Koshinski Asset Management Inc. Has $1.19 Million Stock Position in Casey's General Stores, Inc. $CASY

Key Points

• Koshinski Asset Management Inc. has increased its stake in Casey's General Stores by 48.5%, owning 2,336 shares valued at approximately $1.19 million.
• The company reported a quarterly earnings per share (EPS) of $5.77, exceeding analysts' expectations and marking an 11.5% increase in revenue year-over-year.
• Casey's General Stores announced a quarterly dividend of $0.57 per share, with an annual yield of 0.4%, payable on November 14th.

Koshinski Asset Management Inc. raised its holdings in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 48.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,336 shares of the company's stock after buying an additional 763 shares during the quarter. Koshinski Asset Management Inc.'s holdings in Casey's General Stores were worth $1,192,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Summit Securities Group LLC bought a new position in Casey's General Stores during the first quarter worth $32,000. Iron Horse Wealth Management LLC grew its position in Casey's General Stores by 40.0% in 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 last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Casey's General Stores by 242.9% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 96 shares of the company's stock worth $49,000 after purchasing an additional 68 shares during the period. WPG Advisers LLC bought a new position in shares of Casey's General Stores during the 1st quarter worth about $47,000. Finally, Wayfinding Financial LLC acquired a new position in shares of Casey's General Stores during the first quarter valued at about $59,000. 85.63% of the stock is owned by institutional investors.

Casey's General Stores Stock Performance

Shares of NASDAQ:CASY opened at $567.05 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.03 and a quick ratio of 0.61. The business's fifty day moving average price is $534.08 and its two-hundred day moving average price is $498.14. Casey's General Stores, Inc. has a fifty-two week low of $372.08 and a fifty-two week high of $572.18. The stock has a market capitalization of $21.08 billion, a price-to-earnings ratio of 36.40 and a beta of 0.68.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its 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 net margin of 3.54% and a return on equity of 16.73%. The company had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.47 billion. During the same quarter in the previous year, the company earned $4.83 EPS. The firm's revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, analysts predict that Casey's General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey's General Stores Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders 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 of this dividend is Friday, October 31st. Casey's General Stores's dividend payout ratio is currently 14.63%.

Insider Activity

In other news, insider Chad Michael Frazell sold 3,487 shares of Casey's General Stores stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $555.40, for a total value of $1,936,679.80. Following the completion of the transaction, the insider owned 7,993 shares in the company, valued at approximately $4,439,312.20. The trade was a 30.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.54% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CASY. The Goldman Sachs Group boosted their price target on Casey's General Stores from $450.00 to $490.00 and gave the company a "neutral" rating in a research note on Wednesday, September 10th. Wells Fargo & Company began coverage on Casey's General Stores in a research report on Wednesday. They set an "overweight" rating and a $610.00 price objective on the stock. Jefferies Financial Group raised their target price on Casey's General Stores from $575.00 to $600.00 and gave the stock a "buy" rating in a research report on Tuesday, September 9th. KeyCorp lifted their price target on shares of Casey's General Stores from $550.00 to $575.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Finally, Stephens reaffirmed an "overweight" rating and set a $570.00 price objective on shares of Casey's General Stores in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $536.10.

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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