GSA Capital Partners LLP Takes Position in Casey’s General Stores, Inc. $CASY

GSA Capital Partners LLP purchased a new position in Casey’s General Stores, Inc. (NASDAQ:CASY) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 4,274 shares of the company’s stock, valued at approximately $3,397,000.

A number of other institutional investors have also made changes to their positions in CASY. Tema ETFs LLC acquired a new position in Casey’s General Stores in the second quarter valued at about $316,000. Redhawk Wealth Advisors Inc. acquired a new position in shares of Casey’s General Stores during the 2nd quarter worth about $1,780,000. First Bank & Trust grew its position in shares of Casey’s General Stores by 6.0% during the 2nd quarter. First Bank & Trust now owns 1,476 shares of the company’s stock worth $1,173,000 after buying an additional 83 shares during the period. Contravisory Investment Management Inc. increased its stake in shares of Casey’s General Stores by 2,431.2% in the 2nd quarter. Contravisory Investment Management Inc. now owns 1,215 shares of the company’s stock valued at $966,000 after acquiring an additional 1,167 shares during the last quarter. Finally, Everhart Financial Group Inc. increased its stake in shares of Casey’s General Stores by 14.0% in the 2nd quarter. Everhart Financial Group Inc. now owns 366 shares of the company’s stock valued at $291,000 after acquiring an additional 45 shares during the last quarter. 85.63% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CASY. Evercore reissued an “outperform” rating and set a $990.00 price objective on shares of Casey’s General Stores in a research note on Friday, June 12th. KeyCorp upped their target price on shares of Casey’s General Stores from $950.00 to $970.00 and gave the company an “overweight” rating in a research note on Thursday, June 11th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $913.00 target price on shares of Casey’s General Stores in a report on Wednesday, July 29th. Wells Fargo & Company lifted their price target on shares of Casey’s General Stores from $910.00 to $960.00 and gave the stock an “overweight” rating in a research report on Thursday, June 11th. Finally, Stephens set a $975.00 price target on shares of Casey’s General Stores and gave the company an “overweight” rating in a report on Friday, June 12th. Fourteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $944.20.

Insider Buying and Selling

In other news, insider Katrina S. Lindsey sold 2,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider owned 6,668 shares in the company, valued at $5,334,400. This represents a 23.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Darren M. Rebelez sold 19,000 shares of the 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 sale, the chief executive officer directly owned 89,174 shares of the company’s stock, valued at $71,469,394.04. This represents a 17.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 30,243 shares of company stock valued at $24,421,877. 0.67% of the stock is owned by corporate insiders.

Casey’s General Stores Trading Down 0.9%

NASDAQ CASY opened at $846.45 on Friday. Casey’s General Stores, Inc. has a one year low of $490.00 and a one year high of $927.85. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.60. The firm has a market cap of $31.33 billion, a P/E ratio of 44.18, a P/E/G ratio of 2.54 and a beta of 0.61. The stock’s 50-day moving average is $837.57 and its 200-day moving average is $767.79.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $4.33 billion. During the same period in the previous year, the firm earned $2.63 EPS. Casey’s General Stores’s quarterly revenue was up 14.5% compared to the same quarter last year. Sell-side 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 business 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. 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 yield of 0.3%. Casey’s General Stores’s payout ratio is presently 13.57%.

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.