Wealthfront Advisers LLC Invests $486,000 in Casey’s General Stores, Inc. $CASY

Wealthfront Advisers LLC acquired a new stake in Casey’s General Stores, Inc. (NASDAQ:CASY) during the second quarter, HoldingsChannel reports. The firm acquired 611 shares of the company’s stock, valued at approximately $486,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Whipplewood Advisors LLC purchased a new stake in Casey’s General Stores during the first quarter worth approximately $33,000. Bell Investment Advisors Inc purchased a new position in Casey’s General Stores in the second quarter valued at approximately $33,000. Larson Financial Group LLC increased its stake in Casey’s General Stores by 252.4% in the fourth quarter. Larson Financial Group LLC now owns 74 shares of the company’s stock valued at $41,000 after purchasing an additional 53 shares during the last quarter. RMG Wealth Management LLC raised its holdings in Casey’s General Stores by 250.0% during the first quarter. RMG Wealth Management LLC now owns 56 shares of the company’s stock worth $41,000 after purchasing an additional 40 shares in the last quarter. Finally, Elyxium Wealth LLC purchased a new stake in shares of Casey’s General Stores during the 4th quarter worth approximately $43,000. Institutional investors and hedge funds own 85.63% of the company’s stock.

Casey’s General Stores Price Performance

CASY stock opened at $835.74 on Friday. The company has a market capitalization of $30.93 billion, a P/E ratio of 43.62, a PEG ratio of 2.83 and a beta of 0.61. Casey’s General Stores, Inc. has a twelve month low of $490.00 and a twelve month high of $927.85. The business has a 50 day simple moving average of $837.28 and a 200-day simple moving average of $775.89. 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 (NASDAQ:CASY) last announced its earnings results 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 business 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 company’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period last year, the firm posted $2.63 earnings per share. As a group, equities analysts anticipate that Casey’s General Stores, Inc. will post 21.11 EPS for the current year.

Casey’s General Stores Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Saturday, August 1st were paid a dividend of $0.65 per share. The ex-dividend date was Friday, July 31st. This represents a $2.60 dividend on an annualized basis and a yield of 0.3%. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.57. Casey’s General Stores’s dividend payout ratio (DPR) is currently 13.57%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $1,000.00 target price on shares of Casey’s General Stores in a report on Monday, June 15th. Wall Street Zen upgraded shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Weiss Ratings cut shares of Casey’s General Stores from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, July 21st. William Blair assumed coverage on shares of Casey’s General Stores in a research note on Wednesday, May 20th. They issued an “outperform” rating for the company. Finally, Morgan Stanley raised Casey’s General Stores to a “buy” rating in a report on Wednesday, June 10th. Fourteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $944.20.

Insider Activity at Casey’s General Stores

In other news, insider Katrina S. Lindsey sold 2,000 shares of the company’s stock in a transaction dated 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 directly owned 6,668 shares of the company’s stock, valued at approximately $5,334,400. This represents 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 hyperlink. Also, CEO Darren M. Rebelez sold 19,000 shares of the stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $801.46, for a total transaction of $15,227,740.00. Following the sale, the chief executive officer owned 89,174 shares of the company’s stock, valued at $71,469,394.04. This trade represents a 17.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 30,243 shares of company stock worth $24,421,877 in the last three months. Company 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.