Precision Wealth Strategies LLC Buys New Shares in Casey’s General Stores, Inc. $CASY

Precision Wealth Strategies LLC bought a new stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 469 shares of the company’s stock, valued at approximately $240,000.

A number of other institutional investors also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC raised its holdings in Casey’s General Stores by 5.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,875 shares of the company’s stock worth $1,139,000 after buying an additional 161 shares during the last quarter. Versant Capital Management Inc acquired a new position in shares of Casey’s General Stores during the first quarter valued at about $25,000. Merit Financial Group LLC acquired a new position in shares of Casey’s General Stores during the first quarter valued at about $336,000. Fulton Bank N.A. acquired a new position in shares of Casey’s General Stores during the first quarter valued at about $244,000. Finally, Whipplewood Advisors LLC grew its holdings in shares of Casey’s General Stores by 160.0% during the first quarter. Whipplewood Advisors LLC now owns 117 shares of the company’s stock valued at $51,000 after buying an additional 72 shares during the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

Casey’s General Stores Price Performance

Shares of NASDAQ:CASY opened at $561.40 on Friday. The company’s 50-day moving average is $525.61 and its 200 day moving average is $486.86. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.61 and a current ratio of 1.03. The company has a market capitalization of $20.87 billion, a P/E ratio of 36.03 and a beta of 0.68. Casey’s General Stores, Inc. has a fifty-two week low of $363.00 and a fifty-two week high of $571.57.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Monday, September 8th. The company reported $5.77 earnings per share for the quarter, topping analysts’ consensus estimates of $5.02 by $0.75. The company had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.47 billion. Casey’s General Stores had a net margin of 3.54% and a return on equity of 16.73%. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the firm earned $4.83 EPS. On average, equities research analysts forecast that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey’s General Stores Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Saturday, November 1st will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, October 31st. Casey’s General Stores’s payout ratio is 14.63%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CASY shares. Jefferies Financial Group lifted their price objective on shares of Casey’s General Stores from $575.00 to $600.00 and gave the company a “buy” rating in a report on Tuesday, September 9th. Evercore ISI lifted their price objective on shares of Casey’s General Stores from $560.00 to $580.00 and gave the company an “outperform” rating in a report on Wednesday, September 10th. The Goldman Sachs Group lifted their price objective on shares of Casey’s General Stores from $450.00 to $490.00 and gave the company a “neutral” rating in a report on Wednesday, September 10th. KeyCorp upped their target price on shares of Casey’s General Stores from $550.00 to $575.00 and gave the stock an “overweight” rating in a research note on Friday, July 25th. Finally, Wells Fargo & Company upped their target price on shares of Casey’s General Stores from $540.00 to $580.00 and gave the stock an “overweight” rating in a research note on Monday, September 8th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $529.10.

Insider Buying and Selling at Casey’s General Stores

In related news, insider Chad Michael Frazell sold 3,487 shares of the business’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $555.40, for a total value of $1,936,679.80. Following the transaction, the insider directly owned 7,993 shares of the company’s stock, valued at approximately $4,439,312.20. The trade was a 30.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.54% of the company’s stock.

About Casey’s General Stores

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.