NWK Group Inc. Acquires Shares of 1,658 Casey’s General Stores, Inc. $CASY

NWK Group Inc. purchased a new stake in Casey’s General Stores, Inc. (NASDAQ:CASY) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 1,658 shares of the company’s stock, valued at approximately $1,318,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Whipplewood Advisors LLC acquired a new position in Casey’s General Stores during the first quarter worth about $33,000. Bell Investment Advisors Inc acquired a new stake in shares of Casey’s General Stores during the 2nd quarter worth about $33,000. Larson Financial Group LLC increased its position in shares of Casey’s General Stores by 252.4% during the fourth quarter. Larson Financial Group LLC now owns 74 shares of the company’s stock valued at $41,000 after acquiring an additional 53 shares during the last quarter. RMG Wealth Management LLC raised its position in Casey’s General Stores by 250.0% in the first quarter. RMG Wealth Management LLC now owns 56 shares of the company’s stock valued at $41,000 after purchasing an additional 40 shares during the period. Finally, Elyxium Wealth LLC purchased a new stake in shares of Casey’s General Stores in the 4th quarter valued at $43,000. Institutional investors and hedge funds own 85.63% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Royal Bank Of Canada reiterated a “sector perform” rating and set a $913.00 target price on shares of Casey’s General Stores in a report on Wednesday, July 29th. BMO Capital Markets raised Casey’s General Stores from a “market perform” rating to an “outperform” rating and set a $950.00 price target for the company in a report on Monday, June 29th. KeyCorp raised their price objective on Casey’s General Stores from $950.00 to $970.00 and gave the stock an “overweight” rating in a report on Thursday, June 11th. BNP Paribas Exane cut their target price on shares of Casey’s General Stores from $1,032.00 to $995.00 and set an “outperform” rating on the stock in a report on Thursday, June 25th. Finally, Zacks Research cut Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 5th. Fourteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Casey’s General Stores currently has an average rating of “Moderate Buy” and an average price target of $944.20.

Casey’s General Stores Trading Down 2.2%

Shares of CASY stock opened at $836.15 on Thursday. The business’s fifty day moving average price is $840.22 and its 200 day moving average price is $773.90. Casey’s General Stores, Inc. has a 1-year low of $490.00 and a 1-year high of $927.85. The firm has a market capitalization of $30.95 billion, a PE ratio of 43.64, a P/E/G ratio of 2.56 and a beta of 0.61. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.60.

Casey’s General Stores (NASDAQ:CASY) last released 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. 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 during the quarter, compared to analysts’ expectations of $4.33 billion. During the same quarter in the prior year, the business posted $2.63 earnings per share. Casey’s General Stores’s revenue was up 14.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Casey’s General Stores, Inc. will post 21.14 EPS for the current fiscal year.

Casey’s General Stores Increases Dividend

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

Insiders Place Their Bets

In other news, insider Chad Michael Frazell sold 3,013 shares of the stock in a transaction dated 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $838.16, for a total transaction of $4,777,512.00. Following the completion of the sale, the chief financial officer owned 29,677 shares of the company’s stock, valued at $24,874,074.32. This trade represents a 16.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 30,243 shares of company stock worth $24,421,877. Insiders own 0.67% of the company’s stock.

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.