AE Wealth Management LLC Has $721,000 Stock Position in Casey’s General Stores, Inc. $CASY

AE Wealth Management LLC increased its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 21.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,412 shares of the company’s stock after buying an additional 251 shares during the quarter. AE Wealth Management LLC’s holdings in Casey’s General Stores were worth $721,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CASY. Wellington Management Group LLP increased its holdings in shares of Casey’s General Stores by 190.6% in the first quarter. Wellington Management Group LLP now owns 1,244,311 shares of the company’s stock worth $540,081,000 after acquiring an additional 816,110 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Casey’s General Stores by 42.0% during the 1st quarter. JPMorgan Chase & Co. now owns 1,036,426 shares of the company’s stock valued at $449,851,000 after purchasing an additional 306,628 shares in the last quarter. Third Point LLC acquired a new position in shares of Casey’s General Stores in the 1st quarter valued at approximately $130,212,000. Nuveen LLC bought a new stake in Casey’s General Stores during the 1st quarter worth approximately $76,467,000. Finally, Alyeska Investment Group L.P. bought a new stake in Casey’s General Stores during the 1st quarter worth approximately $65,298,000. 85.63% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wells Fargo & Company assumed coverage on shares of Casey’s General Stores in a research note on Wednesday, October 15th. They issued an “overweight” rating and a $610.00 price target on the stock. BMO Capital Markets boosted their price objective on shares of Casey’s General Stores from $515.00 to $540.00 and gave the company a “market perform” rating in a research report on Wednesday, September 10th. KeyCorp upped their target price on shares of Casey’s General Stores from $550.00 to $575.00 and gave the stock an “overweight” rating in a research note on Friday, July 25th. Evercore ISI lifted their price target on Casey’s General Stores from $580.00 to $585.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Finally, Zacks Research upgraded Casey’s General Stores from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $564.00.

Casey’s General Stores Stock Up 0.3%

CASY opened at $536.66 on Friday. The stock’s fifty day simple moving average is $544.72 and its 200 day simple moving average is $509.67. Casey’s General Stores, Inc. has a 1-year low of $372.08 and a 1-year high of $572.18. The stock has a market cap of $19.95 billion, a PE ratio of 34.45 and a beta of 0.66. The company has a current ratio of 1.03, a quick ratio of 0.61 and a debt-to-equity ratio of 0.65.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings data on Monday, September 8th. The company reported $5.77 EPS for the quarter, topping analysts’ consensus estimates of $5.02 by $0.75. The firm had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.47 billion. Casey’s General Stores had a net margin of 3.54% and a return on equity of 16.73%. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the previous year, the business posted $4.83 earnings per share. As a group, research analysts expect that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey’s General Stores Dividend Announcement

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

Insiders Place Their Bets

In other Casey’s General Stores news, insider Chad Michael Frazell sold 3,487 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $555.40, for a total transaction of $1,936,679.80. Following the completion of the sale, the insider directly owned 7,993 shares in the company, valued at $4,439,312.20. This trade represents a 30.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

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.