Compass Financial Management LLC Takes Position in Casey’s General Stores, Inc. $CASY

Compass Financial Management LLC acquired a new position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 675 shares of the company’s stock, valued at approximately $557,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in Casey’s General Stores during the 2nd quarter valued at $2,759,895,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Casey’s General Stores by 179,938.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,659,164 shares of the company’s stock worth $1,469,747,000 after purchasing an additional 2,657,687 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Casey’s General Stores by 40.9% in the fourth quarter. Franklin Resources Inc. now owns 1,068,682 shares of the company’s stock worth $590,671,000 after purchasing an additional 310,470 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Casey’s General Stores by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 760,438 shares of the company’s stock valued at $420,416,000 after purchasing an additional 52,250 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Casey’s General Stores by 12.6% during the fourth quarter. Invesco Ltd. now owns 572,152 shares of the company’s stock valued at $316,234,000 after purchasing an additional 64,154 shares during the period. 85.63% of the stock is owned by institutional investors.

Casey’s General Stores Price Performance

Shares of NASDAQ:CASY opened at $835.74 on Monday. The stock has a market capitalization of $30.93 billion, a P/E ratio of 43.62, a P/E/G ratio of 2.86 and a beta of 0.61. The business has a 50-day moving average of $837.28 and a two-hundred day moving average of $776.94. 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 current ratio of 1.01 and a quick ratio of 0.60.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, beating analysts’ consensus estimates 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 firm posted $2.63 EPS. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. On average, equities research analysts predict that Casey’s General Stores, Inc. will post 21.11 EPS for the current fiscal year.

Casey’s General Stores Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Saturday, August 1st were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.3%. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.57. The ex-dividend date was Friday, July 31st. Casey’s General Stores’s dividend payout ratio is 13.57%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $913.00 price objective on shares of Casey’s General Stores in a report on Wednesday, July 29th. Wells Fargo & Company boosted their price target on shares of 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. Wolfe Research reaffirmed an “outperform” rating and issued a $1,069.00 price target on shares of Casey’s General Stores 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 price objective on the stock in a research note on Monday, July 13th. Finally, JPMorgan Chase & Co. lifted their price target on Casey’s General Stores from $719.00 to $975.00 and gave the company a “neutral” rating in a research report on Friday, June 12th. Fourteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $944.20.

Insider Buying and Selling

In related news, CEO Darren M. Rebelez sold 19,000 shares of the company’s stock in a transaction on 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 sale, the chief executive officer directly owned 89,174 shares of the company’s stock, valued at approximately $71,469,394.04. This represents a 17.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Katrina S. Lindsey sold 2,000 shares of Casey’s General Stores stock in a transaction on Monday, June 29th. The stock was sold at an average price of $800.00, for a total transaction of $1,600,000.00. Following the completion of the transaction, the insider owned 6,668 shares in the company, valued at $5,334,400. This trade represents a 23.07% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 30,243 shares of company stock valued at $24,421,877. 0.67% of the stock is owned by corporate insiders.

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.