Capstone Investment Advisors LLC Buys Shares of 2,624 Casey’s General Stores, Inc. $CASY

Capstone Investment Advisors LLC acquired a new stake in Casey’s General Stores, Inc. (NASDAQ:CASY) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,624 shares of the company’s stock, valued at approximately $2,086,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CASY. NewEdge Advisors LLC lifted its holdings in Casey’s General Stores by 6.4% in the first quarter. NewEdge Advisors LLC now owns 1,871 shares of the company’s stock valued at $812,000 after buying an additional 113 shares during the period. Geneos Wealth Management Inc. grew its stake in Casey’s General Stores by 129.6% in the first quarter. Geneos Wealth Management Inc. now owns 186 shares of the company’s stock valued at $81,000 after acquiring an additional 105 shares during the period. EverSource Wealth Advisors LLC increased its stake in Casey’s General Stores by 431.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company’s stock valued at $111,000 after purchasing an additional 177 shares in the last quarter. Amundi bought a new stake in shares of Casey’s General Stores during the second quarter worth about $338,000. Finally, Jump Financial LLC increased its holdings in Casey’s General Stores by 42.6% during the 2nd quarter. Jump Financial LLC now owns 968 shares of the company’s stock worth $494,000 after purchasing an additional 289 shares in the last quarter. 85.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CASY. William Blair started coverage on shares of Casey’s General Stores in a report on Wednesday, May 20th. They issued an “outperform” rating for the company. KeyCorp boosted their target price on 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. Wolfe Research reissued an “outperform” rating and issued a $1,069.00 price target on shares of Casey’s General Stores in a research report on Thursday, June 11th. Wall Street Zen raised Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Finally, Evercore reiterated an “outperform” rating and issued a $990.00 target price on shares of Casey’s General Stores in a research note on Friday, June 12th. Fourteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Casey’s General Stores currently has an average rating of “Moderate Buy” and a consensus target price of $942.87.

Insider Activity at Casey’s General Stores

In related news, Director Allison M. Wing sold 530 shares of the company’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $837.58, for a total value of $443,917.40. Following the sale, the director directly owned 3,042 shares of the company’s stock, valued at $2,547,918.36. This represents a 14.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the company’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $838.16, for a total transaction of $4,777,512.00. Following the completion of the sale, the chief financial officer owned 29,677 shares in the company, valued at approximately $24,874,074.32. This trade represents a 16.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 30,243 shares of company stock valued at $24,421,877 over the last ninety days. Insiders own 0.67% of the company’s stock.

Casey’s General Stores Stock Performance

Shares of CASY stock opened at $763.38 on Friday. The company has a market capitalization of $28.25 billion, a P/E ratio of 39.84, a PEG ratio of 2.76 and a beta of 0.61. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 1.01. The stock has a 50 day moving average price of $833.65 and a two-hundred day moving average price of $781.50. Casey’s General Stores, Inc. has a fifty-two week low of $490.00 and a fifty-two week high of $927.85.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, topping the consensus estimate of $3.31 by $1.06. The business had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.33 billion. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.The business’s revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the business posted $2.63 EPS. Analysts expect 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 disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Saturday, August 1st were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Friday, July 31st. This is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.57. Casey’s General Stores’s payout ratio is presently 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.