Empowered Funds LLC Raises Position in Casey's General Stores, Inc. $CASY

Key Points

• Empowered Funds LLC increased its Casey’s General Stores position by 886.4% in the first quarter, owning 5,593 shares valued at approximately $4.07 million. Institutional investors collectively hold 85.63% of the company.
• Casey’s exceeded quarterly earnings expectations, reporting $4.37 in EPS versus the $3.31 consensus estimate and $4.57 billion in revenue, up 14.5% year over year.
• The company raised its quarterly dividend to $0.65 from $0.57, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $944.20.

Empowered Funds LLC grew its holdings in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 886.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,593 shares of the company's stock after acquiring an additional 5,026 shares during the period. Empowered Funds LLC's holdings in Casey's General Stores were worth $4,071,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Whipplewood Advisors LLC purchased a new stake in shares of Casey's General Stores in the 1st quarter valued at approximately $33,000. Larson Financial Group LLC lifted its position in shares of Casey's General Stores by 252.4% during the 4th quarter. Larson Financial Group LLC now owns 74 shares of the company's stock worth $41,000 after purchasing an additional 53 shares during the last quarter. RMG Wealth Management LLC lifted its position in shares of Casey's General Stores by 250.0% during the 1st quarter. RMG Wealth Management LLC now owns 56 shares of the company's stock worth $41,000 after purchasing an additional 40 shares during the last quarter. Elyxium Wealth LLC purchased a new stake in shares of Casey's General Stores during the 4th quarter worth $43,000. Finally, Osterweis Capital Management Inc. acquired a new position in shares of Casey's General Stores during the second quarter worth $45,000. Institutional investors and hedge funds own 85.63% of the company's stock.

Casey's General Stores Stock Performance

Shares of CASY stock opened at $871.00 on Monday. The stock's 50-day moving average is $823.78 and its two-hundred day moving average is $753.42. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 1.01. Casey's General Stores, Inc. has a 1 year low of $490.00 and a 1 year high of $927.85. The firm has a market cap of $32.24 billion, a price-to-earnings ratio of 45.46, a PEG ratio of 2.61 and a beta of 0.61.

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 for the quarter, beating the consensus estimate of $3.31 by $1.06. The business had revenue of $4.57 billion during the quarter, compared to the consensus estimate 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 in the previous year, the business earned $2.63 EPS. Analysts predict that Casey's General Stores, Inc. will post 21.14 earnings per share for the current year.

Casey's General Stores Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Saturday, August 1st will be paid a $0.65 dividend. 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%. The ex-dividend date is Friday, July 31st. Casey's General Stores's dividend payout ratio (DPR) is presently 13.57%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Wolfe Research reissued an "outperform" rating and issued a $1,069.00 target price on shares of Casey's General Stores in a report on Thursday, June 11th. Capital One Financial began coverage on Casey's General Stores in a report on Monday, June 22nd. They set an "equal weight" rating and a $896.00 price target for the company. UBS Group upped their price objective on Casey's General Stores from $805.00 to $945.00 and gave the stock a "neutral" rating in a research report on Thursday, June 11th. Weiss Ratings downgraded Casey's General Stores from a "buy (b+)" rating to a "buy (b)" rating in a report on Tuesday, July 21st. Finally, BNP Paribas Exane cut their target price on Casey's General Stores from $1,032.00 to $995.00 and set an "outperform" rating on the stock in a research report on Thursday, June 25th. Fourteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Casey's General Stores has a consensus rating of "Moderate Buy" and an average price target of $944.20.

Insider Buying and Selling

In other news, Director Allison M. Wing sold 530 shares of the stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $837.58, for a total value of $443,917.40. Following the completion of the sale, the director directly owned 3,042 shares of the company's stock, valued at approximately $2,547,918.36. This represents a 14.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Katrina S. Lindsey sold 2,000 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $800.00, for a total value of $1,600,000.00. Following the completion of the sale, the insider directly owned 6,668 shares of the company's stock, valued at $5,334,400. The trade was a 23.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 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.

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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