Coastal Bridge Advisors LLC Purchases New Shares in Casey’s General Stores, Inc. $CASY

Coastal Bridge Advisors LLC purchased a new position 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 Securities and Exchange Commission. The fund purchased 1,112 shares of the company’s stock, valued at approximately $884,000.

A number of other large investors also recently added to or reduced their stakes in CASY. Fiduciary Financial Advisors acquired a new stake in shares of Casey’s General Stores in the second quarter valued at about $26,000. Whipplewood Advisors LLC acquired a new position in shares of Casey’s General Stores during the 1st quarter worth about $33,000. Bell Investment Advisors Inc acquired a new position in shares of Casey’s General Stores during the 2nd quarter worth about $33,000. Larson Financial Group LLC lifted its stake in Casey’s General Stores by 252.4% in the 4th quarter. Larson Financial Group LLC now owns 74 shares of the company’s stock valued at $41,000 after buying an additional 53 shares in the last quarter. Finally, RMG Wealth Management LLC lifted its stake in Casey’s General Stores by 250.0% in the 1st quarter. RMG Wealth Management LLC now owns 56 shares of the company’s stock valued at $41,000 after buying an additional 40 shares in the last quarter. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Casey’s General Stores news, CEO Darren M. Rebelez sold 19,000 shares of the business’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $801.46, for a total transaction of $15,227,740.00. Following the transaction, the chief executive officer owned 89,174 shares of the company’s stock, valued at approximately $71,469,394.04. The trade was a 17.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Allison M. Wing sold 530 shares of the company’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $837.58, for a total value of $443,917.40. Following the completion of the sale, the director owned 3,042 shares of the company’s stock, valued at approximately $2,547,918.36. The trade was a 14.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 30,243 shares of company stock valued at $24,421,877. Insiders own 0.67% of the company’s stock.

Casey’s General Stores Stock Performance

CASY opened at $763.38 on Friday. The firm has a market capitalization of $28.25 billion, a PE ratio of 39.84, a PEG ratio of 2.76 and a beta of 0.61. Casey’s General Stores, Inc. has a twelve month low of $490.00 and a twelve month high of $927.85. The firm’s 50-day moving average price is $833.65 and its 200 day moving average price is $781.50. 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 released its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $3.31 by $1.06. The company had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.33 billion. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. Casey’s General Stores’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.63 EPS. As a group, sell-side 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 declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Saturday, August 1st were given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.3%. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.57. The ex-dividend date was Friday, July 31st. Casey’s General Stores’s dividend payout ratio (DPR) is currently 13.57%.

Analysts Set New Price Targets

CASY has been the subject of several research reports. Morgan Stanley upgraded Casey’s General Stores to a “buy” rating in a research note on Wednesday, June 10th. Wall Street Zen upgraded Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Capital One Financial began coverage on Casey’s General Stores in a research note on Monday, June 22nd. They issued an “equal weight” rating and a $896.00 price target on the stock. Weiss Ratings lowered Casey’s General Stores from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, July 21st. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $1,000.00 price target on shares of Casey’s General Stores in a research report on Monday, June 15th. Fourteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $942.87.

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.