Legacy Capital Wealth Partners LLC Takes $238,000 Position in Casey's General Stores, Inc. (NASDAQ:CASY)

Legacy Capital Wealth Partners LLC bought a new stake in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 547 shares of the company's stock, valued at approximately $238,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. James Investment Research Inc. raised its holdings in Casey's General Stores by 4.5% in the 1st quarter. James Investment Research Inc. now owns 8,946 shares of the company's stock worth $3,883,000 after acquiring an additional 385 shares during the period. Segall Bryant & Hamill LLC increased its stake in Casey's General Stores by 2.0% in the first quarter. Segall Bryant & Hamill LLC now owns 54,403 shares of the company's stock valued at $23,613,000 after acquiring an additional 1,073 shares during the period. Tectonic Advisors LLC boosted its position in Casey's General Stores by 3.9% in the first quarter. Tectonic Advisors LLC now owns 1,152 shares of the company's stock valued at $500,000 after buying an additional 43 shares in the last quarter. PAX Financial Group LLC boosted its position in Casey's General Stores by 9.5% in the first quarter. PAX Financial Group LLC now owns 1,530 shares of the company's stock valued at $664,000 after buying an additional 133 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in Casey's General Stores by 4.6% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 15,433 shares of the company's stock valued at $6,698,000 after buying an additional 673 shares in the last quarter. Institutional investors and hedge funds own 85.63% of the company's stock.

Casey's General Stores Stock Performance

Shares of NASDAQ CASY traded down $5.42 during mid-day trading on Friday, reaching $510.25. 214,496 shares of the company were exchanged, compared to its average volume of 306,493. Casey's General Stores, Inc. has a twelve month low of $350.52 and a twelve month high of $526.82. The company has a quick ratio of 0.48, a current ratio of 0.92 and a debt-to-equity ratio of 0.69. The company's 50-day simple moving average is $483.00 and its 200-day simple moving average is $443.69. The stock has a market capitalization of $18.97 billion, a P/E ratio of 34.85 and a beta of 0.69.

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

Casey's General Stores Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 0.45%. This is a boost from Casey's General Stores's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, August 1st. Casey's General Stores's dividend payout ratio is currently 15.57%.

Insider Activity at Casey's General Stores

In related news, insider Chad Michael Frazell sold 4,808 shares of the business's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $503.97, for a total value of $2,423,087.76. Following the sale, the insider owned 11,480 shares of the company's stock, valued at $5,785,575.60. The trade was a 29.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 completion of the sale, the insider directly owned 4,636 shares in the company, valued at approximately $2,346,140.52. This represents a 30.14% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,646 shares of company stock valued at $22,136,614. 0.56% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CASY. KeyCorp upped their target price on shares of Casey's General Stores from $500.00 to $550.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 11th. Wells Fargo & Company upped their target price on shares of Casey's General Stores from $460.00 to $540.00 and gave the company an "overweight" rating in a research note on Wednesday, June 11th. Evercore ISI increased their price objective on shares of Casey's General Stores from $450.00 to $460.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 1st. Wall Street Zen raised shares of Casey's General Stores from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Finally, Royal Bank Of Canada raised their target price on shares of 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $465.25.

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.