Precision Wealth Strategies LLC Purchases New Position in Casey's General Stores, Inc. $CASY

Key Points

• Precision Wealth Strategies LLC has acquired a new stake in Casey's General Stores, purchasing 469 shares valued at approximately $240,000 during the second quarter.
• The company reported a quarterly EPS of $5.77, exceeding analysts' expectations by $0.75, along with a revenue of $4.57 billion, reflecting an 11.5% year-over-year increase.
• Casey's General Stores has announced a quarterly dividend of $0.57 per share, set to be paid on November 14, 2023, indicating a stable payout ratio of 14.63%.

Precision Wealth Strategies LLC purchased a new stake in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 469 shares of the company's stock, valued at approximately $240,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. JLB & Associates Inc. grew its holdings in shares of Casey's General Stores by 4.1% during the 2nd quarter. JLB & Associates Inc. now owns 46,797 shares of the company's stock valued at $23,879,000 after purchasing an additional 1,823 shares during the last quarter. Raleigh Capital Management Inc. grew its holdings in shares of Casey's General Stores by 19.5% during the 2nd quarter. Raleigh Capital Management Inc. now owns 663 shares of the company's stock valued at $338,000 after purchasing an additional 108 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in Casey's General Stores by 255.0% during the 2nd quarter. Janney Montgomery Scott LLC now owns 18,920 shares of the company's stock worth $9,654,000 after buying an additional 13,591 shares during the period. Genesis Private Wealth LLC acquired a new stake in Casey's General Stores during the 2nd quarter worth approximately $227,000. Finally, Smith Salley Wealth Management boosted its position in Casey's General Stores by 2.1% during the 2nd quarter. Smith Salley Wealth Management now owns 30,656 shares of the company's stock worth $15,643,000 after buying an additional 621 shares during the period. 85.63% of the stock is owned by institutional investors.

Casey's General Stores Stock Up 0.4%

Shares of NASDAQ CASY opened at $561.40 on Friday. The company has a market capitalization of $20.87 billion, a P/E ratio of 36.03 and a beta of 0.68. Casey's General Stores, Inc. has a 52-week low of $363.00 and a 52-week high of $571.57. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.61 and a current ratio of 1.03. The company's 50 day moving average price is $525.61 and its 200-day moving average price is $486.86.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its quarterly earnings results on Monday, September 8th. The company reported $5.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.02 by $0.75. The firm had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.47 billion. Casey's General Stores had a net margin of 3.54% and a return on equity of 16.73%. The company's revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.83 EPS. Equities analysts forecast that Casey's General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey's General Stores Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Saturday, November 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 0.4%. The ex-dividend date is Friday, October 31st. Casey's General Stores's payout ratio is presently 14.63%.

Insider Activity

In related news, insider Chad Michael Frazell sold 3,487 shares of the business's stock in a transaction on Monday, September 29th. The shares were sold at an average price of $555.40, for a total transaction of $1,936,679.80. Following the transaction, the insider owned 7,993 shares in the company, valued at $4,439,312.20. The trade was a 30.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.54% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Casey's General Stores from $540.00 to $580.00 and gave the stock an "overweight" rating in a research report on Monday, September 8th. BMO Capital Markets lifted their target price on shares of Casey's General Stores from $515.00 to $540.00 and gave the stock a "market perform" rating in a research report on Wednesday, September 10th. Stephens reiterated an "overweight" rating and set a $530.00 target price on shares of Casey's General Stores in a research report on Tuesday, September 9th. Jefferies Financial Group lifted their target price on shares of Casey's General Stores from $575.00 to $600.00 and gave the stock a "buy" rating in a research report on Tuesday, September 9th. Finally, KeyCorp lifted their target price on shares of Casey's General Stores from $550.00 to $575.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $529.10.

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.

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