Ascentis Independent Advisors Grows Stake in Casey’s General Stores, Inc. $CASY

Ascentis Independent Advisors increased its holdings in Casey’s General Stores, Inc. (NASDAQ:CASY) by 183.4% during the first quarter, Holdings Channel reports. The firm owned 2,026 shares of the company’s stock after acquiring an additional 1,311 shares during the quarter. Ascentis Independent Advisors’ holdings in Casey’s General Stores were worth $1,475,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CASY. True Wealth Design LLC raised its position in shares of Casey’s General Stores by 350.0% during the fourth quarter. True Wealth Design LLC now owns 54 shares of the company’s stock valued at $30,000 after buying an additional 42 shares during the last quarter. Central Pacific Bank Trust Division boosted its position in shares of Casey’s General Stores by 52.8% during the fourth quarter. Central Pacific Bank Trust Division now owns 55 shares of the company’s stock worth $30,000 after acquiring an additional 19 shares during the last quarter. Vermillion & White Wealth Management Group LLC bought a new position in shares of Casey’s General Stores during the third quarter worth $35,000. ORG Partners LLC grew its stake in Casey’s General Stores by 47.6% during the fourth quarter. ORG Partners LLC now owns 62 shares of the company’s stock valued at $34,000 after acquiring an additional 20 shares in the last quarter. Finally, Western Pacific Wealth Management LP purchased a new position in Casey’s General Stores during the first quarter valued at $52,000. 85.63% of the stock is currently owned by institutional investors.

Casey’s General Stores Stock Performance

NASDAQ:CASY opened at $807.18 on Tuesday. The firm has a market capitalization of $29.87 billion, a PE ratio of 42.13, a PEG ratio of 2.40 and a beta of 0.62. The stock’s fifty day moving average is $821.26 and its 200 day moving average is $715.80. Casey’s General Stores, Inc. has a fifty-two week low of $490.00 and a fifty-two week high of $927.85. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 1.01.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, topping the consensus estimate of $3.31 by $1.06. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. The company had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.33 billion. During the same period in the previous year, the firm earned $2.63 earnings per share. Casey’s General Stores’s quarterly revenue was up 14.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Casey’s General Stores, Inc. will post 21.05 earnings per share for the current year.

Casey’s General Stores Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CASY. Stephens set a $975.00 price target on shares of Casey’s General Stores and gave the company an “overweight” rating in a report on Friday, June 12th. Wells Fargo & Company boosted their target price on Casey’s General Stores from $910.00 to $960.00 and gave the stock an “overweight” rating in a research report on Thursday, June 11th. BNP Paribas Exane dropped their price target on Casey’s General Stores from $1,032.00 to $995.00 and set an “outperform” rating for the company in a research note on Thursday, June 25th. Zacks Research cut Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Finally, Jefferies Financial Group lifted their price objective on Casey’s General Stores from $700.00 to $780.00 and gave the stock a “buy” rating in a research note on Tuesday, March 10th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $939.29.

Insider Buying and Selling at Casey’s General Stores

In other Casey’s General Stores news, Director Mike Spanos acquired 256 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The stock was bought at an average price of $778.81 per share, for a total transaction of $199,375.36. Following the acquisition, the director directly owned 4,758 shares in the company, valued at $3,705,577.98. The trade was a 5.69% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chad Michael Frazell sold 3,013 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $787.49, for a total value of $2,372,707.37. Following the transaction, the insider owned 9,823 shares of the company’s stock, valued at approximately $7,735,514.27. The trade was a 23.47% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.54% of the company’s stock.

Casey’s General Stores Company Profile

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.