Proficio Capital Partners LLC Makes New $843,000 Investment in Casey’s General Stores, Inc. $CASY

Proficio Capital Partners LLC acquired a new position in Casey’s General Stores, Inc. (NASDAQ:CASY) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,060 shares of the company’s stock, valued at approximately $843,000.

A number of other hedge funds have also bought and sold shares of the business. Transamerica Financial Advisors LLC bought a new position in Casey’s General Stores during the second quarter worth about $49,000. Corient Private Wealth LP bought a new stake in Casey’s General Stores during the second quarter valued at approximately $164,376,000. Ausdal Financial Partners Inc. bought a new position in Casey’s General Stores in the second quarter valued at $677,000. Bank of America Corp DE bought a new position in shares of Casey’s General Stores during the 2nd quarter valued at $281,872,000. Finally, Caisse de depot et placement du Quebec purchased a new position in Casey’s General Stores in the 2nd quarter worth approximately $542,000. 85.63% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CASY has been the topic of several research reports. Evercore reaffirmed an “outperform” rating and set a $990.00 price objective on shares of Casey’s General Stores in a research report on Friday, June 12th. Morgan Stanley raised Casey’s General Stores to a “buy” rating in a research report on Wednesday, June 10th. KeyCorp increased their price objective on shares of Casey’s General Stores from $950.00 to $970.00 and gave the company an “overweight” rating in a research report on Thursday, June 11th. Wells Fargo & Company raised their target price on Casey’s General Stores from $910.00 to $960.00 and gave the stock an “overweight” rating in a research report on Thursday, June 11th. Finally, Stephens set a $975.00 price objective on shares of Casey’s General Stores and gave the company an “overweight” rating in a research report on Friday, June 12th. Fourteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $944.20.

Insiders Place Their Bets

In other news, CEO Darren M. Rebelez sold 19,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $801.46, for a total transaction of $15,227,740.00. Following the completion of the sale, the chief executive officer owned 89,174 shares in the company, valued at approximately $71,469,394.04. The trade was a 17.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Chad Michael Frazell sold 3,013 shares of Casey’s General Stores stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $787.49, for a total value of $2,372,707.37. Following the completion of the transaction, the insider owned 9,823 shares in the company, valued at $7,735,514.27. This trade represents a 23.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 30,243 shares of company stock worth $24,421,877. 0.67% of the stock is currently owned by company insiders.

Casey’s General Stores Stock Down 2.2%

Shares of NASDAQ CASY opened at $807.12 on Thursday. The stock has a market capitalization of $29.87 billion, a PE ratio of 42.13, a price-to-earnings-growth ratio of 2.82 and a beta of 0.61. Casey’s General Stores, Inc. has a 12-month low of $490.00 and a 12-month high of $927.85. The company has a current ratio of 1.01, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59. The stock’s fifty day simple moving average is $835.23 and its two-hundred day simple moving average is $780.78.

Casey’s General Stores (NASDAQ:CASY) last released its earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, topping the consensus estimate of $3.31 by $1.06. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. The company 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 firm earned $2.63 EPS. Casey’s General Stores’s revenue was up 14.5% compared to the same quarter last year. As a group, analysts expect that Casey’s General Stores, Inc. will post 21.11 EPS for the current fiscal year.

Casey’s General Stores Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Saturday, August 1st were given a dividend of $0.65 per share. The ex-dividend date was Friday, July 31st. This is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.57. This represents a $2.60 dividend on an annualized basis and a yield of 0.3%. Casey’s General Stores’s dividend payout ratio (DPR) is 13.57%.

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.