611 Shares in Casey’s General Stores, Inc. $CASY Acquired by Wealthfront Advisers LLC

Wealthfront Advisers LLC bought a new stake in Casey’s General Stores, Inc. (NASDAQ:CASY) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 611 shares of the company’s stock, valued at approximately $486,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kathmere Capital Management LLC boosted its position in shares of Casey’s General Stores by 3.5% during the first quarter. Kathmere Capital Management LLC now owns 387 shares of the company’s stock worth $282,000 after buying an additional 13 shares during the period. Pinnacle Bancorp Inc. raised its holdings in shares of Casey’s General Stores by 4.8% in the 1st quarter. Pinnacle Bancorp Inc. now owns 303 shares of the company’s stock valued at $221,000 after buying an additional 14 shares during the period. Lincoln Capital LLC lifted its stake in Casey’s General Stores by 4.0% during the 2nd quarter. Lincoln Capital LLC now owns 366 shares of the company’s stock worth $291,000 after acquiring an additional 14 shares in the last quarter. Menard Financial Group LLC lifted its stake in Casey’s General Stores by 1.2% during the 4th quarter. Menard Financial Group LLC now owns 1,267 shares of the company’s stock worth $700,000 after acquiring an additional 15 shares in the last quarter. Finally, Cibc World Market Inc. lifted its stake in Casey’s General Stores by 0.3% during the 4th quarter. Cibc World Market Inc. now owns 5,136 shares of the company’s stock worth $2,839,000 after acquiring an additional 16 shares in the last quarter. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Trading Up 0.9%

NASDAQ:CASY opened at $835.74 on Friday. Casey’s General Stores, Inc. has a 12-month low of $490.00 and a 12-month high of $927.85. The firm has a market cap of $30.93 billion, a PE ratio of 43.62, a price-to-earnings-growth ratio of 2.83 and a beta of 0.61. The company has a current ratio of 1.01, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59. The stock has a fifty day moving average price of $837.28 and a 200 day moving average price of $775.89.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results 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 company had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.33 billion. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.Casey’s General Stores’s revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.63 EPS. Sell-side analysts anticipate 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 paid a dividend of $0.65 per share. The ex-dividend date was Friday, July 31st. This is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.57. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.3%. Casey’s General Stores’s payout ratio is currently 13.57%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Morgan Stanley raised Casey’s General Stores to a “buy” rating in a research report on Wednesday, June 10th. Stephens set a $975.00 price target on shares of Casey’s General Stores and gave the stock an “overweight” rating in a research report on Friday, June 12th. KeyCorp raised their price objective on shares of 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. The Goldman Sachs Group lifted their price objective on shares of Casey’s General Stores from $695.00 to $795.00 and gave the company a “neutral” rating in a report on Thursday, June 25th. Finally, BNP Paribas Exane cut their target price on shares of Casey’s General Stores from $1,032.00 to $995.00 and set an “outperform” rating on the stock in a research note on Thursday, June 25th. Fourteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $944.20.

Insider Activity

In other Casey’s General Stores news, CEO Darren M. Rebelez sold 19,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $801.46, for a total transaction of $15,227,740.00. Following the completion of the transaction, the chief executive officer owned 89,174 shares in the company, valued at $71,469,394.04. The trade was a 17.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Chad Michael Frazell sold 3,013 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $787.49, for a total transaction of $2,372,707.37. Following the completion of the sale, the insider directly owned 9,823 shares in the company, valued at approximately $7,735,514.27. This represents a 23.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 30,243 shares of company stock valued at $24,421,877. 0.67% of the stock is owned by corporate insiders.

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.