MGO One Seven LLC Purchases 934 Shares of Casey's General Stores, Inc. (NASDAQ:CASY)

Key Points

• MGO One Seven LLC increased its holdings in Casey's General Stores by 22.4% in the first quarter, now owning 5,106 shares valued at approximately $2.22 million.
• Casey's General Stores recently declared a quarterly dividend of $0.57 per share, representing a boost from the previous $0.50, and reflecting an annualized yield of 0.4%.
• Analysts have raised their price targets for Casey's, with a notable increase by The Goldman Sachs Group from $385 to $450, and several firms rating the stock as a "buy."

MGO One Seven LLC lifted its holdings in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 22.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,106 shares of the company's stock after purchasing an additional 934 shares during the quarter. MGO One Seven LLC's holdings in Casey's General Stores were worth $2,216,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the company. Versant Capital Management Inc bought a new stake in shares of Casey's General Stores during the 1st quarter worth $25,000. Global Financial Private Client LLC boosted its position in Casey's General Stores by 325.0% in the first quarter. Global Financial Private Client LLC now owns 68 shares of the company's stock valued at $30,000 after buying an additional 52 shares in the last quarter. Iron Horse Wealth Management LLC boosted its position in Casey's General Stores by 40.0% in the first quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company's stock valued at $40,000 after buying an additional 26 shares in the last quarter. Whipplewood Advisors LLC boosted its position in Casey's General Stores by 160.0% in the first quarter. Whipplewood Advisors LLC now owns 117 shares of the company's stock valued at $51,000 after buying an additional 72 shares in the last quarter. Finally, Wayfinding Financial LLC acquired a new stake in Casey's General Stores in the first quarter valued at approximately $59,000. 85.63% of the stock is owned by institutional investors.

Casey's General Stores Trading Up 1.2%

CASY stock traded up $6.08 during midday trading on Wednesday, hitting $520.83. The stock had a trading volume of 118,279 shares, compared to its average volume of 358,971. The firm has a market cap of $19.36 billion, a P/E ratio of 35.57 and a beta of 0.69. 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, Inc. has a 1-year low of $350.52 and a 1-year high of $531.24. The business has a fifty day moving average price of $501.50 and a two-hundred day moving average price of $454.55.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its quarterly earnings results on Monday, June 9th. The company reported $2.63 earnings per share 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 during the quarter, compared to the consensus estimate of $3.95 billion. During the same period in the previous year, the firm posted $2.34 earnings per share. The business's revenue was up 10.9% compared to the same quarter last year. On average, sell-side analysts predict that Casey's General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey's General Stores Increases Dividend

The business also recently declared 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. This represents a $2.28 annualized dividend and a yield of 0.4%. This is an increase 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 payout ratio is presently 15.57%.

Analysts Set New Price Targets

CASY has been the topic of a number of research analyst reports. Wells Fargo & Company raised 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 report on Wednesday, June 11th. The Goldman Sachs Group raised their target price on shares of 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. KeyCorp raised their target price on shares of Casey's General Stores from $550.00 to $575.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. BMO Capital Markets raised their target price on shares of 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. Finally, Stephens restated an "overweight" rating and issued a $490.00 target price on shares of Casey's General Stores in a research report on Tuesday, June 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $467.33.

Insider Transactions at Casey's General Stores

In other Casey's General Stores news, Director Mike Spanos bought 200 shares of the firm's stock in a transaction dated Monday, June 30th. The stock was bought at an average cost of $503.18 per share, with a total value of $100,636.00. Following the completion of the transaction, the director directly owned 3,560 shares in the company, valued at approximately $1,791,320.80. The trade was a 5.95% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Stephen P. Bramlage, Jr. sold 760 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $507.56, for a total transaction of $385,745.60. Following the sale, the chief financial officer directly owned 25,994 shares of the company's stock, valued at approximately $13,193,514.64. The trade was a 2.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,646 shares of company stock valued at $22,136,614. 0.54% of the stock is owned by insiders.

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.