Private Wealth Asset Management LLC Acquires 593 Shares of Casey's General Stores, Inc. $CASY

Key Points

• Private Wealth Asset Management LLC increased its stake in Casey's General Stores by 88.5%, acquiring an additional 593 shares in Q2, bringing its total holdings to 1,263 shares worth $644,000.
• Casey's General Stores reported $5.77 EPS for the most recent quarter, exceeding estimates by $0.75, with revenue of $4.57 billion, an increase of 11.5% year-over-year.
• In the latest dividend announcement, investors will receive $0.57 per share on November 14th, representing a 0.4% dividend yield.

Private Wealth Asset Management LLC lifted its holdings in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 88.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,263 shares of the company's stock after acquiring an additional 593 shares during the quarter. Private Wealth Asset Management LLC's holdings in Casey's General Stores were worth $644,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CASY. Summit Securities Group LLC bought a new position in Casey's General Stores in the first quarter worth $32,000. Iron Horse Wealth Management LLC raised its holdings in Casey's General Stores by 40.0% in 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 bought a new position in Casey's General Stores in the first quarter worth $47,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in Casey's General Stores by 242.9% in 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 bought a new position in Casey's General Stores in the first quarter worth $59,000. Institutional investors own 85.63% of the company's stock.

Casey's General Stores Trading Down 0.8%

NASDAQ CASY opened at $561.19 on Wednesday. Casey's General Stores, Inc. has a 12 month low of $372.08 and a 12 month high of $572.18. The stock has a market cap of $20.87 billion, a P/E ratio of 36.02 and a beta of 0.68. The stock's fifty day moving average price is $531.41 and its 200-day moving average price is $495.55. The company has a current ratio of 1.03, a quick ratio of 0.61 and a debt-to-equity ratio of 0.65.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its quarterly earnings data on Monday, September 8th. The company reported $5.77 EPS for the quarter, beating the consensus estimate 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 posted $4.83 earnings per share. Casey's General Stores's revenue was up 11.5% compared to the same quarter last year. As a group, equities analysts forecast that Casey's General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey's General Stores Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, October 31st. This represents a $2.28 annualized dividend and a dividend yield of 0.4%. Casey's General Stores's dividend payout ratio (DPR) is 14.63%.

Insider Activity at Casey's General Stores

In related news, insider Chad Michael Frazell sold 3,487 shares of the stock in a transaction on Monday, September 29th. The stock was sold at an average price of $555.40, for a total transaction of $1,936,679.80. Following the sale, the insider directly owned 7,993 shares of the company's stock, 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 SEC, which is available at the SEC website. 0.54% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CASY has been the subject of a number of research reports. KeyCorp increased their price objective on Casey's General Stores from $550.00 to $575.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. The Goldman Sachs Group increased their price objective on Casey's General Stores from $450.00 to $490.00 and gave the stock a "neutral" rating in a report on Wednesday, September 10th. BMO Capital Markets increased their price objective on Casey's General Stores from $515.00 to $540.00 and gave the stock a "market perform" rating in a report on Wednesday, September 10th. Evercore ISI increased their price objective on Casey's General Stores from $560.00 to $580.00 and gave the stock an "outperform" rating in a report on Wednesday, September 10th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Casey's General Stores in a research note on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $533.10.

Casey's General Stores 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.