Proficio Capital Partners LLC Acquires Shares of 1,060 Casey’s General Stores, Inc. $CASY

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

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Geode Capital Management LLC increased its holdings in shares of Casey’s General Stores by 7.4% in the 4th quarter. Geode Capital Management LLC now owns 760,438 shares of the company’s stock valued at $420,416,000 after acquiring an additional 52,250 shares during the last quarter. Daiichi Life Insurance Co. Ltd. bought a new position in Casey’s General Stores during the second quarter worth $1,222,000. Burns J W & Co. Inc. NY lifted its stake in Casey’s General Stores by 103.5% during the first quarter. Burns J W & Co. Inc. NY now owns 2,448 shares of the company’s stock worth $1,782,000 after purchasing an additional 1,245 shares during the last quarter. North Dakota State Investment Board acquired a new position in Casey’s General Stores in the fourth quarter worth $720,000. Finally, Jackson Creek Investment Advisors LLC acquired a new position in Casey’s General Stores in the fourth quarter worth $1,338,000. Institutional investors own 85.63% of the company’s stock.

Insider Activity

In other Casey’s General Stores news, Director Allison M. Wing sold 530 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $837.58, for a total value of $443,917.40. Following the sale, the director owned 3,042 shares in the company, valued at approximately $2,547,918.36. This trade represents a 14.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Katrina S. Lindsey sold 2,000 shares of Casey’s General Stores stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $800.00, for a total value of $1,600,000.00. Following the sale, the insider directly owned 6,668 shares in the company, valued at approximately $5,334,400. This trade represents a 23.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 30,243 shares of company stock worth $24,421,877 over the last three months. Insiders own 0.67% of the company’s stock.

Casey’s General Stores Price Performance

Shares of NASDAQ CASY opened at $766.91 on Wednesday. Casey’s General Stores, Inc. has a 1-year low of $490.50 and a 1-year high of $927.85. 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 business’s fifty day moving average price is $829.03 and its two-hundred day moving average price is $783.70. The firm has a market capitalization of $28.38 billion, a PE ratio of 40.03, a P/E/G ratio of 2.57 and a beta of 0.59.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.31 by $1.06. The company had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.33 billion. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period last year, the business posted $2.63 earnings per share. On average, research analysts expect that Casey’s General Stores, Inc. will post 21.11 EPS for the current year.

Casey’s General Stores Increases Dividend

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on CASY. Capital One Financial initiated coverage on shares of Casey’s General Stores in a research note on Monday, June 22nd. They set an “equal weight” rating and a $896.00 target price for the company. Wells Fargo & Company lifted their price target on shares of Casey’s General Stores from $910.00 to $960.00 and gave the company an “overweight” rating in a report on Thursday, June 11th. BMO Capital Markets raised shares of 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 research report on Monday, June 29th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $913.00 price objective on shares of Casey’s General Stores in a research note on Wednesday, July 29th. Finally, Weiss Ratings cut shares of Casey’s General Stores from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, July 21st. Fourteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Casey’s General Stores has a consensus rating of “Moderate Buy” and a consensus price target of $942.87.

About Casey’s General Stores

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.