Proficio Capital Partners LLC Purchases New Shares in Casey’s General Stores, Inc. $CASY

Proficio Capital Partners LLC purchased a new position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 1,060 shares of the company’s stock, valued at approximately $843,000.

A number of other institutional investors have also modified their holdings of CASY. BlackRock Inc. bought a new position in Casey’s General Stores in the 2nd quarter worth approximately $2,759,895,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Casey’s General Stores by 179,938.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,659,164 shares of the company’s stock worth $1,469,747,000 after purchasing an additional 2,657,687 shares in the last quarter. Norges Bank bought a new stake in shares of Casey’s General Stores during the 4th quarter worth $265,163,000. Bank of America Corp DE purchased a new position in Casey’s General Stores in the 2nd quarter worth about $281,872,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Casey’s General Stores during the second quarter valued at approximately $281,011,000. Institutional investors own 85.63% of the company’s stock.

Insider Activity at Casey’s General Stores

In related news, CEO Darren M. Rebelez sold 19,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $801.46, for a total value of $15,227,740.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of Casey’s General Stores stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $838.16, for a total value of $4,777,512.00. Following the completion of the transaction, the chief financial officer directly owned 29,677 shares of the company’s stock, valued at approximately $24,874,074.32. This trade represents a 16.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 30,243 shares of company stock worth $24,421,877 in the last three months. Insiders own 0.67% of the company’s stock.

Wall Street Analyst Weigh In

CASY has been the subject of a number of research reports. 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. UBS Group lifted their target price on shares of Casey’s General Stores from $805.00 to $945.00 and gave the stock a “neutral” rating in a report on Thursday, June 11th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $913.00 price target on shares of Casey’s General Stores in a report on Wednesday, July 29th. 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, Capital One Financial initiated coverage on shares of Casey’s General Stores in a research note on Monday, June 22nd. They issued an “equal weight” rating and a $896.00 target price on the stock. Fourteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $944.20.

Casey’s General Stores Stock Performance

CASY stock opened at $807.12 on Thursday. Casey’s General Stores, Inc. has a 1-year low of $490.00 and a 1-year high of $927.85. 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 business’s 50-day moving average price is $835.23 and its two-hundred day moving average price is $780.78. The firm has a market cap of $29.87 billion, a PE ratio of 42.13, a P/E/G ratio of 2.82 and a beta of 0.61.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.33 billion. During the same period last year, the company earned $2.63 earnings per share. The firm’s revenue was up 14.5% compared to the same quarter last year. As a group, research analysts forecast that Casey’s General Stores, Inc. will post 21.11 earnings per share for the current year.

Casey’s General Stores Increases Dividend

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

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.