Kathmere Capital Management LLC Invests $280,000 in Casey's General Stores, Inc. $CASY

Key Points

• Kathmere Capital Management LLC invested $280,000 in Casey's General Stores by purchasing 549 shares in the second quarter.
• Casey's General Stores reported a quarterly EPS of $5.77, surpassing estimates by $0.75, with revenues totaling $4.57 billion.
• Analysts have issued a consensus rating of "Moderate Buy" for Casey's General Stores, with a price target increase to an average of $529.10.

Kathmere Capital Management LLC purchased a new position in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 549 shares of the company's stock, valued at approximately $280,000.

A number of other hedge funds have also made changes to their positions in the stock. Dakota Wealth Management lifted its position in shares of Casey's General Stores by 2,342.0% in the second quarter. Dakota Wealth Management now owns 26,667 shares of the company's stock worth $13,608,000 after purchasing an additional 25,575 shares in the last quarter. TD Private Client Wealth LLC lifted its position in shares of Casey's General Stores by 2,250.0% in the second quarter. TD Private Client Wealth LLC now owns 799 shares of the company's stock worth $408,000 after purchasing an additional 765 shares in the last quarter. Accurate Wealth Management LLC lifted its position in shares of Casey's General Stores by 3.9% in the second quarter. Accurate Wealth Management LLC now owns 727 shares of the company's stock worth $381,000 after purchasing an additional 27 shares in the last quarter. CHICAGO TRUST Co NA lifted its position in shares of Casey's General Stores by 33.7% in the second quarter. CHICAGO TRUST Co NA now owns 961 shares of the company's stock worth $490,000 after purchasing an additional 242 shares in the last quarter. Finally, Foster Group Inc. lifted its position in shares of Casey's General Stores by 9.2% in the second quarter. Foster Group Inc. now owns 7,813 shares of the company's stock worth $3,987,000 after purchasing an additional 660 shares in the last quarter. 85.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on CASY. Wall Street Zen upgraded Casey's General Stores from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. KeyCorp increased 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. Wells Fargo & Company increased their price objective on Casey's General Stores from $540.00 to $580.00 and gave the stock an "overweight" rating in a report on Monday, September 8th. Stephens restated an "overweight" rating and issued a $530.00 price objective on shares of Casey's General Stores in a report on Tuesday, September 9th. Finally, Jefferies Financial Group increased their price objective on Casey's General Stores from $575.00 to $600.00 and gave the stock a "buy" rating in a report on Tuesday, September 9th. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Casey's General Stores currently has a consensus rating of "Moderate Buy" and an average target price of $529.10.

Casey's General Stores Trading Up 0.8%

Shares of CASY stock opened at $547.54 on Monday. Casey's General Stores, Inc. has a 12 month low of $363.00 and a 12 month high of $571.57. The company has a quick ratio of 0.61, a current ratio of 1.03 and a debt-to-equity ratio of 0.65. The business's 50 day moving average is $522.50 and its two-hundred day moving average is $483.52. The company has a market cap of $20.36 billion, a PE ratio of 35.14 and a beta of 0.66.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its quarterly earnings results on Monday, September 8th. The company reported $5.77 EPS for the quarter, beating the consensus estimate of $5.02 by $0.75. Casey's General Stores had a return on equity of 16.73% and a net margin of 3.54%.The company had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.47 billion. During the same quarter last year, the company posted $4.83 earnings per share. The company's revenue for the quarter was up 11.5% compared to the same quarter last year. Equities analysts predict that Casey's General Stores, Inc. will post 13.94 EPS for the current year.

Casey's General Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Saturday, November 1st will be paid a $0.57 dividend. The ex-dividend date is Friday, October 31st. This represents a $2.28 annualized dividend and a dividend yield of 0.4%. Casey's General Stores's dividend payout ratio (DPR) is presently 14.63%.

Insider Activity

In other news, CFO Stephen P. Bramlage, Jr. sold 760 shares of the firm's stock in a transaction on Wednesday, July 2nd. The shares were 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 approximately $13,193,514.64. This trade represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.54% of the company's stock.

Casey's General Stores 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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