Diversify Advisory Services LLC Buys New Stake in Casey’s General Stores, Inc. $CASY

Diversify Advisory Services LLC acquired a new position in Casey’s General Stores, Inc. (NASDAQ:CASY) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,991 shares of the company’s stock, valued at approximately $1,699,000.

Other institutional investors have also recently made changes to their positions in the company. Whipplewood Advisors LLC purchased a new stake in Casey’s General Stores during the 1st quarter valued at about $33,000. Bell Investment Advisors Inc purchased a new stake in Casey’s General Stores during the second quarter worth about $33,000. Larson Financial Group LLC grew its holdings in Casey’s General Stores by 252.4% during the 4th quarter. Larson Financial Group LLC now owns 74 shares of the company’s stock worth $41,000 after acquiring an additional 53 shares in the last quarter. RMG Wealth Management LLC lifted its stake 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 during the last quarter. Finally, Elyxium Wealth LLC purchased a new stake in shares of Casey’s General Stores in the 4th quarter valued at about $43,000. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Insider Transactions at Casey’s General Stores

In related news, CEO Darren M. Rebelez sold 19,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer directly 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Katrina S. Lindsey sold 2,000 shares of Casey’s General Stores 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 transaction, the insider directly owned 6,668 shares of the company’s stock, valued at $5,334,400. This represents a 23.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 30,243 shares of company stock valued at $24,421,877. 0.67% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CASY has been the subject of several research reports. William Blair initiated coverage on Casey’s General Stores in a report on Wednesday, May 20th. They set an “outperform” rating for the company. The Goldman Sachs Group raised their price objective on Casey’s General Stores from $695.00 to $795.00 and gave the stock a “neutral” rating in a research note on Thursday, June 25th. Northcoast Research raised Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $950.00 price objective for the company in a report on Monday, July 13th. BMO Capital Markets upgraded shares of Casey’s General Stores from a “market perform” rating to an “outperform” rating and set a $950.00 target price on the stock in a report on Monday, June 29th. Finally, BNP Paribas Exane dropped their target price on Casey’s General Stores from $1,032.00 to $995.00 and set an “outperform” rating on the stock in a report 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $944.20.

Casey’s General Stores Stock Performance

NASDAQ CASY opened at $836.15 on Thursday. The company’s fifty day moving average is $840.22 and its two-hundred day moving average is $773.90. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.60. The firm has a market capitalization of $30.95 billion, a price-to-earnings ratio of 43.64, a P/E/G ratio of 2.56 and a beta of 0.61. 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 released its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.31 by $1.06. The business had revenue of $4.57 billion for 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%.Casey’s General Stores’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the business posted $2.63 earnings per share. Equities research analysts forecast that Casey’s General Stores, Inc. will post 21.14 EPS for the current year.

Casey’s General Stores Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Saturday, August 1st were issued a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $2.60 annualized dividend 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 payout ratio is 13.57%.

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.