Sagespring Wealth Partners LLC Makes New Investment in Casey’s General Stores, Inc. (NASDAQ:CASY)

Sagespring Wealth Partners LLC acquired a new position in shares of Casey’s General Stores, Inc. (NASDAQ:CASYFree Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 466 shares of the company’s stock, valued at approximately $202,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Natixis increased its holdings in shares of Casey’s General Stores by 21.9% in the 4th quarter. Natixis now owns 8,337 shares of the company’s stock valued at $3,303,000 after acquiring an additional 1,499 shares during the period. Sanctuary Advisors LLC increased its holdings in shares of Casey’s General Stores by 55.6% in the 4th quarter. Sanctuary Advisors LLC now owns 8,579 shares of the company’s stock valued at $3,629,000 after acquiring an additional 3,065 shares during the period. Scholtz & Company LLC acquired a new position in shares of Casey’s General Stores in the 4th quarter valued at $2,375,000. JLB & Associates Inc. increased its holdings in shares of Casey’s General Stores by 1.8% in the 4th quarter. JLB & Associates Inc. now owns 43,029 shares of the company’s stock valued at $17,049,000 after acquiring an additional 749 shares during the period. Finally, Segall Bryant & Hamill LLC increased its holdings in shares of Casey’s General Stores by 9.1% in the 4th quarter. Segall Bryant & Hamill LLC now owns 53,330 shares of the company’s stock valued at $21,131,000 after acquiring an additional 4,458 shares during the period. Institutional investors and hedge funds own 85.63% of the company’s stock.

Insiders Place Their Bets

In other news, insider Katrina S. Lindsey sold 250 shares of the company’s stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $437.01, for a total value of $109,252.50. Following the transaction, the insider now owns 2,443 shares in the company, valued at $1,067,615.43. This represents a 9.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Darren M. Rebelez sold 20,000 shares of the company’s stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $507.83, for a total value of $10,156,600.00. Following the completion of the transaction, the chief executive officer now owns 89,840 shares in the company, valued at $45,623,447.20. This represents a 18.21% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,136 shares of company stock worth $21,860,121. Company insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CASY shares. The Goldman Sachs Group lifted their price objective on shares of Casey’s General Stores from $385.00 to $450.00 and gave the company a “neutral” rating in a research report on Wednesday, June 11th. Wall Street Zen upgraded shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Saturday, June 14th. Evercore ISI boosted their target price on shares of Casey’s General Stores from $450.00 to $460.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 1st. KeyCorp lifted their price target on Casey’s General Stores from $500.00 to $550.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 11th. Finally, Stephens reissued an “overweight” rating and issued a $490.00 target price on shares of Casey’s General Stores in a research note on Tuesday, June 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Casey’s General Stores currently has a consensus rating of “Moderate Buy” and a consensus price target of $453.00.

Read Our Latest Stock Analysis on CASY

Casey’s General Stores Trading Down 1.2%

CASY opened at $500.27 on Friday. Casey’s General Stores, Inc. has a 52-week low of $350.52 and a 52-week high of $512.88. The company has a quick ratio of 0.48, a current ratio of 0.92 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $18.57 billion, a P/E ratio of 34.17, a P/E/G ratio of 2.53 and a beta of 0.65. The firm’s 50 day moving average is $460.38 and its 200-day moving average is $429.29.

Casey’s General Stores (NASDAQ:CASYGet Free Report) last released its quarterly earnings data on Monday, June 9th. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.69. Casey’s General Stores had a net margin of 3.43% and a return on equity of 16.28%. The firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.95 billion. During the same quarter in the previous year, the company posted $2.34 earnings per share. The firm’s revenue was up 10.9% on a year-over-year basis. Analysts expect that Casey’s General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey’s General Stores Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 0.46%. The ex-dividend date is Friday, August 1st. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.50. Casey’s General Stores’s payout ratio is presently 13.66%.

Casey’s General Stores Profile

(Free Report)

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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Institutional Ownership by Quarter for Casey's General Stores (NASDAQ:CASY)

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