Ceredex Value Advisors LLC Makes New Investment in Casey’s General Stores, Inc. $CASY

Ceredex Value Advisors LLC acquired a new position in Casey’s General Stores, Inc. (NASDAQ:CASY) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 28,375 shares of the company’s stock, valued at approximately $22,552,000.

A number of other large investors also recently modified their holdings of CASY. Whipplewood Advisors LLC purchased a new position in shares of Casey’s General Stores during the first quarter valued at approximately $33,000. Bell Investment Advisors Inc purchased a new stake in Casey’s General Stores in the 2nd quarter valued at $33,000. Larson Financial Group LLC lifted its stake 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 valued at $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 1st quarter. RMG Wealth Management LLC now owns 56 shares of the company’s stock valued at $41,000 after acquiring an additional 40 shares in the last quarter. Finally, Elyxium Wealth LLC bought a new position in Casey’s General Stores during the 4th quarter valued at $43,000. Institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Stock Performance

Shares of Casey’s General Stores stock opened at $828.38 on Friday. The business’s fifty day simple moving average is $838.47 and its 200 day simple moving average is $775.47. 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 12 month low of $490.00 and a 12 month high of $927.85. The firm has a market capitalization of $30.66 billion, a P/E ratio of 43.23, a price-to-earnings-growth ratio of 2.80 and a beta of 0.61.

Casey’s General Stores (NASDAQ:CASY) last announced 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. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.The firm had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.33 billion. During the same quarter in the prior year, the company earned $2.63 EPS. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, analysts anticipate that Casey’s General Stores, Inc. will post 21.11 EPS for the current year.

Casey’s General Stores Increases Dividend

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CASY. 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 for the company in a research note on Monday, June 29th. Zacks Research lowered shares of Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 5th. UBS Group raised their price target on shares of Casey’s General Stores from $805.00 to $945.00 and gave the company a “neutral” rating in a research report on Thursday, June 11th. Wells Fargo & Company boosted their price target on shares of Casey’s General Stores from $910.00 to $960.00 and gave the stock an “overweight” rating in a report on Thursday, June 11th. Finally, Wolfe Research reaffirmed an “outperform” rating and issued a $1,069.00 price objective on shares of Casey’s General Stores in a research report on Thursday, June 11th. Fourteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Casey’s General Stores presently has a consensus rating of “Moderate Buy” and a consensus target price of $944.20.

Insider Activity at Casey’s General Stores

In related news, insider Chad Michael Frazell sold 3,013 shares of the firm’s stock in a transaction dated 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 owned 9,823 shares in the company, valued at approximately $7,735,514.27. This trade represents a 23.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Katrina S. Lindsey sold 2,000 shares of the firm’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $800.00, for a total transaction of $1,600,000.00. Following the sale, the insider owned 6,668 shares of the company’s stock, valued at $5,334,400. This trade represents a 23.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 30,243 shares of company stock valued at $24,421,877 in the last 90 days. 0.67% of the stock is currently owned by company insiders.

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.