Focus Partners Advisor Solutions LLC Takes $4.38 Million Position in Casey's General Stores, Inc. $CASY

Key Points

• Focus Partners Advisor Solutions acquired 5,511 shares of Casey’s General Stores worth approximately $4.38 million in the second quarter. Institutional investors and hedge funds collectively own 85.63% of the company.
• Casey’s reported quarterly EPS of $4.37, beating estimates of $3.31, while revenue rose 14.5% year over year to $4.57 billion. Analysts project $21.14 in full-year EPS, and the stock carries a “Moderate Buy” consensus rating with a $944.20 price target.
• The company increased its quarterly dividend from $0.57 to $0.65 per share, equal to an annualized $2.60 dividend and a 0.3% yield. Meanwhile, insiders sold 30,243 shares worth approximately $24.4 million over the past 90 days.

Focus Partners Advisor Solutions LLC purchased a new stake in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 5,511 shares of the company's stock, valued at approximately $4,380,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. NewEdge Advisors LLC increased its position in Casey's General Stores by 6.4% in the 1st quarter. NewEdge Advisors LLC now owns 1,871 shares of the company's stock valued at $812,000 after acquiring an additional 113 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Casey's General Stores by 129.6% during the first quarter. Geneos Wealth Management Inc. now owns 186 shares of the company's stock valued at $81,000 after purchasing an additional 105 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Casey's General Stores by 431.7% during the second quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company's stock valued at $111,000 after purchasing an additional 177 shares during the last quarter. Amundi acquired a new stake in shares of Casey's General Stores in the second quarter valued at approximately $338,000. Finally, Jump Financial LLC increased its holdings in shares of Casey's General Stores by 42.6% in the second quarter. Jump Financial LLC now owns 968 shares of the company's stock valued at $494,000 after purchasing an additional 289 shares in the last quarter. Institutional investors and hedge funds own 85.63% of the company's stock.

Insider Activity

In other news, Director Allison M. Wing sold 530 shares of the company's stock in a transaction dated 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 $2,547,918.36. This represents a 14.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $838.16, for a total transaction of $4,777,512.00. Following the completion of the sale, the chief financial officer owned 29,677 shares in the company, valued at $24,874,074.32. This represents a 16.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 30,243 shares of company stock valued at $24,421,877. Insiders own 0.67% of the company's stock.

Casey's General Stores Stock Performance

CASY stock opened at $846.45 on Friday. The business's fifty day moving average is $837.57 and its 200-day moving average is $767.79. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. The company has a market cap of $31.33 billion, a P/E ratio of 44.18, a price-to-earnings-growth ratio of 2.54 and a beta of 0.61. Casey's General Stores, Inc. has a twelve month low of $490.00 and a twelve month high of $927.85.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, topping analysts' consensus estimates of $3.31 by $1.06. Casey's General Stores had a return on equity of 18.73% and a net margin of 4.07%.The business had revenue of $4.57 billion during the quarter, compared to analysts' expectations of $4.33 billion. During the same period in the previous year, the firm earned $2.63 earnings per share. The firm's quarterly revenue was up 14.5% compared to the same quarter last year. Equities research analysts forecast that Casey's General Stores, Inc. will post 21.14 EPS for the current year.

Casey's General Stores Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Saturday, August 1st were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.3%. This is an increase 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 13.57%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CASY. Wall Street Zen raised Casey's General Stores from a "hold" rating to a "buy" rating in a report on Saturday, June 13th. BNP Paribas Exane decreased 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 report on Thursday, June 25th. Weiss Ratings cut Casey's General Stores from a "buy (b+)" rating to a "buy (b)" rating in a research note on Tuesday, July 21st. Zacks Research downgraded Casey's General Stores from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 5th. Finally, Evercore reaffirmed an "outperform" rating and set a $990.00 price target on shares of Casey's General Stores in a research note on Friday, June 12th. Fourteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $944.20.

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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