AlphaQuest LLC Makes New Investment in Casey’s General Stores, Inc. $CASY

AlphaQuest LLC bought a new position in Casey’s General Stores, Inc. (NASDAQ:CASY) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 413 shares of the company’s stock, valued at approximately $211,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Valmark Advisers Inc. increased its position in Casey’s General Stores by 0.5% in the second quarter. Valmark Advisers Inc. now owns 4,404 shares of the company’s stock worth $2,247,000 after buying an additional 21 shares during the period. Iron Horse Wealth Management LLC increased its position in Casey’s General Stores by 40.0% in the first quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company’s stock worth $40,000 after buying an additional 26 shares during the period. Menard Financial Group LLC increased its position in Casey’s General Stores by 2.1% in the first quarter. Menard Financial Group LLC now owns 1,290 shares of the company’s stock worth $603,000 after buying an additional 27 shares during the period. Accurate Wealth Management LLC increased its position in Casey’s General Stores by 3.9% in the second quarter. Accurate Wealth Management LLC now owns 727 shares of the company’s stock worth $381,000 after buying an additional 27 shares during the period. Finally, Applied Capital LLC FL grew its stake in shares of Casey’s General Stores by 4.4% in the first quarter. Applied Capital LLC FL now owns 659 shares of the company’s stock worth $286,000 after purchasing an additional 28 shares in the last quarter. 85.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CASY shares. Wells Fargo & Company started coverage on Casey’s General Stores in a research note on Wednesday, October 15th. They issued an “overweight” rating and a $610.00 price target for the company. Zacks Research raised Casey’s General Stores from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. Stephens reissued an “overweight” rating and issued a $570.00 price target on shares of Casey’s General Stores in a research note on Wednesday, October 8th. Evercore ISI increased their price target on Casey’s General Stores from $580.00 to $585.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Casey’s General Stores in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $536.60.

Insider Transactions at Casey’s General Stores

In related news, insider Chad Michael Frazell sold 3,487 shares of Casey’s General Stores stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $555.40, for a total transaction of $1,936,679.80. Following the transaction, the insider directly owned 7,993 shares of the company’s stock, valued at $4,439,312.20. The trade was a 30.37% 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. 0.54% of the stock is currently owned by insiders.

Casey’s General Stores Price Performance

NASDAQ:CASY opened at $513.19 on Monday. The business’s 50-day moving average price is $538.93 and its 200 day moving average price is $505.71. The firm has a market cap of $19.08 billion, a P/E ratio of 32.94 and a beta of 0.68. Casey’s General Stores, Inc. has a 52-week low of $372.08 and a 52-week 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.

Casey’s General Stores (NASDAQ:CASY) last released its earnings results on Monday, September 8th. The company reported $5.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.02 by $0.75. The firm 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 revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the company earned $4.83 earnings per share. As a group, 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Saturday, November 1st will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Friday, October 31st. Casey’s General Stores’s payout ratio is presently 14.63%.

About Casey’s General Stores

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.