Redhawk Wealth Advisors Inc. Invests $1.78 Million in Casey’s General Stores, Inc. $CASY

Redhawk Wealth Advisors Inc. acquired a new position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 2,239 shares of the company’s stock, valued at approximately $1,780,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Whipplewood Advisors LLC acquired a new position in Casey’s General Stores during the first quarter worth about $33,000. Larson Financial Group LLC grew its holdings 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 during the period. RMG Wealth Management LLC raised its holdings in Casey’s General Stores by 250.0% during the first quarter. RMG Wealth Management LLC now owns 56 shares of the company’s stock worth $41,000 after purchasing an additional 40 shares during the last quarter. Elyxium Wealth LLC purchased a new stake in Casey’s General Stores during the fourth quarter worth $43,000. Finally, Osterweis Capital Management Inc. acquired a new stake in Casey’s General Stores in the second quarter valued at $45,000. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Casey’s General Stores Stock Performance

Shares of CASY opened at $854.46 on Tuesday. Casey’s General Stores, Inc. has a 1 year low of $490.00 and a 1 year high of $927.85. The company’s 50 day simple moving average is $831.22 and its 200 day simple moving average is $762.62. The company has a market capitalization of $31.62 billion, a price-to-earnings ratio of 44.60, a PEG ratio of 2.50 and a beta of 0.61. 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 released its earnings results 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 firm had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.33 billion. During the same period in the previous year, the company earned $2.63 EPS. Casey’s General Stores’s revenue for the quarter was up 14.5% on a year-over-year basis. On average, sell-side analysts predict that Casey’s General Stores, Inc. will post 21.14 EPS for the current year.

Casey’s General Stores Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Saturday, August 1st will be paid a $0.65 dividend. The ex-dividend date is Friday, July 31st. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.57. This represents a $2.60 annualized dividend and a yield of 0.3%. Casey’s General Stores’s payout ratio is currently 13.57%.

Analysts Set New Price Targets

Several research firms have recently issued reports on CASY. KeyCorp lifted their price target on Casey’s General Stores from $950.00 to $970.00 and gave the stock an “overweight” rating in a research note on Thursday, June 11th. Northcoast Research upgraded shares of Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $950.00 target price for the company in a report on Monday, July 13th. Zacks Research downgraded shares of Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. BNP Paribas Exane lowered their price target on shares of Casey’s General Stores from $1,032.00 to $995.00 and set an “outperform” rating on the stock in a research report on Thursday, June 25th. Finally, Wells Fargo & Company raised their price objective on shares of Casey’s General Stores from $910.00 to $960.00 and gave the stock an “overweight” rating in a research note on Thursday, June 11th. Fourteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $944.20.

Insider Activity

In other news, CEO Darren M. Rebelez sold 19,000 shares of the company’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $801.46, for a total transaction of $15,227,740.00. Following the completion of the transaction, the chief executive officer owned 89,174 shares of the company’s stock, valued at $71,469,394.04. This represents a 17.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Chad Michael Frazell sold 3,013 shares of the 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 transaction, the insider owned 9,823 shares in the company, valued at approximately $7,735,514.27. The trade was a 23.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 30,243 shares of company stock valued at $24,421,877 in the last three months. Company insiders own 0.67% of the company’s stock.

Casey’s General Stores 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.