778 Shares in Casey's General Stores, Inc. (NASDAQ:CASY) Bought by Ground Swell Capital LLC

Key Points

• Ground Swell Capital LLC has acquired 778 shares of Casey's General Stores, representing an investment of approximately $338,000 in the first quarter of 2023.
• Casey's General Stores reported strong earnings of $2.63 per share for the latest quarter, surpassing expectations with revenue increasing by 10.9% year-over-year.
• The company recently announced a quarterly dividend increase to $0.57 per share, reflecting a positive shift from the previous dividend of $0.50.

Ground Swell Capital LLC acquired a new stake in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 778 shares of the company's stock, valued at approximately $338,000.

Several other institutional investors also recently bought and sold shares of CASY. T. Rowe Price Investment Management Inc. boosted its stake in shares of Casey's General Stores by 1.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,776,323 shares of the company's stock worth $703,833,000 after acquiring an additional 31,131 shares during the last quarter. JPMorgan Chase & Co. raised its position in Casey's General Stores by 42.0% in the first quarter. JPMorgan Chase & Co. now owns 1,036,426 shares of the company's stock valued at $449,851,000 after purchasing an additional 306,628 shares during the period. GAMMA Investing LLC raised its position in Casey's General Stores by 54,448.8% in the first quarter. GAMMA Investing LLC now owns 543,852 shares of the company's stock valued at $236,054,000 after purchasing an additional 542,855 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Casey's General Stores by 51.5% in the 1st quarter. Bank of New York Mellon Corp now owns 515,603 shares of the company's stock valued at $223,792,000 after buying an additional 175,372 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Casey's General Stores by 3.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 502,979 shares of the company's stock valued at $199,302,000 after buying an additional 17,539 shares during the period. 85.63% of the stock is owned by institutional investors and hedge funds.

Casey's General Stores Price Performance

NASDAQ CASY traded down $0.34 during mid-day trading on Friday, hitting $507.84. The stock had a trading volume of 194,944 shares, compared to its average volume of 250,511. Casey's General Stores, Inc. has a 52-week low of $350.52 and a 52-week high of $531.24. The company has a market cap of $18.88 billion, a price-to-earnings ratio of 34.69 and a beta of 0.69. The company has a 50 day simple moving average of $513.09 and a 200 day simple moving average of $460.21. The company has a quick ratio of 0.48, a current ratio of 0.92 and a debt-to-equity ratio of 0.69.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its quarterly earnings results on Monday, June 9th. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.69. The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.95 billion. Casey's General Stores had a return on equity of 16.28% and a net margin of 3.43%. Casey's General Stores's revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.34 earnings per share. Equities analysts forecast that Casey's General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey's General Stores Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 0.4%. This is a positive change from Casey's General Stores's previous quarterly dividend of $0.50. The ex-dividend date was Friday, August 1st. Casey's General Stores's payout ratio is 15.57%.

Analyst Ratings Changes

CASY has been the topic of several research analyst reports. Wells Fargo & Company boosted their price objective on Casey's General Stores from $460.00 to $540.00 and gave the company an "overweight" rating in a report on Wednesday, June 11th. Wall Street Zen raised Casey's General Stores from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Royal Bank Of Canada upped their target price on Casey's General Stores from $468.00 to $542.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 9th. BMO Capital Markets upped their target price on Casey's General Stores from $450.00 to $515.00 and gave the company a "market perform" rating in a research report on Wednesday, June 11th. Finally, KeyCorp upped their price objective on Casey's General Stores from $550.00 to $575.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Casey's General Stores currently has a consensus rating of "Moderate Buy" and a consensus price target of $467.33.

Insider Buying and Selling at Casey's General Stores

In other news, CEO Darren M. Rebelez sold 20,000 shares of the firm's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $507.83, for a total transaction of $10,156,600.00. Following the sale, the chief executive officer owned 89,840 shares in the company, valued at $45,623,447.20. This trade represents a 18.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Stephen P. Bramlage, Jr. sold 760 shares of the firm's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $507.56, for a total value of $385,745.60. Following the sale, the chief financial officer owned 25,994 shares in the company, 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. Over the last ninety days, insiders have sold 43,646 shares of company stock valued at $22,136,614. 0.54% of the stock is currently owned by insiders.

Casey's General Stores Company Profile

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.