Dakota Wealth Management Purchases 25,575 Shares of Casey's General Stores, Inc. $CASY

Key Points

• Dakota Wealth Management significantly increased its stake in Casey's General Stores by 2,342% in Q2, acquiring 25,575 shares for a total ownership of approximately 26,667 shares valued at $13.6 million.
• Casey's General Stores reported an earnings per share (EPS) of $5.77 for the latest quarter, surpassing analysts' expectations of $5.02, and observed an increase in revenue by 11.5% year-over-year.
• The company announced a quarterly dividend of $0.57 per share to be paid on November 14, which represents a 0.4% yield.

Dakota Wealth Management grew its position in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 2,342.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,667 shares of the company's stock after buying an additional 25,575 shares during the period. Dakota Wealth Management owned approximately 0.07% of Casey's General Stores worth $13,608,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of CASY. Versant Capital Management Inc acquired a new stake in shares of Casey's General Stores during the 1st quarter worth $25,000. Global Financial Private Client LLC grew its holdings in shares of Casey's General Stores by 325.0% during the 1st quarter. Global Financial Private Client LLC now owns 68 shares of the company's stock worth $30,000 after purchasing an additional 52 shares in the last quarter. Summit Securities Group LLC acquired a new stake in shares of Casey's General Stores during the 1st quarter worth $32,000. Iron Horse Wealth Management LLC grew its holdings in shares of Casey's General Stores by 40.0% during the 1st quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company's stock worth $40,000 after purchasing an additional 26 shares in the last quarter. Finally, WPG Advisers LLC acquired a new stake in shares of Casey's General Stores during the 1st quarter worth $47,000. 85.63% of the stock is owned by institutional investors and hedge funds.

Casey's General Stores Price Performance

Casey's General Stores stock opened at $547.05 on Thursday. The company has a current ratio of 1.03, a quick ratio of 0.61 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $20.34 billion, a PE ratio of 35.11 and a beta of 0.66. Casey's General Stores, Inc. has a 12 month low of $363.00 and a 12 month high of $571.57. The stock has a 50-day moving average price of $521.21 and a two-hundred day moving average price of $480.00.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its quarterly earnings data on Monday, September 8th. The company reported $5.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.02 by $0.75. Casey's General Stores had a return on equity of 16.73% and a net margin of 3.54%.The company had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.47 billion. During the same period last year, the company earned $4.83 earnings per share. The firm's revenue was up 11.5% compared to the same quarter last year. Analysts expect that Casey's General Stores, Inc. will post 13.94 EPS for the current year.

Casey's General Stores Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Saturday, November 1st will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a $2.28 annualized dividend and a yield of 0.4%. Casey's General Stores's dividend payout ratio (DPR) is currently 14.63%.

Insider Activity at Casey's General Stores

In other news, Director Mike Spanos acquired 200 shares of Casey's General Stores stock in a transaction on Monday, June 30th. The stock was purchased at an average price of $503.18 per share, with a total value of $100,636.00. Following the completion of the purchase, the director owned 3,560 shares of the company's stock, valued at approximately $1,791,320.80. The trade was a 5.95% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Stephen P. Bramlage, Jr. sold 760 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $507.56, for a total value of $385,745.60. Following the completion of the sale, the chief financial officer directly owned 25,994 shares of the company's stock, valued at $13,193,514.64. This trade represents a 2.84% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CASY shares. Stephens restated an "overweight" rating and set a $530.00 price objective on shares of Casey's General Stores in a research report on Tuesday, September 9th. Evercore ISI upped their price objective on Casey's General Stores from $560.00 to $580.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 10th. BMO Capital Markets upped their price objective on Casey's General Stores from $515.00 to $540.00 and gave the stock a "market perform" rating in a research report on Wednesday, September 10th. Jefferies Financial Group upped their price objective on Casey's General Stores from $575.00 to $600.00 and gave the stock a "buy" rating in a research report on Tuesday, September 9th. Finally, KeyCorp upped their price objective 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. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $529.10.

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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