1,112 Shares in Casey’s General Stores, Inc. $CASY Purchased by Coastal Bridge Advisors LLC

Coastal Bridge Advisors LLC bought a new position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) during the second quarter, Holdings Channel reports. The fund bought 1,112 shares of the company’s stock, valued at approximately $884,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Jefferies Financial Group Inc. purchased a new stake in shares of Casey’s General Stores in the 2nd quarter valued at approximately $15,114,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Casey’s General Stores during the 2nd quarter valued at approximately $15,678,000. Capstone Investment Advisors LLC purchased a new stake in shares of Casey’s General Stores during the 2nd quarter valued at approximately $2,086,000. Proficio Capital Partners LLC acquired a new position in Casey’s General Stores in the second quarter valued at approximately $843,000. Finally, Transamerica Financial Advisors LLC acquired a new position in Casey’s General Stores in the second quarter valued at approximately $49,000. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Wolfe Research reiterated 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. Stephens set a $975.00 target price on Casey’s General Stores and gave the company an “overweight” rating in a research report on Friday, June 12th. Capital One Financial initiated coverage on Casey’s General Stores in a research note on Monday, June 22nd. They issued an “equal weight” rating and a $896.00 price target on the stock. JPMorgan Chase & Co. increased their price target on Casey’s General Stores from $719.00 to $975.00 and gave the stock a “neutral” rating in a report on Friday, June 12th. Finally, Morgan Stanley raised Casey’s General Stores to a “buy” rating in a research report on Wednesday, June 10th. Fourteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $942.87.

Insider Activity at Casey’s General Stores

In other Casey’s General Stores news, 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 sale, the insider directly owned 9,823 shares in the company, valued at $7,735,514.27. This represents a 23.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $838.16, for a total transaction of $4,777,512.00. Following the completion of the transaction, the chief financial officer directly owned 29,677 shares of the company’s stock, valued at $24,874,074.32. This represents a 16.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 30,243 shares of company stock worth $24,421,877 over the last 90 days. 0.67% of the stock is currently owned by corporate insiders.

Casey’s General Stores Stock Down 5.4%

Shares of NASDAQ:CASY opened at $763.38 on Friday. 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 $28.25 billion, a PE ratio of 39.84, a price-to-earnings-growth ratio of 2.76 and a beta of 0.61. The firm’s 50-day moving average is $833.65 and its two-hundred day moving average is $781.50. Casey’s General Stores, Inc. has a 1 year low of $490.00 and a 1 year high of $927.85.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.31 by $1.06. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. The business had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.33 billion. During the same quarter in the prior year, the company earned $2.63 earnings per share. The business’s quarterly revenue was up 14.5% on a year-over-year basis. Analysts predict 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 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. This represents a $2.60 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Friday, July 31st. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.57. Casey’s General Stores’s payout ratio is currently 13.57%.

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.