Global Retirement Partners LLC Makes New Investment in Casey's General Stores, Inc. $CASY

Key Points

• Global Retirement Partners acquired 1,253 Casey’s General Stores shares worth approximately $996,000 during the second quarter. Institutional investors collectively own 85.63% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $944.20. Casey’s recently exceeded quarterly expectations, reporting $4.37 in earnings per share and $4.57 billion in revenue.
• Casey’s raised its quarterly dividend to $0.65 per share, while CEO Darren Rebelez and CFO Stephen Bramlage sold shares totaling more than $20 million in early July.

Global Retirement Partners LLC bought a new stake in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 1,253 shares of the company's stock, valued at approximately $996,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Kathmere Capital Management LLC lifted its position in shares of Casey's General Stores by 3.5% during the 1st quarter. Kathmere Capital Management LLC now owns 387 shares of the company's stock worth $282,000 after buying an additional 13 shares during the last quarter. Pinnacle Bancorp Inc. grew its position in Casey's General Stores by 4.8% in the first quarter. Pinnacle Bancorp Inc. now owns 303 shares of the company's stock valued at $221,000 after acquiring an additional 14 shares during the last quarter. Lincoln Capital LLC raised its stake in Casey's General Stores by 4.0% during the second quarter. Lincoln Capital LLC now owns 366 shares of the company's stock worth $291,000 after acquiring an additional 14 shares in the last quarter. Menard Financial Group LLC raised its stake in Casey's General Stores by 1.2% during the fourth quarter. Menard Financial Group LLC now owns 1,267 shares of the company's stock worth $700,000 after acquiring an additional 15 shares in the last quarter. Finally, Cibc World Market Inc. lifted its holdings in shares of Casey's General Stores by 0.3% in the fourth quarter. Cibc World Market Inc. now owns 5,136 shares of the company's stock worth $2,839,000 after acquiring an additional 16 shares during the last quarter. Institutional investors own 85.63% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CASY. The Goldman Sachs Group lifted their price target on shares of Casey's General Stores from $695.00 to $795.00 and gave the company a "neutral" rating in a report on Thursday, June 25th. Wolfe Research reaffirmed an "outperform" rating and set a $1,069.00 target price on shares of Casey's General Stores in a research note on Thursday, June 11th. Stephens set a $975.00 price target on Casey's General Stores and gave the company an "overweight" rating in a research note on Friday, June 12th. 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 report on Thursday, June 25th. Finally, Zacks Research cut Casey's General Stores from a "strong-buy" rating to a "hold" rating in a report on Friday, June 5th. Fourteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $944.20.

Insider Transactions at Casey's General Stores

In other news, CEO Darren M. Rebelez sold 19,000 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer owned 89,174 shares of the company's stock, valued at approximately $71,469,394.04. This represents a 17.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the firm's stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $838.16, for a total value of $4,777,512.00. Following the transaction, the chief financial officer owned 29,677 shares of the company's stock, valued at $24,874,074.32. This trade represents a 16.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 30,243 shares of company stock worth $24,421,877. 0.67% of the stock is currently owned by insiders.

Casey's General Stores Price Performance

CASY stock opened at $855.00 on Wednesday. The company has a market capitalization of $31.64 billion, a P/E ratio of 44.62, a PEG ratio of 2.54 and a beta of 0.61. The company has a fifty day moving average price of $841.81 and a 200-day moving average price of $772.32. 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 52-week low of $490.00 and a 52-week high of $927.85.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued 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 company had revenue of $4.57 billion for the quarter, compared to analysts' expectations of $4.33 billion. Casey's General Stores had a net margin of 4.07% and a return on equity of 18.73%. Casey's General Stores's revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.63 earnings per share. As a group, equities analysts expect 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 declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Saturday, August 1st were given a $0.65 dividend. This is a boost from Casey's General Stores's previous quarterly dividend of $0.57. The ex-dividend date was Friday, July 31st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.3%. Casey's General Stores's dividend payout ratio is presently 13.57%.

Casey's General Stores Company 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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