Elevation Point Wealth Partners LLC Acquires Shares of 849 Casey’s General Stores, Inc. $CASY

Elevation Point Wealth Partners LLC bought a new stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 849 shares of the company’s stock, valued at approximately $674,000.

Other hedge funds also recently modified their holdings of the company. Daiichi Life Insurance Co. Ltd. acquired a new stake in Casey’s General Stores during the second quarter worth about $1,222,000. Commerce Bank bought a new stake in shares of Casey’s General Stores during the 2nd quarter worth approximately $11,483,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Casey’s General Stores during the 2nd quarter worth approximately $809,000. Quantbot Technologies LP acquired a new stake in shares of Casey’s General Stores during the 2nd quarter worth approximately $307,000. Finally, Farringdon Capital Ltd. acquired a new position in Casey’s General Stores during the second quarter valued at approximately $216,000. Institutional investors own 85.63% of the company’s stock.

Insiders Place Their Bets

In other news, insider Katrina S. Lindsey sold 2,000 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $800.00, for a total transaction of $1,600,000.00. Following the completion of the sale, the insider directly owned 6,668 shares in the company, valued at $5,334,400. This represents a 23.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Darren M. Rebelez sold 19,000 shares of Casey’s General Stores 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 transaction, the chief executive officer directly owned 89,174 shares of the company’s stock, valued at $71,469,394.04. This represents a 17.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 30,243 shares of company stock valued at $24,421,877 over the last three months. Insiders own 0.67% of the company’s stock.

Casey’s General Stores Stock Up 2.2%

Shares of CASY opened at $854.21 on Tuesday. Casey’s General Stores, Inc. has a 52 week low of $490.00 and a 52 week high of $927.85. The stock has a market capitalization of $31.61 billion, a price-to-earnings ratio of 44.58, a PEG ratio of 2.86 and a beta of 0.61. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 1.01. The stock has a fifty day moving average of $836.91 and a 200-day moving average of $778.44.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 earnings per share 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 return on equity of 18.73% and a net margin of 4.07%.Casey’s General Stores’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.63 EPS. As a group, 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 business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Saturday, August 1st were given a $0.65 dividend. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.57. The ex-dividend date was Friday, July 31st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.3%. Casey’s General Stores’s dividend payout ratio is presently 13.57%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Weiss Ratings downgraded Casey’s General Stores from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, July 21st. UBS Group boosted their price target on Casey’s General Stores from $805.00 to $945.00 and gave the stock a “neutral” rating in a report on Thursday, June 11th. Morgan Stanley raised Casey’s General Stores to a “buy” rating in a research note on Wednesday, June 10th. William Blair started coverage on Casey’s General Stores in a research report on Wednesday, May 20th. They issued an “outperform” rating on the stock. Finally, Stephens set a $975.00 target price on Casey’s General Stores and gave the stock an “overweight” rating in a research note on Friday, June 12th. Fourteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Casey’s General Stores currently has an average rating of “Moderate Buy” and a consensus price target of $944.20.

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.