Commonwealth Financial Services LLC Buys Shares of 431 Casey’s General Stores, Inc. $CASY

Commonwealth Financial Services LLC bought a new stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 431 shares of the company’s stock, valued at approximately $220,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CASY. Summit Securities Group LLC bought a new position in shares of Casey’s General Stores in the first quarter worth $32,000. Iron Horse Wealth Management LLC increased its holdings in shares of Casey’s General Stores by 40.0% in the first quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company’s stock worth $40,000 after purchasing an additional 26 shares during the period. WPG Advisers LLC bought a new position in shares of Casey’s General Stores in the first quarter worth $47,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Casey’s General Stores by 242.9% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 96 shares of the company’s stock worth $49,000 after purchasing an additional 68 shares during the period. Finally, Wayfinding Financial LLC bought a new position in shares of Casey’s General Stores in the first quarter worth $59,000. Institutional investors own 85.63% of the company’s stock.

Insider Activity at Casey’s General Stores

In other news, insider Chad Michael Frazell sold 3,487 shares of the company’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $555.40, for a total transaction of $1,936,679.80. Following the completion of the transaction, the insider directly owned 7,993 shares of the company’s stock, valued at approximately $4,439,312.20. This represents a 30.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CASY shares. Wall Street Zen raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Saturday, June 14th. Royal Bank Of Canada upped their price target on shares of Casey’s General Stores from $468.00 to $542.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 9th. Jefferies Financial Group upped their price target on shares of Casey’s General Stores from $575.00 to $600.00 and gave the stock a “buy” rating in a report on Tuesday, September 9th. Evercore ISI upped their target price on shares of Casey’s General Stores from $560.00 to $580.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 10th. Finally, Stephens reiterated an “overweight” rating and issued a $570.00 target price on shares of Casey’s General Stores in a research report on Wednesday. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $533.10.

Casey’s General Stores Stock Performance

NASDAQ CASY opened at $556.67 on Friday. The company has a 50-day simple moving average of $529.63 and a two-hundred day simple moving average of $493.71. The company has a quick ratio of 0.61, a current ratio of 1.03 and a debt-to-equity ratio of 0.65. Casey’s General Stores, Inc. has a 12-month low of $372.08 and a 12-month high of $571.57. The firm has a market cap of $20.70 billion, a price-to-earnings ratio of 35.73 and a beta of 0.68.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results on Monday, September 8th. The company reported $5.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.02 by $0.75. The business had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.47 billion. Casey’s General Stores had a net margin of 3.54% and a return on equity of 16.73%. The company’s revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the business posted $4.83 earnings per share. On average, equities analysts forecast that Casey’s General Stores, Inc. will post 13.94 EPS for the current year.

Casey’s General Stores Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Saturday, November 1st will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, October 31st. Casey’s General Stores’s dividend payout ratio is 14.63%.

About Casey’s General Stores

Casey’s General Stores, Inc engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.