Infrastructure Capital Advisors LLC Has $301,000 Holdings in Casey’s General Stores, Inc. $CASY

Infrastructure Capital Advisors LLC decreased its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 64.5% in the 1st quarter, Holdings Channel reports. The firm owned 413 shares of the company’s stock after selling 751 shares during the quarter. Infrastructure Capital Advisors LLC’s holdings in Casey’s General Stores were worth $301,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CASY. NewEdge Advisors LLC boosted its stake in shares of Casey’s General Stores by 6.4% in the 1st quarter. NewEdge Advisors LLC now owns 1,871 shares of the company’s stock valued at $812,000 after purchasing an additional 113 shares during the last quarter. Geneos Wealth Management Inc. increased its position in shares of Casey’s General Stores by 129.6% during the first quarter. Geneos Wealth Management Inc. now owns 186 shares of the company’s stock worth $81,000 after buying an additional 105 shares during the period. EverSource Wealth Advisors LLC raised its stake in Casey’s General Stores by 431.7% during the second quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company’s stock worth $111,000 after buying an additional 177 shares during the last quarter. Amundi bought a new position in Casey’s General Stores during the second quarter worth $338,000. Finally, Jump Financial LLC lifted its holdings in Casey’s General Stores by 42.6% in the second quarter. Jump Financial LLC now owns 968 shares of the company’s stock valued at $494,000 after buying an additional 289 shares during the period. Institutional investors and hedge funds own 85.63% of the company’s stock.

Casey’s General Stores Trading Down 1.0%

NASDAQ:CASY opened at $853.38 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $31.58 billion, a price-to-earnings ratio of 44.54, a PEG ratio of 2.58 and a beta of 0.62. The firm has a fifty day simple moving average of $821.62 and a two-hundred day simple moving average of $745.63. Casey’s General Stores, Inc. has a 12 month low of $490.00 and a 12 month high of $927.85.

Casey’s General Stores (NASDAQ:CASY) last announced 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 net margin of 4.07% and a return on equity of 18.73%. The firm 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 business earned $2.63 earnings per share. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. Analysts expect that Casey’s General Stores, Inc. will post 21.14 EPS for the current fiscal year.

Casey’s General Stores Increases Dividend

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

Insiders Place Their Bets

In other Casey’s General Stores news, insider Chad Michael Frazell sold 3,013 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $787.49, for a total value of $2,372,707.37. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $838.16, for a total value of $4,777,512.00. Following the completion of the sale, the chief financial officer directly owned 29,677 shares of the company’s stock, valued at $24,874,074.32. This trade represents a 16.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 30,243 shares of company stock worth $24,421,877 over the last three months. Insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on CASY. BNP Paribas Exane cut their price target on shares of Casey’s General Stores from $1,032.00 to $995.00 and set an “outperform” rating on the stock in a research report on Thursday, June 25th. Evercore reissued an “outperform” rating and issued a $990.00 price objective on shares of Casey’s General Stores in a research report on Friday, June 12th. Wells Fargo & Company boosted their price objective on Casey’s General Stores from $910.00 to $960.00 and gave the company an “overweight” rating in a research note on Thursday, June 11th. Weiss Ratings lowered Casey’s General Stores from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, July 21st. Finally, Wolfe Research reaffirmed an “outperform” rating and set a $1,069.00 target price on shares of Casey’s General Stores in a research note on Thursday, June 11th. Fourteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $940.00.

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.