Empowered Funds LLC purchased a new stake in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 6,307 shares of the company's stock, valued at approximately $5,013,000.
Other hedge funds also recently modified their holdings of the company. Fiduciary Financial Advisors acquired a new stake in Casey's General Stores in the second quarter valued at $26,000. Whipplewood Advisors LLC bought a new position in Casey's General Stores during the 1st quarter worth $33,000. Bell Investment Advisors Inc acquired a new position in Casey's General Stores during the 2nd quarter worth about $33,000. Caitlin John LLC acquired a new position in Casey's General Stores during the 2nd quarter worth about $35,000. Finally, Larson Financial Group LLC grew its position in shares of Casey's General Stores by 252.4% in the 4th quarter. Larson Financial Group LLC now owns 74 shares of the company's stock valued at $41,000 after buying an additional 53 shares during the last quarter. Institutional investors and hedge funds own 85.63% of the company's stock.
Casey's General Stores Stock Performance
Shares of CASY opened at $752.21 on Tuesday. 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's fifty day simple moving average is $830.33 and its two-hundred day simple moving average is $782.87. Casey's General Stores, Inc. has a 12 month low of $490.00 and a 12 month high of $927.85. The stock has a market capitalization of $27.84 billion, a P/E ratio of 39.26, a price-to-earnings-growth ratio of 2.59 and a beta of 0.61.
Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, topping the consensus estimate of $3.31 by $1.06. The firm had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.33 billion. Casey's General Stores had a return on equity of 18.73% and a net margin of 4.07%.The business's quarterly revenue was up 14.5% on a year-over-year basis. During the same period last year, the company posted $2.63 EPS. As a group, analysts predict that Casey's General Stores, Inc. will post 21.11 EPS for the current year.
Casey's General Stores Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Saturday, August 1st were issued a $0.65 dividend. The ex-dividend date was Friday, July 31st. This is an increase from Casey's General Stores's previous quarterly dividend of $0.57. This represents a $2.60 dividend on an annualized basis and a yield of 0.3%. Casey's General Stores's dividend payout ratio is presently 13.57%.
Insiders Place Their Bets
In other Casey's General Stores news, insider Chad Michael Frazell sold 3,013 shares of the business's stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $787.49, for a total value of $2,372,707.37. Following the transaction, the insider directly owned 9,823 shares of the company's stock, valued at approximately $7,735,514.27. The trade was a 23.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Darren M. Rebelez sold 19,000 shares of the stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $801.46, for a total value of $15,227,740.00. Following the transaction, the chief executive officer owned 89,174 shares in the company, valued at $71,469,394.04. The trade was a 17.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 30,243 shares of company stock valued at $24,421,877 in the last 90 days. Company insiders own 0.67% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on CASY. UBS Group decreased their price target on Casey's General Stores from $945.00 to $925.00 and set a "neutral" rating for the company in a research note on Thursday. BNP Paribas Exane cut their price objective on Casey's General Stores from $1,032.00 to $995.00 and set an "outperform" rating on the stock in a research note on Thursday, June 25th. Stephens set a $975.00 target price on Casey's General Stores and gave the company an "overweight" rating in a report on Friday, June 12th. Capital One Financial began coverage on shares of Casey's General Stores in a research report on Monday, June 22nd. They set an "equal weight" rating and a $896.00 target price for the company. 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 for the company in a report on Monday, June 29th. Fourteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Casey's General Stores has an average rating of "Moderate Buy" and an average target price of $942.87.
Read Our Latest Stock Report on Casey's General Stores
About Casey's General Stores
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding CASY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Casey's General Stores, Inc. (NASDAQ:CASY - Free Report).
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