Stratos Wealth Partners LTD. Acquires 489 Shares of Casey's General Stores, Inc. $CASY

Key Points

• Stratos Wealth Partners LTD. increased its holdings in Casey's General Stores by 3.5% in Q2, acquiring 489 additional shares, bringing its total to 14,364 shares valued at approximately $7.33 million.
• Insider Chad Michael Frazell sold 3,487 shares at an average price of $555.40, representing a 30.37% decrease in his ownership, leaving him with 7,993 shares valued at around $4.44 million.
• Casey's General Stores announced a quarterly dividend of $0.57 per share, to be paid on November 14th, reflecting a 0.4% yield based on a payout ratio of 14.63%.

Stratos Wealth Partners LTD. raised its holdings in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 3.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,364 shares of the company's stock after acquiring an additional 489 shares during the quarter. Stratos Wealth Partners LTD.'s holdings in Casey's General Stores were worth $7,330,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CASY. Summit Securities Group LLC bought a new position in shares of Casey's General Stores during the 1st quarter worth approximately $32,000. Iron Horse Wealth Management LLC grew its stake in shares of Casey's General Stores by 40.0% during the 1st quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company's stock worth $40,000 after acquiring an additional 26 shares in the last quarter. WPG Advisers LLC bought a new position in shares of Casey's General Stores during the 1st quarter worth approximately $47,000. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of 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 valued at $49,000 after buying an additional 68 shares in the last quarter. Finally, Wayfinding Financial LLC bought a new position in shares of Casey's General Stores in the first quarter valued at $59,000. 85.63% of the stock is owned by institutional investors.

Insider Buying and Selling at Casey's General Stores

In other news, insider Chad Michael Frazell sold 3,487 shares of Casey's General Stores 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 completion of the sale, the insider owned 7,993 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.54% of the company's stock.

Casey's General Stores Trading Up 1.0%

CASY stock opened at $567.05 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.03 and a quick ratio of 0.61. The company has a fifty day moving average price of $534.08 and a two-hundred day moving average price of $497.77. Casey's General Stores, Inc. has a one year low of $372.08 and a one year high of $572.18. The stock has a market cap of $21.08 billion, a price-to-earnings ratio of 36.40 and a beta of 0.68.

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, topping analysts' consensus estimates of $5.02 by $0.75. Casey's General Stores had a net margin of 3.54% and a return on equity of 16.73%. The firm had revenue of $4.57 billion during the quarter, compared to analysts' expectations of $4.47 billion. During the same period in the previous year, the business posted $4.83 earnings per share. The company's revenue for the quarter was up 11.5% compared to the same quarter last year. Equities analysts anticipate that Casey's General Stores, Inc. will post 13.94 EPS for the current year.

Casey's General Stores Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Saturday, November 1st will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.4%. Casey's General Stores's dividend payout ratio (DPR) is currently 14.63%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CASY. Wells Fargo & Company began coverage on shares of Casey's General Stores in a research note on Wednesday. They issued an "overweight" rating and a $610.00 target price for the company. Stephens reissued an "overweight" rating and issued a $570.00 target price on shares of Casey's General Stores in a research note on Wednesday, October 8th. BMO Capital Markets raised their target price on shares of Casey's General Stores from $515.00 to $540.00 and gave the company a "market perform" rating in a research note on Wednesday, September 10th. The Goldman Sachs Group raised their target price on shares of Casey's General Stores from $450.00 to $490.00 and gave the company a "neutral" rating in a research note on Wednesday, September 10th. Finally, KeyCorp raised their target price on shares of Casey's General Stores from $550.00 to $575.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $536.10.

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.

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