Casey’s General Stores, Inc. (NASDAQ:CASY) Shares Bought by Moran Wealth Management LLC

Moran Wealth Management LLC grew its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 3.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 10,966 shares of the company’s stock after acquiring an additional 399 shares during the period. Moran Wealth Management LLC’s holdings in Casey’s General Stores were worth $4,760,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Flagship Harbor Advisors LLC grew its stake in Casey’s General Stores by 4.1% in the first quarter. Flagship Harbor Advisors LLC now owns 590 shares of the company’s stock worth $256,000 after purchasing an additional 23 shares in the last quarter. HighPoint Advisor Group LLC lifted its holdings in Casey’s General Stores by 1.7% during the 4th quarter. HighPoint Advisor Group LLC now owns 1,468 shares of the company’s stock worth $628,000 after buying an additional 25 shares during the last quarter. Burns J W & Co. Inc. NY grew its position in shares of Casey’s General Stores by 2.1% in the 1st quarter. Burns J W & Co. Inc. NY now owns 1,204 shares of the company’s stock worth $522,000 after acquiring an additional 25 shares in the last quarter. Dark Forest Capital Management LP grew its position in shares of Casey’s General Stores by 3.2% in the 4th quarter. Dark Forest Capital Management LP now owns 902 shares of the company’s stock worth $357,000 after acquiring an additional 28 shares in the last quarter. Finally, Harbour Investments Inc. increased its holdings in shares of Casey’s General Stores by 3.1% in the 4th quarter. Harbour Investments Inc. now owns 1,002 shares of the company’s stock valued at $397,000 after acquiring an additional 30 shares during the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

Insider Activity

In other news, insider Katrina S. Lindsey sold 250 shares of the stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $437.01, for a total value of $109,252.50. Following the completion of the transaction, the insider now directly owns 2,443 shares in the company, valued at $1,067,615.43. This trade represents a 9.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Thomas P. Brennan, Jr. sold 6,600 shares of the business’s stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $506.03, for a total value of $3,339,798.00. Following the sale, the insider now directly owns 2,100 shares in the company, valued at approximately $1,062,663. The trade was a 75.86% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,136 shares of company stock valued at $21,860,121. Company insiders own 0.56% of the company’s stock.

Casey’s General Stores Price Performance

Shares of NASDAQ:CASY opened at $505.13 on Thursday. The firm’s 50 day moving average is $463.26 and its two-hundred day moving average is $431.14. The firm has a market capitalization of $18.78 billion, a P/E ratio of 34.50, a PEG ratio of 2.54 and a beta of 0.65. The company has a current ratio of 0.92, a quick ratio of 0.48 and a debt-to-equity ratio of 0.69. Casey’s General Stores, Inc. has a 52 week low of $350.52 and a 52 week high of $514.32.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Monday, June 9th. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $1.94 by $0.69. The firm had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.95 billion. Casey’s General Stores had a return on equity of 16.28% and a net margin of 3.43%. The firm’s revenue was up 10.9% compared to the same quarter last year. During the same period last year, the firm earned $2.34 EPS. Analysts anticipate that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey’s General Stores Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.45%. This is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, August 1st. Casey’s General Stores’s dividend payout ratio (DPR) is 13.66%.

Wall Street Analyst Weigh In

CASY has been the topic of several research analyst reports. Evercore ISI raised their price objective on Casey’s General Stores from $450.00 to $460.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 1st. Wells Fargo & Company increased their target price on shares of Casey’s General Stores from $460.00 to $540.00 and gave the stock an “overweight” rating in a report on Wednesday, June 11th. Stephens reaffirmed an “overweight” rating and issued a $490.00 price target on shares of Casey’s General Stores in a report on Tuesday, June 10th. Royal Bank Of Canada set a $438.00 price objective on shares of Casey’s General Stores and gave the stock a “sector perform” rating in a research note on Wednesday, March 12th. Finally, BMO Capital Markets raised their target price on shares of Casey’s General Stores from $450.00 to $515.00 and gave the stock a “market perform” rating in a report on Wednesday, June 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $453.00.

Casey’s General Stores Profile

Casey’s General Stores, Inc engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.