Elevation Point Wealth Partners LLC Makes New $665,000 Investment in Casey’s General Stores, Inc. $CASY

Elevation Point Wealth Partners LLC purchased a new stake in Casey’s General Stores, Inc. (NASDAQ:CASY) during the 1st quarter, HoldingsChannel reports. The fund purchased 914 shares of the company’s stock, valued at approximately $665,000.

A number of other large investors have also recently modified their holdings of CASY. Central Pacific Bank Trust Division grew its holdings in shares of Casey’s General Stores by 52.8% during the fourth quarter. Central Pacific Bank Trust Division now owns 55 shares of the company’s stock worth $30,000 after purchasing an additional 19 shares in the last quarter. True Wealth Design LLC raised its stake in Casey’s General Stores by 350.0% in the fourth quarter. True Wealth Design LLC now owns 54 shares of the company’s stock valued at $30,000 after purchasing an additional 42 shares in the last quarter. ORG Partners LLC lifted its position in Casey’s General Stores by 47.6% during the fourth quarter. ORG Partners LLC now owns 62 shares of the company’s stock valued at $34,000 after purchasing an additional 20 shares during the last quarter. Vermillion & White Wealth Management Group LLC bought a new stake in Casey’s General Stores during the third quarter valued at approximately $35,000. Finally, Larson Financial Group LLC increased its holdings in shares of Casey’s General Stores by 252.4% in the 4th quarter. Larson Financial Group LLC now owns 74 shares of the company’s stock worth $41,000 after buying an additional 53 shares during the last quarter. Institutional investors own 85.63% of the company’s stock.

Insiders Place Their Bets

In related news, Director Mike Spanos acquired 256 shares of the company’s stock in a transaction dated Friday, June 26th. The stock was purchased at an average price of $778.81 per share, with a total value of $199,375.36. Following the completion of the purchase, the director owned 4,758 shares in the company, valued at $3,705,577.98. This trade represents a 5.69% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Katrina S. Lindsey sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $800.00, for a total transaction of $1,600,000.00. Following the completion of the transaction, the insider owned 6,668 shares in the company, valued at $5,334,400. This represents a 23.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.54% of the company’s stock.

Casey’s General Stores Stock Performance

Casey’s General Stores stock opened at $801.99 on Wednesday. The firm has a fifty day simple moving average of $821.31 and a two-hundred day simple moving average of $717.55. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. Casey’s General Stores, Inc. has a twelve month low of $490.00 and a twelve month high of $927.85. The company has a market capitalization of $29.68 billion, a PE ratio of 41.86, a P/E/G ratio of 2.42 and a beta of 0.62.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, topping the consensus estimate of $3.31 by $1.06. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.The firm had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.33 billion. During the same quarter in the previous year, the business earned $2.63 earnings per share. The company’s quarterly revenue was up 14.5% on a year-over-year basis. Research analysts expect that Casey’s General Stores, Inc. will post 21.14 EPS for the current year.

Casey’s General Stores Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Saturday, August 1st will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, July 31st. This is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.57. Casey’s General Stores’s dividend payout ratio is 11.90%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Casey’s General Stores in a report on Wednesday, June 24th. Capital One Financial began coverage on Casey’s General Stores in a research note on Monday, June 22nd. They issued an “equal weight” rating and a $896.00 target price on the stock. BNP Paribas Exane lowered their price target on Casey’s General Stores from $1,032.00 to $995.00 and set an “outperform” rating on the stock in a research report on Thursday, June 25th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $1,000.00 price target on shares of Casey’s General Stores in a research note on Monday, June 15th. Finally, BMO Capital Markets upgraded Casey’s General Stores from a “market perform” rating to an “outperform” rating and set a $950.00 price objective for the company in a report on Monday, June 29th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $939.29.

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.