Moran Wealth Management LLC Increases Stake in Casey’s General Stores, Inc. $CASY

Moran Wealth Management LLC boosted its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 183.2% during the first quarter, HoldingsChannel.com reports. The firm owned 28,627 shares of the company’s stock after acquiring an additional 18,517 shares during the period. Moran Wealth Management LLC’s holdings in Casey’s General Stores were worth $20,836,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. BIP Wealth LLC purchased a new stake in Casey’s General Stores during the first quarter valued at about $272,000. World Investment Advisors increased its stake in Casey’s General Stores by 164.6% during the first quarter. World Investment Advisors now owns 1,045 shares of the company’s stock worth $761,000 after acquiring an additional 650 shares during the last quarter. Argos Wealth Advisors LLC purchased a new position in shares of Casey’s General Stores in the 1st quarter worth about $226,000. New York State Teachers Retirement System raised its holdings in shares of Casey’s General Stores by 2.6% in the 1st quarter. New York State Teachers Retirement System now owns 39,613 shares of the company’s stock worth $28,833,000 after purchasing an additional 989 shares during the period. Finally, Private Advisor Group LLC lifted its stake in shares of Casey’s General Stores by 3.9% in the 1st quarter. Private Advisor Group LLC now owns 4,840 shares of the company’s stock valued at $3,523,000 after purchasing an additional 180 shares in the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

Analyst Upgrades and Downgrades

CASY has been the subject of a number of research reports. BNP Paribas Exane decreased their target price on Casey’s General Stores from $1,032.00 to $995.00 and set an “outperform” rating for the company in a report on Thursday, June 25th. Weiss Ratings restated a “buy (b)” rating on shares of Casey’s General Stores in a report on Wednesday, June 24th. William Blair started coverage on shares of Casey’s General Stores in a research report on Wednesday, May 20th. They set an “outperform” rating on the stock. Wells Fargo & Company boosted their price objective on shares of Casey’s General Stores from $910.00 to $960.00 and gave the stock an “overweight” rating in a research note on Thursday, June 11th. Finally, KeyCorp increased 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. Thirteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, Casey’s General Stores has an average rating of “Moderate Buy” and a consensus price target of $939.29.

Casey’s General Stores Stock Performance

NASDAQ CASY opened at $797.42 on Friday. The stock has a market cap of $29.51 billion, a P/E ratio of 41.62, a PEG ratio of 2.40 and a beta of 0.62. The company’s fifty day simple moving average is $820.92 and its 200-day simple moving average is $712.84. 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 52 week low of $490.00 and a 52 week 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 EPS for the quarter, topping analysts’ consensus estimates of $3.31 by $1.06. The firm had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.33 billion. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. The firm’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.63 EPS. Equities research analysts predict that Casey’s General Stores, Inc. will post 21.05 EPS for the current fiscal year.

Casey’s General Stores Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Saturday, August 1st will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is 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 dividend payout ratio is currently 11.90%.

Insider Activity

In related news, insider Katrina S. Lindsey sold 2,000 shares of Casey’s General Stores stock in a transaction on Monday, June 29th. The shares were sold at an average price of $800.00, for a total value of $1,600,000.00. Following the completion of the sale, the insider owned 6,668 shares in the company, valued at approximately $5,334,400. The trade was a 23.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mike Spanos acquired 256 shares of the firm’s stock in a transaction on Friday, June 26th. The shares were bought at an average cost of $778.81 per share, with a total value of $199,375.36. Following the completion of the acquisition, the director owned 4,758 shares in the company, valued at $3,705,577.98. This represents a 5.69% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.54% of the company’s stock.

Casey’s General Stores 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.