MGO One Seven LLC Raises Holdings in Casey's General Stores, Inc. $CASY

Key Points

• MGO One Seven LLC increased its holdings in Casey's General Stores by 93.9%, owning 9,898 shares valued at approximately $5.05 million following a purchase of 4,792 additional shares.
• Various analysts recently raised their price targets for Casey's General Stores, with estimates now ranging from $490.00 to $600.00, indicating a positive outlook on the stock's performance.
• Casey's General Stores is set to pay a quarterly dividend of $0.57 on November 14th, contributing to an annualized yield of 0.4% based on its current pricing.

MGO One Seven LLC grew its position in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 93.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,898 shares of the company's stock after purchasing an additional 4,792 shares during the period. MGO One Seven LLC's holdings in Casey's General Stores were worth $5,051,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Summit Securities Group LLC acquired a new position in Casey's General Stores during the first quarter worth $32,000. Iron Horse Wealth Management LLC lifted its stake in 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 purchasing an additional 26 shares in the last quarter. WPG Advisers LLC acquired a new position in Casey's General Stores during the first quarter worth $47,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Casey's General Stores by 242.9% during the second 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 in the last quarter. Finally, Wayfinding Financial LLC acquired a new position in Casey's General Stores during the first quarter worth $59,000. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on CASY. BMO Capital Markets upped their price target on Casey's General Stores from $515.00 to $540.00 and gave the stock a "market perform" rating in a research note on Wednesday, September 10th. The Goldman Sachs Group increased their price objective 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. 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 note on Friday, July 25th. Jefferies Financial Group increased their price objective on Casey's General Stores from $575.00 to $600.00 and gave the company a "buy" rating in a research note on Tuesday, September 9th. Finally, Wells Fargo & Company increased their price objective on Casey's General Stores from $540.00 to $580.00 and gave the company an "overweight" rating in a research note on Monday, September 8th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $533.10.

Insiders Place Their Bets

In other Casey's General Stores news, insider Chad Michael Frazell sold 3,487 shares of the firm's stock in a transaction on Monday, September 29th. The stock was sold at an average price of $555.40, for a total value of $1,936,679.80. Following the sale, the insider directly owned 7,993 shares in the company, valued at $4,439,312.20. This trade represents a 30.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

Casey's General Stores Stock Up 0.8%

Casey's General Stores stock opened at $556.67 on Monday. Casey's General Stores, Inc. has a 1-year low of $372.08 and a 1-year high of $571.57. 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 stock has a market cap of $20.70 billion, a PE ratio of 35.73 and a beta of 0.68. The stock's fifty day moving average is $529.63 and its two-hundred day moving average is $494.15.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its quarterly earnings results on Monday, September 8th. The company reported $5.77 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $4.47 billion. During the same period last year, the firm earned $4.83 earnings per share. Casey's General Stores's quarterly revenue was up 11.5% on a year-over-year basis. On average, sell-side analysts expect that Casey's General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey's General Stores Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders 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 dividend on an annualized basis and a yield of 0.4%. Casey's General Stores's dividend payout ratio (DPR) is currently 14.63%.

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.

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