Accel Wealth Management Buys 69 Shares of Casey’s General Stores, Inc. $CASY

Accel Wealth Management lifted its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 8.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 840 shares of the company’s stock after acquiring an additional 69 shares during the period. Accel Wealth Management’s holdings in Casey’s General Stores were worth $429,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CASY. Versant Capital Management Inc bought a new position in Casey’s General Stores in the first quarter valued at $25,000. Summit Securities Group LLC bought a new position in Casey’s General Stores in the first quarter valued at $32,000. Iron Horse Wealth Management LLC grew its position in Casey’s General Stores by 40.0% in the first quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company’s stock valued at $40,000 after purchasing an additional 26 shares in the last quarter. WPG Advisers LLC bought a new position in Casey’s General Stores in the first quarter valued at $47,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in Casey’s General Stores by 242.9% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 96 shares of the company’s stock valued at $49,000 after purchasing an additional 68 shares in the last quarter. Institutional investors own 85.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Wells Fargo & Company raised their target price on shares of Casey’s General Stores from $540.00 to $580.00 and gave the company an “overweight” rating in a research report on Monday, September 8th. BMO Capital Markets increased their price target on shares of Casey’s General Stores from $515.00 to $540.00 and gave the company a “market perform” rating in a research note on Wednesday, September 10th. Evercore ISI increased their price target on shares of Casey’s General Stores from $560.00 to $580.00 and gave the company an “outperform” rating in a research note on Wednesday, September 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of Casey’s General Stores in a research note on Saturday, September 27th. Finally, The Goldman Sachs Group increased their price target on shares of Casey’s General Stores from $450.00 to $490.00 and gave the company a “neutral” rating in a research note on Wednesday, September 10th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Casey’s General Stores currently has an average rating of “Moderate Buy” and a consensus price target of $529.10.

Casey’s General Stores Price Performance

Shares of Casey’s General Stores stock opened at $567.48 on Friday. Casey’s General Stores, Inc. has a twelve month low of $366.00 and a twelve month high of $571.57. The company has a quick ratio of 0.61, a current ratio of 1.03 and a debt-to-equity ratio of 0.65. The company has a 50-day simple moving average of $526.40 and a two-hundred day simple moving average of $488.70. The stock has a market capitalization of $21.10 billion, a price-to-earnings ratio of 36.42 and a beta of 0.68.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Monday, September 8th. The company reported $5.77 earnings per share for the quarter, topping the consensus estimate of $5.02 by $0.75. The business had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.47 billion. Casey’s General Stores had a net margin of 3.54% and a return on equity of 16.73%. The business’s revenue was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.83 EPS. Analysts forecast that Casey’s General Stores, Inc. will post 13.94 EPS for the current year.

Casey’s General Stores Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Saturday, November 1st will be given a $0.57 dividend. The ex-dividend date is Friday, October 31st. This represents a $2.28 annualized dividend and a dividend yield of 0.4%. Casey’s General Stores’s payout ratio is presently 14.63%.

Insider Activity at Casey’s General Stores

In other news, insider Chad Michael Frazell sold 3,487 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $555.40, for a total value of $1,936,679.80. Following the completion of the transaction, the insider directly owned 7,993 shares in the company, valued at approximately $4,439,312.20. The trade was a 30.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.54% of the company’s stock.

Casey’s General Stores Profile

Casey’s General Stores, Inc engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.