Sagespring Wealth Partners LLC raised its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY – Free Report) by 11.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 519 shares of the company’s stock after buying an additional 53 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in Casey’s General Stores were worth $265,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the stock. Valmark Advisers Inc. raised its stake in Casey’s General Stores by 0.5% during the second quarter. Valmark Advisers Inc. now owns 4,404 shares of the company’s stock valued at $2,247,000 after buying an additional 21 shares during the last quarter. Flagship Harbor Advisors LLC raised its stake in Casey’s General Stores by 4.1% during the first quarter. Flagship Harbor Advisors LLC now owns 590 shares of the company’s stock valued at $256,000 after buying an additional 23 shares during the last quarter. Sunbelt Securities Inc. raised its stake in Casey’s General Stores by 1.4% during the first quarter. Sunbelt Securities Inc. now owns 1,870 shares of the company’s stock valued at $812,000 after buying an additional 26 shares during the last quarter. Iron Horse Wealth Management LLC raised its stake in Casey’s General Stores by 40.0% during the first quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company’s stock valued at $40,000 after buying an additional 26 shares during the last quarter. Finally, Menard Financial Group LLC raised its stake in Casey’s General Stores by 2.1% during the first quarter. Menard Financial Group LLC now owns 1,290 shares of the company’s stock valued at $603,000 after buying an additional 27 shares during the last quarter. Hedge funds and other institutional investors own 85.63% of the company’s stock.
Casey’s General Stores Stock Performance
Shares of CASY opened at $567.05 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.03 and a quick ratio of 0.61. Casey’s General Stores, Inc. has a one year low of $372.08 and a one year high of $572.18. The firm has a market capitalization of $21.08 billion, a P/E ratio of 36.40 and a beta of 0.68. The business has a fifty day moving average of $534.08 and a 200 day moving average of $498.14.
Casey’s General Stores Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Saturday, November 1st will be issued a $0.57 dividend. The ex-dividend date of this dividend 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 related news, insider Chad Michael Frazell sold 3,487 shares of Casey’s General Stores stock in a transaction on Monday, September 29th. The stock was sold at an average price of $555.40, for a total value of $1,936,679.80. Following the completion of the sale, the insider owned 7,993 shares of the company’s stock, valued at $4,439,312.20. The trade was a 30.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.54% of the stock is owned by insiders.
Analysts Set New Price Targets
CASY has been the subject of a number of recent research reports. Jefferies Financial Group lifted their price objective on Casey’s General Stores from $575.00 to $600.00 and gave the company a “buy” rating in a research note on Tuesday, September 9th. Wells Fargo & Company initiated coverage on Casey’s General Stores in a research note on Wednesday. They issued an “overweight” rating and a $610.00 price target for the company. BMO Capital Markets boosted their price target on Casey’s General Stores from $515.00 to $540.00 and gave the stock a “market perform” rating in a research note on Wednesday, September 10th. Weiss Ratings restated a “buy (b)” rating on shares of Casey’s General Stores in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded Casey’s General Stores from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $536.10.
Read Our Latest Analysis on CASY
Casey’s General Stores Company 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.
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