Raleigh Capital Management Inc. Increases Position in Casey’s General Stores, Inc. $CASY

Raleigh Capital Management Inc. grew its holdings in Casey’s General Stores, Inc. (NASDAQ:CASY) by 19.5% during the second quarter, HoldingsChannel reports. The firm owned 663 shares of the company’s stock after acquiring an additional 108 shares during the period. Raleigh Capital Management Inc.’s holdings in Casey’s General Stores were worth $338,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Versant Capital Management Inc acquired a new stake in shares of Casey’s General Stores in the first quarter valued at approximately $25,000. Summit Securities Group LLC acquired a new position in Casey’s General Stores during the first quarter worth $32,000. Iron Horse Wealth Management LLC grew its holdings in Casey’s General Stores by 40.0% in the 1st quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company’s stock valued at $40,000 after buying an additional 26 shares in the last quarter. WPG Advisers LLC acquired a new stake in shares of Casey’s General Stores in the 1st quarter worth $47,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Casey’s General Stores by 242.9% in the 2nd 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. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity 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 value of $1,936,679.80. Following the completion of the sale, the insider directly owned 7,993 shares of the company’s stock, valued at approximately $4,439,312.20. The trade was a 30.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Jefferies Financial Group boosted their price target on shares of Casey’s General Stores from $575.00 to $600.00 and gave the company a “buy” rating in a research report on Tuesday, September 9th. Royal Bank Of Canada lifted their target price on shares of Casey’s General Stores from $468.00 to $542.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 9th. Evercore ISI increased their price target on shares of Casey’s General Stores from $560.00 to $580.00 and gave the company an “outperform” rating in a research note on Wednesday, September 10th. Stephens restated an “overweight” rating and set a $530.00 price target on shares of Casey’s General Stores in a report on Tuesday, September 9th. Finally, Wall Street Zen raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Saturday, June 14th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $529.10.

Casey’s General Stores Trading Up 0.8%

Shares of CASY stock opened at $565.32 on Wednesday. Casey’s General Stores, Inc. has a 1-year low of $363.00 and a 1-year high of $571.57. The firm has a market cap of $21.02 billion, a PE ratio of 36.29 and a beta of 0.66. The company has a 50-day moving average of $524.20 and a two-hundred day moving average of $485.23. 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 (NASDAQ:CASY) last issued its quarterly earnings data on Monday, September 8th. The company reported $5.77 EPS for the quarter, topping the consensus estimate of $5.02 by $0.75. The firm had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.47 billion. Casey’s General Stores had a net margin of 3.54% and a return on equity of 16.73%. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the prior year, the business posted $4.83 EPS. On average, 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 declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Saturday, November 1st will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Friday, October 31st. Casey’s General Stores’s dividend payout ratio (DPR) is currently 14.63%.

Casey’s General Stores Company 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.