Meridian Wealth Management LLC Increases Holdings in Casey’s General Stores, Inc. $CASY

Meridian Wealth Management LLC boosted its position in Casey’s General Stores, Inc. (NASDAQ:CASY) by 8.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,323 shares of the company’s stock after buying an additional 108 shares during the period. Meridian Wealth Management LLC’s holdings in Casey’s General Stores were worth $675,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Summit Securities Group LLC acquired a new stake in Casey’s General Stores during the 1st quarter valued at approximately $32,000. Nvwm LLC purchased a new position in shares of Casey’s General Stores during the second quarter worth $32,000. Rossby Financial LCC raised its holdings in shares of Casey’s General Stores by 580.0% during the second quarter. Rossby Financial LCC now owns 68 shares of the company’s stock worth $35,000 after purchasing an additional 58 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Casey’s General Stores during the second quarter valued at $42,000. Finally, WPG Advisers LLC acquired a new position in Casey’s General Stores during the first quarter valued at $47,000. Institutional investors and hedge funds own 85.63% of the company’s stock.

Insider Buying and Selling

In related news, insider Chad Michael Frazell sold 3,487 shares of the business’s stock in a transaction on 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 completion of the sale, the insider 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Wells Fargo & Company began coverage on Casey’s General Stores in a research report on Wednesday, October 15th. They set an “overweight” rating and a $610.00 price target on the stock. BMO Capital Markets upped their target price on Casey’s General Stores from $515.00 to $540.00 and gave the stock a “market perform” rating in a research note on Wednesday, September 10th. Jefferies Financial Group raised their target price on Casey’s General Stores from $575.00 to $600.00 and gave the stock a “buy” rating in a report on Tuesday, September 9th. Weiss Ratings reissued a “buy (b+)” rating on shares of Casey’s General Stores in a report on Thursday. Finally, Stephens restated an “overweight” rating and issued a $570.00 price objective on shares of Casey’s General Stores in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $564.00.

Casey’s General Stores Price Performance

Shares of Casey’s General Stores stock opened at $536.34 on Tuesday. The firm has a market cap of $19.94 billion, a PE ratio of 34.42 and a beta of 0.66. Casey’s General Stores, Inc. has a twelve month low of $372.08 and a twelve month high of $572.18. The company has a quick ratio of 0.61, a current ratio of 1.03 and a debt-to-equity ratio of 0.65. The business has a 50-day moving average price of $545.67 and a 200 day moving average price of $511.48.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Monday, September 8th. The company reported $5.77 EPS for the quarter, beating the consensus estimate of $5.02 by $0.75. The company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.47 billion. Casey’s General Stores had a return on equity of 16.73% and a net margin of 3.54%.Casey’s General Stores’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period last year, the company earned $4.83 earnings per share. Sell-side analysts predict that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey’s General Stores Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Saturday, November 1st were paid a $0.57 dividend. The ex-dividend date of this dividend 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 (DPR) is currently 14.63%.

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.