Capital Square LLC Makes New Investment in Casey’s General Stores, Inc. $CASY

Capital Square LLC purchased a new stake in Casey’s General Stores, Inc. (NASDAQ:CASY) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 1,092 shares of the company’s stock, valued at approximately $895,000.

Several other institutional investors have also modified their holdings of the business. Meiji Yasuda Asset Management Co Ltd. purchased a new stake in shares of Casey’s General Stores during the second quarter worth $290,000. First Nebraska Trust Co purchased a new position in Casey’s General Stores in the second quarter valued at $931,000. Bank of Nova Scotia acquired a new position in Casey’s General Stores during the 2nd quarter worth $3,084,000. Compass Financial Management LLC acquired a new position in Casey’s General Stores during the 2nd quarter worth $557,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in Casey’s General Stores during the 2nd quarter worth $674,000. Institutional investors and hedge funds own 85.63% of the company’s stock.

Casey’s General Stores Stock Performance

CASY opened at $835.74 on Monday. 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, Inc. has a one year low of $490.00 and a one year high of $927.85. The company has a market cap of $30.93 billion, a P/E ratio of 43.62, a PEG ratio of 2.86 and a beta of 0.61. The business’s 50-day simple moving average is $837.28 and its 200-day simple moving average is $776.94.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, topping the consensus estimate of $3.31 by $1.06. The firm had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.33 billion. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.The firm’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.63 earnings per share. As a group, equities research analysts expect 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 disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Saturday, August 1st were given a dividend of $0.65 per share. The ex-dividend date was Friday, July 31st. This represents a $2.60 annualized dividend and a dividend yield of 0.3%. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.57. Casey’s General Stores’s payout ratio is presently 13.57%.

Insider Buying and Selling at Casey’s General Stores

In other news, insider Chad Michael Frazell sold 3,013 shares of the company’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $787.49, for a total value of $2,372,707.37. Following the completion of the transaction, the insider owned 9,823 shares in the company, valued at approximately $7,735,514.27. This represents a 23.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Katrina S. Lindsey sold 2,000 shares of the stock in a transaction on Monday, June 29th. The shares were 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 directly owned 6,668 shares in the company, valued at $5,334,400. This trade represents a 23.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 30,243 shares of company stock worth $24,421,877. 0.67% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CASY shares. KeyCorp increased their price target on Casey’s General Stores from $950.00 to $970.00 and gave the company an “overweight” rating in a research report on Thursday, June 11th. Evercore reissued an “outperform” rating and set a $990.00 price objective on shares of Casey’s General Stores in a research report on Friday, June 12th. Capital One Financial began coverage on shares of Casey’s General Stores in a research note on Monday, June 22nd. They set an “equal weight” rating and a $896.00 target price on the stock. 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 report on Monday, June 29th. Finally, Stephens set a $975.00 price target on shares of Casey’s General Stores and gave the stock an “overweight” rating in a research note on Friday, June 12th. Fourteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Casey’s General Stores currently has a consensus rating of “Moderate Buy” and a consensus price target of $944.20.

About Casey’s General Stores

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.