high of $531.24.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its quarterly earnings results on Monday, June 9th. The company reported $2.63 EPS for the quarter, beating analysts' consensus estimates of $1.94 by $0.69. The company had revenue of $3.99 billion during the quarter, compared to analysts' expectations of $3.95 billion. Casey's General Stores had a return on equity of 16.28% and a net margin of 3.43%. Casey's General Stores's revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.34 EPS. Equities analysts anticipate that Casey's General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey's General Stores Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be paid a $0.57 dividend. This is a boost from Casey's General Stores's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, August 1st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.4%. Casey's General Stores's dividend payout ratio (DPR) is currently 15.57%.

Analyst Ratings Changes

Several analysts have recently commented on the company. KeyCorp increased their target price on Casey's General Stores from $550.00 to $575.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Royal Bank Of Canada upped their price target on shares of 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. BMO Capital Markets upped their price target on shares of Casey's General Stores from $450.00 to $515.00 and gave the stock a "market perform" rating in a research report on Wednesday, June 11th. Wells Fargo & Company upped their price target on shares of Casey's General Stores from $460.00 to $540.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 11th. Finally, Stephens reiterated an "overweight" rating and set a $490.00 price target on shares of Casey's General Stores in a research report on Tuesday, June 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Casey's General Stores presently has an average rating of "Moderate Buy" and an average target price of $467.33.

Insider Buying and Selling

In other Casey's General Stores news, CEO Darren M. Rebelez sold 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $507.83, for a total transaction of $10,156,600.00. Following the sale, the chief executive officer directly owned 89,840 shares in the company, valued at approximately $45,623,447.20. This trade represents a 18.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Mike Spanos bought 200 shares of the company's stock in a transaction on Monday, June 30th. The shares were bought at an average price of $503.18 per share, for a total transaction of $100,636.00. Following the completion of the acquisition, the director directly owned 3,560 shares in the company, valued at approximately $1,791,320.80. This trade represents a 5.95% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 43,646 shares of company stock worth $22,136,614 over the last quarter. Insiders own 0.54% of the company's stock.

Casey's General Stores Profile

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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