Independent Solutions Wealth Management LLC Invests $2 Million in Casey’s General Stores, Inc. (NASDAQ:CASY)

Independent Solutions Wealth Management LLC purchased a new stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 5,040 shares of the company’s stock, valued at approximately $1,997,000.

Several other institutional investors also recently modified their holdings of the business. Raymond James Financial Inc. bought a new stake in shares of Casey’s General Stores in the fourth quarter worth approximately $236,500,000. Franklin Resources Inc. grew its position in Casey’s General Stores by 49.9% in the 3rd quarter. Franklin Resources Inc. now owns 524,237 shares of the company’s stock worth $204,861,000 after purchasing an additional 174,586 shares during the period. Benjamin Edwards Inc. grew its position in Casey’s General Stores by 1,819.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 130,291 shares of the company’s stock worth $48,959,000 after purchasing an additional 123,502 shares during the period. Wellington Management Group LLP raised its stake in Casey’s General Stores by 281.4% during the 3rd quarter. Wellington Management Group LLP now owns 164,656 shares of the company’s stock valued at $61,863,000 after buying an additional 121,488 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Casey’s General Stores by 18.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 758,804 shares of the company’s stock valued at $285,090,000 after buying an additional 119,350 shares during the period. 85.63% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Mike Spanos acquired 256 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average price of $390.54 per share, for a total transaction of $99,978.24. Following the acquisition, the director now directly owns 3,356 shares of the company’s stock, valued at $1,310,652.24. This represents a 8.26 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.56% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on CASY. BMO Capital Markets reiterated a “market perform” rating and set a $450.00 price objective (up previously from $400.00) on shares of Casey’s General Stores in a research report on Wednesday, December 18th. Royal Bank of Canada set a $438.00 price target on shares of Casey’s General Stores and gave the company a “sector perform” rating in a research report on Wednesday, March 12th. Evercore ISI dropped their price objective on shares of Casey’s General Stores from $460.00 to $450.00 and set an “outperform” rating on the stock in a report on Tuesday, March 11th. Gordon Haskett upgraded shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Finally, StockNews.com downgraded shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $423.09.

Casey’s General Stores Trading Down 1.8 %

Shares of Casey’s General Stores stock opened at $394.84 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.49 and a current ratio of 0.88. The company has a fifty day moving average of $409.84 and a 200 day moving average of $400.51. The company has a market capitalization of $14.66 billion, a P/E ratio of 27.51, a P/E/G ratio of 2.40 and a beta of 0.87. Casey’s General Stores, Inc. has a fifty-two week low of $306.45 and a fifty-two week high of $445.17.

Casey’s General Stores (NASDAQ:CASY) last released its earnings results on Tuesday, March 11th. The company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.57. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. The firm had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.74 billion. During the same quarter last year, the business posted $2.33 earnings per share. The firm’s revenue was up 17.2% on a year-over-year basis. On average, sell-side analysts anticipate 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 business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend is Thursday, May 1st. Casey’s General Stores’s dividend payout ratio (DPR) is presently 13.94%.

Casey’s General Stores Profile

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.