Elevation Point Wealth Partners LLC Sells 686 Shares of Casey’s General Stores, Inc. $CASY

Elevation Point Wealth Partners LLC decreased its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 40.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,019 shares of the company’s stock after selling 686 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Casey’s General Stores were worth $520,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Wellington Management Group LLP lifted its stake in shares of Casey’s General Stores by 190.6% in the first quarter. Wellington Management Group LLP now owns 1,244,311 shares of the company’s stock valued at $540,081,000 after buying an additional 816,110 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Casey’s General Stores by 42.0% in the 1st quarter. JPMorgan Chase & Co. now owns 1,036,426 shares of the company’s stock worth $449,851,000 after acquiring an additional 306,628 shares during the period. Franklin Resources Inc. grew its holdings in shares of Casey’s General Stores by 0.3% during the 2nd quarter. Franklin Resources Inc. now owns 708,893 shares of the company’s stock worth $361,727,000 after purchasing an additional 2,467 shares in the last quarter. Raymond James Financial Inc. grew its holdings in shares of Casey’s General Stores by 8.9% during the 1st quarter. Raymond James Financial Inc. now owns 649,815 shares of the company’s stock worth $282,045,000 after purchasing an additional 52,939 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of Casey’s General Stores by 9.1% during the second quarter. Envestnet Asset Management Inc. now owns 448,919 shares of the company’s stock valued at $229,070,000 after purchasing an additional 37,625 shares during the period. Institutional investors and hedge funds own 85.63% of the company’s stock.

Casey’s General Stores Stock Down 0.1%

CASY opened at $570.76 on Friday. The firm has a market cap of $21.22 billion, a price-to-earnings ratio of 36.63 and a beta of 0.66. 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 firm’s 50-day simple moving average is $547.40 and its 200-day simple moving average is $517.17. Casey’s General Stores, Inc. has a twelve month low of $372.08 and a twelve month high of $573.76.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings results on Monday, September 8th. The company reported $5.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.02 by $0.75. The firm had revenue of $4.57 billion during 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 last year, the firm posted $4.83 EPS. Equities research analysts anticipate that Casey’s General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey’s General Stores Announces Dividend

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

Insiders Place Their Bets

In other Casey’s General Stores news, insider Chad Michael Frazell sold 3,487 shares of Casey’s General Stores stock in a transaction on Monday, September 29th. The stock was sold at an average price of $555.40, for a total value of $1,936,679.80. Following the completion of the transaction, the insider owned 7,993 shares in the company, valued at approximately $4,439,312.20. The trade was a 30.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.54% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently commented on CASY. Wells Fargo & Company assumed coverage on Casey’s General Stores in a research report on Wednesday, October 15th. They issued an “overweight” rating and a $610.00 target price for the company. Zacks Research downgraded shares of Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a report on Friday, November 21st. Evercore ISI upped their target price on shares of Casey’s General Stores from $580.00 to $585.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Weiss Ratings reissued a “buy (b)” rating on shares of Casey’s General Stores in a research report on Tuesday. Finally, Jefferies Financial Group lifted their price objective on Casey’s General Stores from $575.00 to $600.00 and gave the company a “buy” rating in a report on Tuesday, September 9th. Seven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $564.00.

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.