Casey’s General Stores, Inc. $CASY Stake Boosted by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its stake in Casey’s General Stores, Inc. (NASDAQ:CASY) by 9.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 448,919 shares of the company’s stock after purchasing an additional 37,625 shares during the quarter. Envestnet Asset Management Inc. owned approximately 1.21% of Casey’s General Stores worth $229,070,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CASY. Summit Securities Group LLC purchased a new position in Casey’s General Stores in the 1st quarter worth about $32,000. Iron Horse Wealth Management LLC increased its stake 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 worth $40,000 after purchasing an additional 26 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Casey’s General Stores in the 2nd quarter worth about $42,000. WPG Advisers LLC purchased a new position in Casey’s General Stores in the 1st quarter worth about $47,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in 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 purchasing an additional 68 shares in the last quarter. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Casey’s General Stores in a research note on Wednesday, October 8th. KeyCorp lifted their target price on Casey’s General Stores from $550.00 to $575.00 and gave the company an “overweight” rating in a research note on Friday, July 25th. Zacks Research raised Casey’s General Stores from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. Stephens reaffirmed an “overweight” rating and set a $570.00 target price on shares of Casey’s General Stores in a research note on Wednesday, October 8th. Finally, Evercore ISI lifted their target price on Casey’s General Stores from $580.00 to $585.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $536.60.

Casey’s General Stores Stock Up 0.9%

Shares of Casey’s General Stores stock opened at $535.95 on Tuesday. The firm has a market cap of $19.93 billion, a price-to-earnings ratio of 34.40 and a beta of 0.68. 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 52-week low of $372.08 and a 52-week high of $572.18. The stock has a 50-day simple moving average of $537.78 and a 200-day simple moving average of $503.46.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Monday, September 8th. The company reported $5.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.02 by $0.75. The firm had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.47 billion. Casey’s General Stores had a return on equity of 16.73% and a net margin of 3.54%.The company’s revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.83 earnings per share. On average, equities research analysts expect that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey’s General Stores Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Saturday, November 1st will be given a dividend of $0.57 per share. 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 presently 14.63%.

Insider Transactions at Casey’s General Stores

In other Casey’s General Stores news, insider Chad Michael Frazell sold 3,487 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $555.40, for a total transaction of $1,936,679.80. Following the completion of the sale, the insider owned 7,993 shares of the company’s stock, valued at $4,439,312.20. This represents a 30.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.54% of the stock is owned by insiders.

Casey’s General Stores 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.