JSF Financial LLC Purchases New Position in Casey's General Stores, Inc. (NASDAQ:CASY)

Key Points

• JSF Financial LLC has acquired a new stake in Casey's General Stores, purchasing 2,312 shares valued at approximately $1,004,000.
• CEO Darren M. Rebelez sold 20,000 shares of the company's stock for over $10 million, reducing his ownership by 18.21%.
• Casey's General Stores has announced an increase in its quarterly dividend from $0.50 to $0.57, representing an annualized yield of 0.43%.

JSF Financial LLC acquired a new stake in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,312 shares of the company's stock, valued at approximately $1,004,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc bought a new position in shares of Casey's General Stores during the first quarter valued at approximately $25,000. Global Financial Private Client LLC boosted its position in shares of Casey's General Stores by 325.0% during the first quarter. Global Financial Private Client LLC now owns 68 shares of the company's stock worth $30,000 after buying an additional 52 shares during the period. Iron Horse Wealth Management LLC boosted its position in shares of Casey's General Stores by 40.0% during the first quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company's stock worth $40,000 after buying an additional 26 shares during the period. Whipplewood Advisors LLC boosted its position in shares of Casey's General Stores by 160.0% during the first quarter. Whipplewood Advisors LLC now owns 117 shares of the company's stock worth $51,000 after buying an additional 72 shares during the period. Finally, Wayfinding Financial LLC acquired a new position in shares of Casey's General Stores during the first quarter worth approximately $59,000. Hedge funds and other institutional investors own 85.63% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CASY shares. The Goldman Sachs Group increased their price objective on Casey's General Stores from $385.00 to $450.00 and gave the company a "neutral" rating in a research report on Wednesday, June 11th. Wells Fargo & Company increased their price objective on Casey's General Stores from $460.00 to $540.00 and gave the company an "overweight" rating in a research report on Wednesday, June 11th. KeyCorp increased their price objective on Casey's General Stores from $550.00 to $575.00 and gave the company an "overweight" rating in a research report on Friday. Evercore ISI increased their price objective on Casey's General Stores from $450.00 to $460.00 and gave the company an "outperform" rating in a research report on Tuesday, April 1st. Finally, BMO Capital Markets increased their price objective 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Casey's General Stores has a consensus rating of "Moderate Buy" and a consensus target price of $467.33.

Casey's General Stores Stock Down 0.6%

Shares of CASY traded down $3.08 during mid-day trading on Tuesday, hitting $521.96. 254,187 shares of the company traded hands, compared to its average volume of 284,802. 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, Inc. has a 1-year low of $350.52 and a 1-year high of $531.24. The business has a 50 day moving average of $494.05 and a 200 day moving average of $450.08. The company has a market capitalization of $19.41 billion, a PE ratio of 35.65 and a beta 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 EPS for the quarter, topping the consensus estimate of $1.94 by $0.69. The business had revenue of $3.99 billion during the quarter, compared to analysts' expectations of $3.95 billion. Casey's General Stores had a return on equity of 16.28% and a net margin of 3.43%. The company's quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.34 earnings per share. Equities research analysts anticipate that Casey's General Stores, Inc. will post 13.94 EPS for the current year.

Casey's General Stores Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be paid a $0.57 dividend. The ex-dividend date of this dividend is Friday, August 1st. This represents a $2.28 dividend on an annualized basis and a yield of 0.44%. This is an increase from Casey's General Stores's previous quarterly dividend of $0.50. Casey's General Stores's payout ratio is 13.66%.

Insider Activity

In other news, insider Chad Michael Frazell sold 4,808 shares of Casey's General Stores 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 completion of the sale, the insider directly owned 11,480 shares of the company's stock, valued at approximately $5,785,575.60. This trade represents a 29.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Stephen P. Bramlage, Jr. sold 760 shares of Casey's General Stores stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $507.56, for a total value of $385,745.60. Following the transaction, the chief financial officer owned 25,994 shares in the company, valued at approximately $13,193,514.64. This represents a 2.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,646 shares of company stock worth $22,136,614 over the last 90 days. Company insiders own 0.54% of the company's stock.

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.