NWK Group Inc. Acquires Shares of 1,658 Casey's General Stores, Inc. $CASY

Key Points

• NWK Group initiated a position in Casey’s General Stores by purchasing 1,658 shares valued at approximately $1.32 million. Institutional investors collectively own 85.63% of the company.
• Analysts remain broadly positive, with 14 Buy ratings and six Holds, producing a consensus “Moderate Buy” rating and an average price target of $944.20.
• Casey’s reported quarterly earnings of $4.37 per share, well above the $3.31 consensus estimate, while revenue rose 14.5% year over year. The company also increased its quarterly dividend to $0.65 per share.

NWK Group Inc. purchased a new position in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,658 shares of the company's stock, valued at approximately $1,318,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CASY. Bell Investment Advisors Inc purchased a new stake in shares of Casey's General Stores during the second quarter valued at $33,000. Whipplewood Advisors LLC bought a new stake in shares of Casey's General Stores during the 1st quarter valued at $33,000. RMG Wealth Management LLC grew its holdings in Casey's General Stores by 250.0% during the first quarter. RMG Wealth Management LLC now owns 56 shares of the company's stock valued at $41,000 after purchasing an additional 40 shares during the period. Johnson Financial Group Inc. bought a new position in shares of Casey's General Stores during the 2nd quarter valued at approximately $55,000. Finally, Western Pacific Wealth Management LP purchased a new stake in shares of Casey's General Stores in the first quarter worth $52,000. 85.63% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Wells Fargo & Company lifted their target price on Casey's General Stores from $910.00 to $960.00 and gave the company an "overweight" rating in a research note on Thursday, June 11th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $913.00 price target on shares of Casey's General Stores in a report on Wednesday, July 29th. Stephens set a $975.00 price objective on shares of Casey's General Stores and gave the stock an "overweight" rating in a research note on Friday, June 12th. Wall Street Zen upgraded Casey's General Stores from a "hold" rating to a "buy" rating in a research report on Saturday, June 13th. Finally, William Blair initiated coverage on shares of Casey's General Stores in a report on Wednesday, May 20th. They issued an "outperform" rating on the stock. Fourteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $944.20.

Insider Transactions at Casey's General Stores

In related news, insider Katrina S. Lindsey sold 2,000 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $800.00, for a total value of $1,600,000.00. Following the transaction, the insider owned 6,668 shares in the company, valued at approximately $5,334,400. This represents a 23.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Darren M. Rebelez sold 19,000 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $801.46, for a total transaction of $15,227,740.00. Following the completion of the sale, the chief executive officer owned 89,174 shares in the company, valued at $71,469,394.04. The trade was a 17.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 30,243 shares of company stock valued at $24,421,877 over the last quarter. Company insiders own 0.67% of the company's stock.

Casey's General Stores Stock Performance

Shares of CASY opened at $836.15 on Thursday. The company has a current ratio of 1.01, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59. The firm has a market cap of $30.95 billion, a PE ratio of 43.64, a P/E/G ratio of 2.56 and a beta of 0.61. The stock has a fifty day moving average price of $840.22 and a 200-day moving average price of $773.90. Casey's General Stores, Inc. has a 12 month low of $490.00 and a 12 month high of $927.85.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, topping analysts' consensus estimates of $3.31 by $1.06. The business had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.33 billion. Casey's General Stores had a return on equity of 18.73% and a net margin of 4.07%.The company's revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.63 earnings per share. Equities research analysts predict that Casey's General Stores, Inc. will post 21.14 earnings per share for the current fiscal year.

Casey's General Stores Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Saturday, August 1st were issued a $0.65 dividend. This is a boost from Casey's General Stores's previous quarterly dividend of $0.57. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Friday, July 31st. Casey's General Stores's dividend payout ratio is currently 13.57%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source