Assetmark Inc. Acquires 13,424 Shares of Casey’s General Stores, Inc. $CASY

Assetmark Inc. increased its holdings in Casey’s General Stores, Inc. (NASDAQ:CASY) by 510.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,055 shares of the company’s stock after acquiring an additional 13,424 shares during the period. Assetmark Inc.’s holdings in Casey’s General Stores were worth $11,686,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Central Pacific Bank Trust Division increased its holdings in Casey’s General Stores by 52.8% during the 4th quarter. Central Pacific Bank Trust Division now owns 55 shares of the company’s stock worth $30,000 after purchasing an additional 19 shares in the last quarter. True Wealth Design LLC grew its holdings in Casey’s General Stores by 350.0% during the fourth quarter. True Wealth Design LLC now owns 54 shares of the company’s stock worth $30,000 after buying an additional 42 shares in the last quarter. Whipplewood Advisors LLC purchased a new stake in Casey’s General Stores in the 1st quarter valued at $33,000. ORG Partners LLC grew its stake in shares of Casey’s General Stores by 47.6% in the 4th quarter. ORG Partners LLC now owns 62 shares of the company’s stock worth $34,000 after acquiring an additional 20 shares in the last quarter. Finally, Larson Financial Group LLC grew its stake in shares of Casey’s General Stores by 252.4% in the 4th quarter. Larson Financial Group LLC now owns 74 shares of the company’s stock worth $41,000 after acquiring an additional 53 shares in the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

Insider Activity at Casey’s General Stores

In related news, insider Chad Michael Frazell sold 3,013 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $787.49, for a total transaction of $2,372,707.37. Following the completion of the transaction, the insider directly owned 9,823 shares in the company, valued at $7,735,514.27. The trade was a 23.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the business’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $838.16, for a total value of $4,777,512.00. Following the transaction, the chief financial officer owned 29,677 shares of the company’s stock, valued at approximately $24,874,074.32. The trade was a 16.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 30,243 shares of company stock valued at $24,421,877 in the last ninety days. 0.54% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on CASY. Morgan Stanley raised shares of Casey’s General Stores to a “buy” rating in a research report on Wednesday, June 10th. The Goldman Sachs Group increased their price target on Casey’s General Stores from $695.00 to $795.00 and gave the company a “neutral” rating in a research report on Thursday, June 25th. JPMorgan Chase & Co. lifted their price target on Casey’s General Stores from $719.00 to $975.00 and gave the stock a “neutral” rating in a report on Friday, June 12th. Stephens set a $975.00 price objective on Casey’s General Stores and gave the stock an “overweight” rating in a research report on Friday, June 12th. Finally, Wall Street Zen upgraded Casey’s General Stores from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Fourteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $940.00.

Casey’s General Stores Trading Up 0.9%

NASDAQ:CASY opened at $866.46 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.60. Casey’s General Stores, Inc. has a 1 year low of $490.00 and a 1 year high of $927.85. The company has a market cap of $32.07 billion, a P/E ratio of 45.22, a P/E/G ratio of 2.58 and a beta of 0.62. The stock’s fifty day moving average price is $822.35 and its two-hundred day moving average price is $734.95.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.31 by $1.06. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.The business had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.33 billion. During the same quarter in the prior year, the firm posted $2.63 EPS. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. As a group, analysts expect that Casey’s General Stores, Inc. will post 21.14 EPS for the current year.

Casey’s General Stores Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Saturday, August 1st will be paid a $0.65 dividend. The ex-dividend date is Friday, July 31st. This represents a $2.60 annualized dividend and a yield of 0.3%. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.57. Casey’s General Stores’s dividend payout ratio is currently 11.90%.

About Casey’s General Stores

Casey’s General Stores, Inc (NASDAQ: CASY) is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.