Tyche Wealth Partners LLC Invests $751,000 in Casey’s General Stores, Inc. (NASDAQ:CASY)

Tyche Wealth Partners LLC bought a new position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 1,896 shares of the company’s stock, valued at approximately $751,000.

A number of other institutional investors have also made changes to their positions in CASY. Endeavor Private Wealth Inc. acquired a new stake in Casey’s General Stores in the fourth quarter valued at $36,000. Venturi Wealth Management LLC raised its holdings in Casey’s General Stores by 941.7% in the third quarter. Venturi Wealth Management LLC now owns 125 shares of the company’s stock valued at $47,000 after acquiring an additional 113 shares in the last quarter. V Square Quantitative Management LLC raised its holdings in Casey’s General Stores by 22.5% in the third quarter. V Square Quantitative Management LLC now owns 158 shares of the company’s stock valued at $59,000 after acquiring an additional 29 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in Casey’s General Stores by 24.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 149 shares of the company’s stock valued at $59,000 after acquiring an additional 29 shares in the last quarter. Finally, Kennebec Savings Bank acquired a new stake in Casey’s General Stores in the third quarter valued at $76,000. 85.63% of the stock is owned by institutional investors and hedge funds.

Casey’s General Stores Stock Performance

Shares of CASY opened at $429.42 on Thursday. The firm has a 50-day moving average price of $408.32 and a 200 day moving average price of $392.76. The firm has a market capitalization of $15.94 billion, a PE ratio of 29.92, a P/E/G ratio of 2.40 and a beta of 0.83. The company has a quick ratio of 0.49, a current ratio of 0.88 and a debt-to-equity ratio of 0.74. Casey’s General Stores, Inc. has a 52-week low of $272.46 and a 52-week high of $439.68.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Monday, December 9th. The company reported $4.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.29 by $0.56. The firm had revenue of $3.95 billion during the quarter, compared to analyst estimates of $4.03 billion. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. Casey’s General Stores’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.24 EPS. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 17th. Stockholders of record on Monday, February 3rd will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.00 annualized dividend and a dividend yield of 0.47%. Casey’s General Stores’s dividend payout ratio (DPR) is 13.94%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Royal Bank of Canada increased their target price on shares of Casey’s General Stores from $403.00 to $428.00 and gave the stock a “sector perform” rating in a report on Tuesday, December 10th. Evercore ISI increased their target price on shares of Casey’s General Stores from $460.00 to $470.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. StockNews.com cut shares of Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a report on Friday, December 13th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Casey’s General Stores from $451.00 to $454.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $450.00 target price (up from $400.00) on shares of Casey’s General Stores in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $424.00.

Insider Activity

In other news, Director Mike Spanos acquired 500 shares of Casey’s General Stores stock in a transaction on Monday, December 23rd. The stock was bought at an average cost of $396.76 per share, with a total value of $198,380.00. Following the completion of the purchase, the director now owns 3,097 shares of the company’s stock, valued at $1,228,765.72. This represents a 19.25 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Katrina S. Lindsey sold 450 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $427.13, for a total transaction of $192,208.50. Following the completion of the sale, the insider now directly owns 2,247 shares of the company’s stock, valued at $959,761.11. This trade represents a 16.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.56% of the company’s stock.

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.