Marks Group Wealth Management Inc Has $6.08 Million Position in Casey’s General Stores, Inc. $CASY

Marks Group Wealth Management Inc cut its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 30.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,359 shares of the company’s stock after selling 3,672 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Casey’s General Stores were worth $6,084,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in CASY. Geode Capital Management LLC increased its holdings in shares of Casey’s General Stores by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 760,438 shares of the company’s stock worth $420,416,000 after buying an additional 52,250 shares in the last quarter. North Dakota State Investment Board acquired a new position in shares of Casey’s General Stores in the 4th quarter worth approximately $720,000. Burns J W & Co. Inc. NY boosted its holdings in shares of Casey’s General Stores by 103.5% in the 1st quarter. Burns J W & Co. Inc. NY now owns 2,448 shares of the company’s stock worth $1,782,000 after acquiring an additional 1,245 shares in the last quarter. Jackson Creek Investment Advisors LLC bought a new stake in Casey’s General Stores during the 4th quarter worth approximately $1,338,000. Finally, PNC Financial Services Group Inc. grew its position in Casey’s General Stores by 2.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 140,491 shares of the company’s stock worth $77,651,000 after acquiring an additional 3,553 shares during the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

Insider Buying and Selling at Casey’s General Stores

In related news, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $838.16, for a total value of $4,777,512.00. Following the transaction, the chief financial officer owned 29,677 shares in the company, valued at $24,874,074.32. This trade represents a 16.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Darren M. Rebelez sold 19,000 shares of Casey’s General Stores stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $801.46, for a total value of $15,227,740.00. Following the completion of the sale, the chief executive officer owned 89,174 shares of the company’s stock, valued at approximately $71,469,394.04. The trade was a 17.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 30,243 shares of company stock valued at $24,421,877 over the last ninety days. Company insiders own 0.54% of the company’s stock.

Casey’s General Stores Stock Performance

CASY stock opened at $808.49 on Thursday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.60. The company has a 50 day moving average price of $823.04 and a 200 day moving average price of $728.93. Casey’s General Stores, Inc. has a fifty-two week low of $490.00 and a fifty-two week high of $927.85. The stock has a market capitalization of $29.92 billion, a PE ratio of 42.20, a price-to-earnings-growth ratio of 2.54 and a beta of 0.62.

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

Casey’s General Stores Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Saturday, August 1st will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.3%. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, July 31st. Casey’s General Stores’s payout ratio is currently 13.57%.

Analyst Ratings Changes

CASY has been the subject of several research analyst reports. KeyCorp lifted their price objective on 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. The Goldman Sachs Group increased their target price on Casey’s General Stores from $695.00 to $795.00 and gave the stock a “neutral” rating in a report on Thursday, June 25th. Stephens set a $975.00 target price on Casey’s General Stores and gave the company an “overweight” rating in a research note on Friday, June 12th. Royal Bank Of Canada raised their target price on Casey’s General Stores from $794.00 to $850.00 and gave the company a “sector perform” rating in a research note on Thursday, June 25th. Finally, Wells Fargo & Company lifted their price target on Casey’s General Stores from $910.00 to $960.00 and gave the company an “overweight” rating in a report on Thursday, June 11th. Fourteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Casey’s General Stores has a consensus rating of “Moderate Buy” and a consensus target price of $940.00.

Casey’s General Stores Company 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.