Proficio Capital Partners LLC Takes $843,000 Position in Casey’s General Stores, Inc. $CASY

Proficio Capital Partners LLC acquired a new stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) during the second quarter, HoldingsChannel reports. The firm acquired 1,060 shares of the company’s stock, valued at approximately $843,000.

Several other institutional investors have also bought and sold shares of the stock. Renasant Bank raised its position in shares of Casey’s General Stores by 5.7% during the 2nd quarter. Renasant Bank now owns 369 shares of the company’s stock worth $293,000 after buying an additional 20 shares in the last quarter. Sigma Planning Corp lifted its stake in shares of Casey’s General Stores by 48.1% in the 2nd quarter. Sigma Planning Corp now owns 557 shares of the company’s stock worth $442,000 after acquiring an additional 181 shares during the period. Cookson Peirce & Co. Inc. boosted its holdings in shares of Casey’s General Stores by 1.9% in the second quarter. Cookson Peirce & Co. Inc. now owns 19,508 shares of the company’s stock valued at $15,505,000 after acquiring an additional 364 shares in the last quarter. Meiji Yasuda Life Insurance Co bought a new position in shares of Casey’s General Stores in the second quarter valued at approximately $540,000. Finally, Greenwood Capital Associates LLC acquired a new position in shares of Casey’s General Stores during the second quarter valued at approximately $3,303,000. Institutional investors and hedge funds own 85.63% of the company’s stock.

Casey’s General Stores Stock Up 2.0%

Casey’s General Stores stock opened at $766.91 on Wednesday. The company has a market capitalization of $28.38 billion, a P/E ratio of 40.03, a P/E/G ratio of 2.57 and a beta of 0.59. The firm’s fifty day simple moving average is $829.03 and its 200-day simple moving average is $783.70. The company has a current ratio of 1.01, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59. Casey’s General Stores, Inc. has a 1-year low of $490.50 and a 1-year high of $927.85.

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, topping analysts’ consensus estimates of $3.31 by $1.06. The firm had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.33 billion. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. Casey’s General Stores’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.63 earnings per share. Sell-side analysts forecast that Casey’s General Stores, Inc. will post 21.11 earnings per share for the current fiscal year.

Casey’s General Stores Increases Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on CASY. Evercore reiterated an “outperform” rating and issued a $990.00 price target on shares of Casey’s General Stores in a research report on Friday, June 12th. Morgan Stanley raised shares of Casey’s General Stores to a “buy” rating in a research note on Wednesday, June 10th. KeyCorp lifted their price objective on shares of Casey’s General Stores from $950.00 to $970.00 and gave the stock an “overweight” rating in a research report on Thursday, June 11th. Zacks Research cut Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 5th. Finally, William Blair initiated coverage on Casey’s General Stores in a research note on Wednesday, May 20th. They set an “outperform” rating on the stock. Fourteen investment 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 an average price target of $942.87.

Insider Activity

In related news, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the company’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $838.16, for a total transaction of $4,777,512.00. Following the completion of the transaction, the chief financial officer directly owned 29,677 shares in the company, valued at $24,874,074.32. This represents a 16.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Allison M. Wing sold 530 shares of the company’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $837.58, for a total transaction of $443,917.40. Following the transaction, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 30,243 shares of company stock worth $24,421,877. Insiders own 0.67% of the company’s stock.

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.