Elevation Point Wealth Partners LLC Takes Position in Casey’s General Stores, Inc. $CASY

Elevation Point Wealth Partners LLC bought a new stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) during the second quarter, Holdings Channel reports. The institutional investor bought 849 shares of the company’s stock, valued at approximately $674,000.

Several other institutional investors and hedge funds have also bought and sold shares of CASY. Whipplewood Advisors LLC acquired a new position in Casey’s General Stores during the 1st quarter worth approximately $33,000. Bell Investment Advisors Inc acquired a new stake in Casey’s General Stores in the second quarter valued at approximately $33,000. Larson Financial Group LLC increased its holdings in shares of Casey’s General Stores by 252.4% during the fourth quarter. Larson Financial Group LLC now owns 74 shares of the company’s stock valued at $41,000 after acquiring an additional 53 shares in the last quarter. RMG Wealth Management LLC increased its holdings in shares of Casey’s General Stores by 250.0% during the first quarter. RMG Wealth Management LLC now owns 56 shares of the company’s stock valued at $41,000 after acquiring an additional 40 shares in the last quarter. Finally, Elyxium Wealth LLC acquired a new position in shares of Casey’s General Stores during the fourth quarter worth approximately $43,000. 85.63% of the stock is owned by institutional investors.

Casey’s General Stores Trading Up 2.2%

Shares of Casey’s General Stores stock opened at $854.21 on Tuesday. The company has a market capitalization of $31.61 billion, a P/E ratio of 44.58, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61. The stock has a fifty day simple moving average of $836.91 and a 200 day simple moving average of $778.44. Casey’s General Stores, Inc. has a 12-month low of $490.00 and a 12-month high of $927.85. The company has a current ratio of 1.01, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, beating 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 analysts’ expectations of $4.33 billion. During the same period last year, the business earned $2.63 EPS. The business’s revenue was up 14.5% on a year-over-year basis. On average, sell-side analysts anticipate that Casey’s General Stores, Inc. will post 21.11 earnings per share for the current fiscal year.

Casey’s General Stores Increases Dividend

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

Insider Transactions at Casey’s General Stores

In other Casey’s General Stores news, Director Allison M. Wing sold 530 shares of the company’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $837.58, for a total value of $443,917.40. Following the completion of the transaction, the director owned 3,042 shares in the company, valued at $2,547,918.36. This represents a 14.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Katrina S. Lindsey sold 2,000 shares of the firm’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $800.00, for a total value of $1,600,000.00. Following the sale, the insider directly owned 6,668 shares of the company’s stock, valued at approximately $5,334,400. This represents a 23.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 30,243 shares of company stock worth $24,421,877. Company insiders own 0.67% of the company’s stock.

Analyst Upgrades and Downgrades

CASY has been the topic of a number of recent research reports. Stephens set a $975.00 price target on shares of Casey’s General Stores and gave the company an “overweight” rating in a research report on Friday, June 12th. BMO Capital Markets upgraded shares of Casey’s General Stores from a “market perform” rating to an “outperform” rating and set a $950.00 price objective on the stock in a report on Monday, June 29th. Evercore reaffirmed an “outperform” rating and issued a $990.00 price objective on shares of Casey’s General Stores in a research note on Friday, June 12th. William Blair started coverage on shares of Casey’s General Stores in a report on Wednesday, May 20th. They set an “outperform” rating for the company. Finally, JPMorgan Chase & Co. boosted their target price on shares of Casey’s General Stores from $719.00 to $975.00 and gave the stock a “neutral” rating in a research report on Friday, June 12th. Fourteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Casey’s General Stores presently 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.