Moran Wealth Management LLC Boosts Stock Position in Casey's General Stores, Inc. $CASY

Key Points

• Moran Wealth Management increased its stake in Casey's General Stores by 183.2% in the first quarter, ending with 28,627 shares valued at about $20.8 million.
• Analysts remain generally positive on CASY, with a consensus rating of Moderate Buy and an average price target of $939.29; several firms recently raised or reaffirmed targets.
• Casey's reported strong quarterly results and raised its dividend to $0.65 per share from $0.57, while shares recently opened at $797.42.

Moran Wealth Management LLC lifted its holdings in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 183.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 28,627 shares of the company's stock after acquiring an additional 18,517 shares during the period. Moran Wealth Management LLC owned 0.08% of Casey's General Stores worth $20,836,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CASY. Northwestern Mutual Wealth Management Co. lifted its position in Casey's General Stores by 179,938.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,659,164 shares of the company's stock valued at $1,469,747,000 after acquiring an additional 2,657,687 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Casey's General Stores by 40.9% during the fourth quarter. Franklin Resources Inc. now owns 1,068,682 shares of the company's stock worth $590,671,000 after purchasing an additional 310,470 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Casey's General Stores by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 760,438 shares of the company's stock worth $420,416,000 after purchasing an additional 52,250 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Casey's General Stores by 12.6% in the 4th quarter. Invesco Ltd. now owns 572,152 shares of the company's stock valued at $316,234,000 after purchasing an additional 64,154 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Casey's General Stores in the 4th quarter valued at about $265,163,000. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CASY has been the subject of several research analyst reports. Evercore reissued an "outperform" rating and issued a $990.00 price objective on shares of Casey's General Stores in a report on Friday, June 12th. The Goldman Sachs Group upped their target price on shares of Casey's General Stores from $695.00 to $795.00 and gave the company a "neutral" rating in a report on Thursday, June 25th. BNP Paribas Exane lowered their target price on Casey's General Stores from $1,032.00 to $995.00 and set an "outperform" rating on the stock in a research note on Thursday, June 25th. UBS Group increased their price target on Casey's General Stores from $805.00 to $945.00 and gave the stock a "neutral" rating in a report on Thursday, June 11th. Finally, Jefferies Financial Group upped their price objective on shares of Casey's General Stores from $700.00 to $780.00 and gave the stock a "buy" rating in a research report on Tuesday, March 10th. Thirteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $939.29.

Insider Transactions at Casey's General Stores

In related news, Director Mike Spanos acquired 256 shares of the firm's stock in a transaction that occurred on Friday, June 26th. The shares were acquired at an average price of $778.81 per share, with a total value of $199,375.36. Following the completion of the purchase, the director directly owned 4,758 shares in the company, valued at approximately $3,705,577.98. The trade was a 5.69% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chad Michael Frazell sold 3,013 shares of the business's stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $787.49, for a total transaction of $2,372,707.37. Following the completion of the transaction, the insider directly owned 9,823 shares of the company's stock, valued at $7,735,514.27. The trade was a 23.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.54% of the company's stock.

Casey's General Stores Stock Performance

Shares of CASY stock opened at $797.42 on Friday. The stock has a market cap of $29.51 billion, a P/E ratio of 41.62, a P/E/G ratio of 2.40 and a beta of 0.62. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. Casey's General Stores, Inc. has a fifty-two week low of $490.00 and a fifty-two week high of $927.85. The business has a fifty day simple moving average of $820.92 and a 200-day simple moving average of $712.84.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, beating the consensus estimate of $3.31 by $1.06. The firm had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.33 billion. Casey's General Stores had a net margin of 4.07% and a return on equity of 18.73%. The firm's revenue for the quarter was up 14.5% on a year-over-year basis. During the same period last year, the firm posted $2.63 EPS. On average, analysts forecast that Casey's General Stores, Inc. will post 21.05 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 14th. Shareholders of record on Saturday, August 1st will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, July 31st. This is a positive change from Casey's General Stores's previous quarterly dividend of $0.57. This represents a $2.60 annualized dividend and a yield of 0.3%. Casey's General Stores's dividend payout ratio (DPR) is 11.90%.

Casey's General Stores Profile

Casey's General Stores, Inc NASDAQ: CASY is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company's stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.

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