Global Retirement Partners LLC Buys New Shares in Casey’s General Stores, Inc. $CASY

Global Retirement Partners LLC purchased a new stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) during the second quarter, Holdings Channel reports. The fund purchased 1,253 shares of the company’s stock, valued at approximately $996,000.

A number of other large investors have also recently bought and sold shares of CASY. Whipplewood Advisors LLC bought a new position in shares of Casey’s General Stores in the 1st quarter worth about $33,000. Larson Financial Group LLC grew its stake in Casey’s General Stores by 252.4% during the fourth quarter. Larson Financial Group LLC now owns 74 shares of the company’s stock worth $41,000 after purchasing an additional 53 shares during the period. RMG Wealth Management LLC increased its holdings in Casey’s General Stores by 250.0% in 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 in the last quarter. Elyxium Wealth LLC bought a new stake in Casey’s General Stores in the fourth quarter worth approximately $43,000. Finally, Osterweis Capital Management Inc. acquired a new position in Casey’s General Stores in the second quarter valued at approximately $45,000. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Casey’s General Stores Stock Down 1.7%

CASY stock opened at $855.00 on Wednesday. The stock’s 50 day simple moving average is $841.81 and its 200 day simple moving average is $772.32. 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. The company has a market cap of $31.64 billion, a P/E ratio of 44.62, a price-to-earnings-growth ratio of 2.54 and a beta of 0.61.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $4.33 billion. During the same quarter in the prior year, the company earned $2.63 earnings per share. The company’s quarterly revenue was up 14.5% on a year-over-year basis. On average, research analysts expect that Casey’s General Stores, Inc. will post 21.14 earnings per share for the current fiscal year.

Casey’s General Stores Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. UBS Group increased their price target on Casey’s General Stores from $805.00 to $945.00 and gave the stock a “neutral” rating in a report on Thursday, June 11th. Wolfe Research reiterated an “outperform” rating and issued a $1,069.00 price objective on shares of Casey’s General Stores in a research note on Thursday, June 11th. Wall Street Zen upgraded shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. BMO Capital Markets raised shares of Casey’s General Stores from a “market perform” rating to an “outperform” rating and set a $950.00 target price on the stock in a research note on Monday, June 29th. Finally, BNP Paribas Exane reduced their price target on shares of Casey’s General Stores from $1,032.00 to $995.00 and set an “outperform” rating for the company in a report on Thursday, June 25th. Fourteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $944.20.

Insider Buying and Selling

In related news, CEO Darren M. Rebelez sold 19,000 shares of Casey’s General Stores stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $801.46, for a total value of $15,227,740.00. Following the completion of the sale, the chief executive officer owned 89,174 shares of the company’s stock, valued at approximately $71,469,394.04. This trade represents a 17.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 transaction of $2,372,707.37. Following the sale, the insider owned 9,823 shares of the company’s stock, valued at $7,735,514.27. This trade represents a 23.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 30,243 shares of company stock worth $24,421,877 over the last quarter. Corporate insiders own 0.67% 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.