Integrity Alliance LLC. Raises Stock Holdings in Casey's General Stores, Inc. $CASY

Key Points

• Integrity Alliance LLC significantly increased its holdings in Casey's General Stores by 1,773.7% during the first quarter, owning 17,894 shares valued at approximately $7.77 million.
• The company reported strong quarterly earnings with $5.77 EPS, exceeding expectations of $5.02, alongside an increase in revenue to $4.57 billion, up 11.5% from the previous year.
• Casey's General Stores announced a quarterly dividend of $0.57 per share to be paid on November 14, representing a 0.4% yield.

Integrity Alliance LLC. lifted its holdings in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 1,773.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,894 shares of the company's stock after buying an additional 16,939 shares during the quarter. Integrity Alliance LLC.'s holdings in Casey's General Stores were worth $7,767,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Versant Capital Management Inc purchased a new stake in shares of Casey's General Stores in the first quarter worth approximately $25,000. Global Financial Private Client LLC increased its holdings in Casey's General Stores by 325.0% during the 1st quarter. Global Financial Private Client LLC now owns 68 shares of the company's stock worth $30,000 after purchasing an additional 52 shares during the period. Summit Securities Group LLC purchased a new position in Casey's General Stores during the 1st quarter worth $32,000. Iron Horse Wealth Management LLC increased its holdings in Casey's General Stores by 40.0% during the 1st quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company's stock worth $40,000 after purchasing an additional 26 shares during the period. Finally, WPG Advisers LLC purchased a new position in Casey's General Stores during the 1st quarter worth $47,000. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Katrina S. Lindsey sold 2,000 shares of the business's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $506.07, for a total transaction of $1,012,140.00. Following the transaction, the insider directly owned 4,636 shares in the company, valued at $2,346,140.52. The trade was a 30.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Chad Michael Frazell sold 4,808 shares of the business's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $503.97, for a total value of $2,423,087.76. Following the transaction, the insider owned 11,480 shares in the company, valued at approximately $5,785,575.60. This trade represents a 29.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,646 shares of company stock worth $22,136,614 over the last quarter. Company insiders own 0.54% of the company's stock.

Casey's General Stores Trading Up 3.8%

Shares of NASDAQ:CASY opened at $541.30 on Wednesday. Casey's General Stores, Inc. has a 12-month low of $362.42 and a 12-month high of $543.20. The business's fifty day simple moving average is $514.22 and its 200-day simple moving average is $469.70. The company has a market capitalization of $20.13 billion, a PE ratio of 34.74 and a beta of 0.66. The company has a current ratio of 0.92, a quick ratio of 0.48 and a debt-to-equity ratio of 0.69.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its quarterly earnings results on Monday, September 8th. The company reported $5.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.02 by $0.75. Casey's General Stores had a return on equity of 17.00% and a net margin of 3.54%.The business had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.47 billion. During the same period last year, the business posted $4.83 EPS. The business's revenue was up 11.5% compared to the same quarter last year. As a group, equities research analysts predict that Casey's General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey's General Stores Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Saturday, November 1st will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 0.4%. The ex-dividend date is Friday, October 31st. Casey's General Stores's payout ratio is 15.57%.

Analysts Set New Price Targets

CASY has been the topic of several research reports. The Goldman Sachs Group raised their price objective on Casey's General Stores from $385.00 to $450.00 and gave the stock a "neutral" rating in a report on Wednesday, June 11th. KeyCorp raised their price objective on Casey's General Stores from $550.00 to $575.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Wall Street Zen upgraded Casey's General Stores from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Stephens restated an "overweight" rating and set a $530.00 price objective on shares of Casey's General Stores in a report on Tuesday. Finally, Royal Bank Of Canada raised their price objective on Casey's General Stores from $468.00 to $542.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 9th. Eight equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $486.50.

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.

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