Northwest Wealth Management LLC Buys 2,476 Shares of Casey's General Stores, Inc. (NASDAQ:CASY)

Northwest Wealth Management LLC raised its position in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 79.5% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 5,592 shares of the company's stock after acquiring an additional 2,476 shares during the period. Northwest Wealth Management LLC's holdings in Casey's General Stores were worth $2,427,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc acquired a new stake in Casey's General Stores in the 1st quarter valued at $25,000. Global Financial Private Client LLC grew its position in Casey's General Stores by 325.0% in the 1st quarter. Global Financial Private Client LLC now owns 68 shares of the company's stock valued at $30,000 after purchasing an additional 52 shares during the period. Whipplewood Advisors LLC grew its holdings in shares of Casey's General Stores by 160.0% during 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 during the last quarter. Heck Capital Advisors LLC acquired a new position in shares of Casey's General Stores during the fourth quarter valued at about $79,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Casey's General Stores during the fourth quarter valued at about $87,000. Institutional investors and hedge funds own 85.63% of the company's stock.

Insider Activity at Casey's General Stores

In related news, CFO Stephen P. Bramlage, Jr. sold 8,478 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $509.21, for a total value of $4,317,082.38. Following the completion of the transaction, the chief financial officer directly owned 26,754 shares of the company's stock, valued at approximately $13,623,404.34. This trade represents a 24.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Katrina S. Lindsey sold 2,000 shares of the firm's stock in a transaction that occurred 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 transaction, the insider directly owned 4,636 shares of the company's stock, valued at approximately $2,346,140.52. This trade represents a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,136 shares of company stock worth $21,860,121 in the last three months. Corporate insiders own 0.56% of the company's stock.

Casey's General Stores Stock Performance

Shares of NASDAQ:CASY traded down $0.48 during midday trading on Wednesday, reaching $510.16. The company had a trading volume of 140,655 shares, compared to its average volume of 301,724. The company's 50 day moving average price is $467.27 and its 200 day moving average price is $433.56. The company has a current ratio of 0.92, a quick ratio of 0.48 and a debt-to-equity ratio of 0.69. The stock has a market cap of $18.97 billion, a P/E ratio of 34.83, a P/E/G ratio of 2.56 and a beta of 0.69. Casey's General Stores, Inc. has a 52-week low of $350.52 and a 52-week high of $514.32.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its earnings results on Monday, June 9th. The company reported $2.63 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $3.95 billion. During the same period in the previous year, the company earned $2.34 earnings per share. The company's quarterly revenue was up 10.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Casey's General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey's General Stores Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders 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 dividend yield of 0.45%. The ex-dividend date of this dividend is Friday, August 1st. This is a boost from Casey's General Stores's previous quarterly dividend of $0.50. Casey's General Stores's dividend payout ratio is currently 13.66%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Wall Street Zen upgraded Casey's General Stores from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Evercore ISI lifted their target price on Casey's General Stores from $450.00 to $460.00 and gave the company an "outperform" rating in a research report on Tuesday, April 1st. BMO Capital Markets lifted their target price on 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. Stephens reaffirmed an "overweight" rating and set a $490.00 target price on shares of Casey's General Stores in a research report on Tuesday, June 10th. Finally, Wells Fargo & Company lifted their price objective on shares of Casey's General Stores from $460.00 to $540.00 and gave the stock an "overweight" rating in a report on Wednesday, June 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $453.00.

About Casey's General Stores

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.