Greenwood Capital Associates LLC Acquires Shares of 4,156 Casey’s General Stores, Inc. $CASY

Greenwood Capital Associates LLC bought a new position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 4,156 shares of the company’s stock, valued at approximately $3,303,000.

A number of other hedge funds also recently modified their holdings of CASY. NewEdge Advisors LLC grew its stake in Casey’s General Stores by 6.4% during the first quarter. NewEdge Advisors LLC now owns 1,871 shares of the company’s stock worth $812,000 after buying an additional 113 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Casey’s General Stores by 129.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 186 shares of the company’s stock worth $81,000 after acquiring an additional 105 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Casey’s General Stores by 431.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company’s stock worth $111,000 after acquiring an additional 177 shares during the period. Amundi acquired a new stake in shares of Casey’s General Stores during the 2nd quarter worth approximately $338,000. Finally, Jump Financial LLC boosted its position in shares of Casey’s General Stores by 42.6% during the 2nd quarter. Jump Financial LLC now owns 968 shares of the company’s stock worth $494,000 after acquiring an additional 289 shares in the last quarter. Institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Stock Down 1.0%

Shares of NASDAQ:CASY opened at $755.47 on Friday. The company has a fifty day moving average of $831.92 and a 200-day moving average of $781.32. The company has a market capitalization of $27.96 billion, a PE ratio of 39.43, a price-to-earnings-growth ratio of 2.59 and a beta of 0.61. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 1.01. Casey’s General Stores, Inc. has a 52-week low of $490.00 and a 52-week high of $927.85.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, beating 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 company had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.33 billion. During the same quarter last year, the business posted $2.63 EPS. Casey’s General Stores’s revenue for the quarter was up 14.5% on a year-over-year basis. On average, equities analysts predict that Casey’s General Stores, Inc. will post 21.11 EPS for the current fiscal year.

Casey’s General Stores Increases Dividend

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

Insider Activity at Casey’s General Stores

In other news, insider Katrina S. Lindsey sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $800.00, for a total value of $1,600,000.00. Following the completion of the transaction, the insider owned 6,668 shares of the company’s stock, valued at $5,334,400. This represents a 23.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Chad Michael Frazell sold 3,013 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $787.49, for a total transaction of $2,372,707.37. Following the completion of the transaction, the insider owned 9,823 shares of the company’s stock, valued at approximately $7,735,514.27. This trade represents a 23.47% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 30,243 shares of company stock valued at $24,421,877. Corporate insiders own 0.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CASY shares. Zacks Research downgraded shares of Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 5th. William Blair initiated coverage on Casey’s General Stores in a research note on Wednesday, May 20th. They issued an “outperform” rating on the stock. Evercore reissued an “outperform” rating and set a $990.00 price target on shares of Casey’s General Stores in a report on Friday, June 12th. KeyCorp upped their price objective on Casey’s General Stores from $950.00 to $970.00 and gave the stock an “overweight” rating in a research report on Thursday, June 11th. Finally, Capital One Financial assumed coverage on Casey’s General Stores in a research note on Monday, June 22nd. They issued an “equal weight” rating and a $896.00 price objective on the stock. Fourteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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.