Promethium Advisors LLC Has $1.68 Million Stock Holdings in Casey's General Stores, Inc. $CASY

Key Points

• Promethium Advisors LLC increased its stock position in Casey's General Stores, Inc. by 17.4% during the first quarter, totaling $1.68 million for 3,870 shares owned.
• Insider Chad Michael Frazell sold 4,808 shares at an average price of $503.97, resulting in a significant decrease in his holdings by 29.52%.
• Casey's General Stores reported quarterly earnings of $2.63 per share, exceeding expectations, and announced an increase in its quarterly dividend from $0.50 to $0.57 per share.

Promethium Advisors LLC lifted its position in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 17.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,870 shares of the company's stock after acquiring an additional 574 shares during the quarter. Promethium Advisors LLC's holdings in Casey's General Stores were worth $1,680,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc bought a new stake in shares of Casey's General Stores during the first quarter worth $25,000. Global Financial Private Client LLC increased its holdings in Casey's General Stores by 325.0% in the first 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 last quarter. Summit Securities Group LLC bought a new stake in Casey's General Stores in the first quarter valued at about $32,000. Iron Horse Wealth Management LLC increased 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 valued at $40,000 after purchasing an additional 26 shares during the last quarter. Finally, WPG Advisers LLC bought a new stake in Casey's General Stores in the first quarter valued at about $47,000. Institutional investors own 85.63% of the company's stock.

Insider Activity at Casey's General Stores

In other news, insider Katrina S. Lindsey sold 2,000 shares of the company's stock in a transaction dated 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 $2,346,140.52. This represents a 30.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Stephen P. Bramlage, Jr. sold 8,478 shares of the company's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $509.21, for a total value of $4,317,082.38. Following the transaction, the chief financial officer directly owned 26,754 shares of the company's stock, valued at $13,623,404.34. This represents a 24.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,646 shares of company stock valued at $22,136,614 over the last ninety days. Company insiders own 0.54% of the company's stock.

Casey's General Stores Trading Up 1.5%

NASDAQ:CASY traded up $7.46 on Friday, reaching $505.64. The company's stock had a trading volume of 279,698 shares, compared to its average volume of 212,510. Casey's General Stores, Inc. has a 1-year low of $362.42 and a 1-year high of $531.24. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.48 and a current ratio of 0.92. The firm has a market cap of $18.80 billion, a PE ratio of 34.54 and a beta of 0.66. The business's 50-day moving average price is $513.38 and its two-hundred day moving average price is $467.77.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its quarterly earnings data on Monday, June 9th. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.69. The company had revenue of $3.99 billion during the quarter, compared to analysts' expectations of $3.95 billion. Casey's General Stores had a return on equity of 16.28% and a net margin of 3.43%.Casey's General Stores's revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.34 earnings per share. Equities research analysts anticipate that Casey's General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on CASY. KeyCorp upped their price objective on Casey's General Stores from $550.00 to $575.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Wall Street Zen upgraded Casey's General Stores from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. BMO Capital Markets upped their price objective on Casey's General Stores from $450.00 to $515.00 and gave the company a "market perform" rating in a report on Wednesday, June 11th. Royal Bank Of Canada upped their price objective on Casey's General Stores from $468.00 to $542.00 and gave the company a "sector perform" rating in a report on Wednesday, July 9th. Finally, The Goldman Sachs Group boosted their target price on Casey's General Stores from $385.00 to $450.00 and gave the company a "neutral" rating in a research note on Wednesday, June 11th. Eight research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Casey's General Stores has an average rating of "Moderate Buy" and an average price target of $467.33.

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.