Focus Partners Advisor Solutions LLC Invests $4.38 Million in Casey’s General Stores, Inc. $CASY

Focus Partners Advisor Solutions LLC acquired a new stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 5,511 shares of the company’s stock, valued at approximately $4,380,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Kathmere Capital Management LLC increased its stake in Casey’s General Stores by 3.5% during the 1st quarter. Kathmere Capital Management LLC now owns 387 shares of the company’s stock worth $282,000 after purchasing an additional 13 shares in the last quarter. Pinnacle Bancorp Inc. raised its holdings in Casey’s General Stores by 4.8% during the 1st quarter. Pinnacle Bancorp Inc. now owns 303 shares of the company’s stock worth $221,000 after buying an additional 14 shares during the period. Lincoln Capital LLC lifted its stake in Casey’s General Stores by 4.0% in the second quarter. Lincoln Capital LLC now owns 366 shares of the company’s stock valued at $291,000 after buying an additional 14 shares in the last quarter. Menard Financial Group LLC boosted its holdings in shares of Casey’s General Stores by 1.2% in the fourth quarter. Menard Financial Group LLC now owns 1,267 shares of the company’s stock valued at $700,000 after buying an additional 15 shares during the period. Finally, Cibc World Market Inc. boosted its holdings in shares of Casey’s General Stores by 0.3% in the fourth quarter. Cibc World Market Inc. now owns 5,136 shares of the company’s stock valued at $2,839,000 after buying an additional 16 shares during the period. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Casey’s General Stores Price Performance

NASDAQ CASY opened at $846.45 on Friday. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. 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 market capitalization of $31.33 billion, a PE ratio of 44.18, a price-to-earnings-growth ratio of 2.54 and a beta of 0.61. The firm’s 50 day moving average is $837.57 and its 200-day moving average is $767.79.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.33 billion. During the same quarter in the previous year, the firm posted $2.63 earnings per share. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. Equities research analysts anticipate that Casey’s General Stores, Inc. will post 21.14 earnings per share for the current fiscal year.

Casey’s General Stores Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. William Blair initiated coverage on shares of Casey’s General Stores in a report on Wednesday, May 20th. They set an “outperform” rating on the stock. Northcoast Research raised shares of Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $950.00 target price for the company in a research note on Monday, July 13th. Wall Street Zen upgraded Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Morgan Stanley raised Casey’s General Stores to a “buy” rating in a research note on Wednesday, June 10th. Finally, Zacks Research lowered Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Fourteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Casey’s General Stores has a consensus rating of “Moderate Buy” and a consensus target price of $944.20.

Insider Activity

In other news, CEO Darren M. Rebelez sold 19,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer directly owned 89,174 shares in the company, valued at $71,469,394.04. This represents a 17.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Allison M. Wing sold 530 shares of the stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $837.58, for a total transaction of $443,917.40. Following the transaction, the director owned 3,042 shares of the company’s stock, valued at approximately $2,547,918.36. This represents a 14.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 30,243 shares of company stock worth $24,421,877. 0.67% of the stock is currently owned by company insiders.

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.