WealthPlan Investment Management LLC Raises Stock Holdings in Casey's General Stores, Inc. $CASY

Key Points

• WealthPlan Investment Management LLC increased its stake in Casey's General Stores by 1.7%, now holding 38,957 shares, marking it as their 12th largest investment.
• In the latest quarter, Casey's General Stores reported an EPS of $5.77, surpassing expectations and showing a revenue increase of 11.5% year-over-year.
• Casey's General Stores announced a quarterly dividend of $0.57 per share, with an upcoming ex-dividend date of October 31st.

WealthPlan Investment Management LLC increased its position in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 1.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,957 shares of the company's stock after purchasing an additional 654 shares during the period. Casey's General Stores accounts for 1.4% of WealthPlan Investment Management LLC's portfolio, making the stock its 12th biggest position. WealthPlan Investment Management LLC owned approximately 0.10% of Casey's General Stores worth $19,879,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of CASY. Summit Securities Group LLC purchased a new stake in shares of Casey's General Stores in the first quarter worth $32,000. Iron Horse Wealth Management LLC grew its stake in shares of 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 acquiring an additional 26 shares during the last quarter. WPG Advisers LLC purchased a new stake in shares of Casey's General Stores in the first quarter worth $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 worth $49,000 after acquiring an additional 68 shares during the last quarter. Finally, Wayfinding Financial LLC purchased a new stake in shares of Casey's General Stores in the first quarter worth $59,000. 85.63% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Casey's General Stores news, insider Chad Michael Frazell sold 3,487 shares of the stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $555.40, for a total value of $1,936,679.80. Following the transaction, the insider owned 7,993 shares of the company's stock, valued at approximately $4,439,312.20. This represents a 30.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.54% of the company's stock.

Casey's General Stores Trading Up 0.5%

Casey's General Stores stock opened at $564.17 on Thursday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.03 and a quick ratio of 0.61. 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 capitalization of $20.98 billion, a PE ratio of 36.21 and a beta of 0.68. The business's fifty day moving average is $532.26 and its 200 day moving average is $496.02.

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. On average, sell-side analysts predict that Casey's General Stores, Inc. will post 13.94 EPS for the current year.

Casey's General Stores Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Evercore ISI increased their target price on Casey's General Stores from $560.00 to $580.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 10th. The Goldman Sachs Group increased their target price on Casey's General Stores from $450.00 to $490.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 10th. KeyCorp increased their target price on Casey's General Stores from $550.00 to $575.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Stephens reaffirmed an "overweight" rating and set a $570.00 price objective on shares of Casey's General Stores in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company initiated coverage on Casey's General Stores in a research report on Wednesday. They set an "overweight" rating and a $610.00 price objective on the stock. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $536.10.

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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