Independent Solutions Wealth Management LLC Buys Shares of 5,040 Casey's General Stores, Inc. (NASDAQ:CASY)

Independent Solutions Wealth Management LLC purchased a new position in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 5,040 shares of the company's stock, valued at approximately $1,997,000.

A number of other large investors also recently modified their holdings of the company. YANKCOM Partnership acquired a new position in Casey's General Stores in the fourth quarter valued at approximately $34,000. Endeavor Private Wealth Inc. acquired a new position in shares of Casey's General Stores in the 4th quarter valued at $36,000. MassMutual Private Wealth & Trust FSB grew its position in shares of Casey's General Stores by 24.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 149 shares of the company's stock valued at $59,000 after buying an additional 29 shares during the last quarter. Heck Capital Advisors LLC acquired a new stake in Casey's General Stores during the 4th quarter worth $79,000. Finally, V Square Quantitative Management LLC raised its stake in Casey's General Stores by 32.9% during the 4th quarter. V Square Quantitative Management LLC now owns 210 shares of the company's stock worth $83,000 after acquiring an additional 52 shares in the last quarter. 85.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CASY shares. StockNews.com downgraded shares of Casey's General Stores from a "buy" rating to a "hold" rating in a research note on Saturday, March 8th. Royal Bank of Canada set a $438.00 price target on Casey's General Stores and gave the stock a "sector perform" rating in a research note on Wednesday, March 12th. Evercore ISI reduced their price objective on Casey's General Stores from $460.00 to $450.00 and set an "outperform" rating for the company in a research note on Tuesday, March 11th. BMO Capital Markets reissued a "market perform" rating and issued a $450.00 price objective (up from $400.00) on shares of Casey's General Stores in a report on Wednesday, December 18th. Finally, Gordon Haskett raised shares of Casey's General Stores from a "hold" rating to a "buy" rating in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $423.09.

Remove Ads

Insider Activity

In other Casey's General Stores news, Director Mike Spanos acquired 256 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average price of $390.54 per share, with a total value of $99,978.24. Following the completion of the acquisition, the director now directly owns 3,356 shares of the company's stock, valued at approximately $1,310,652.24. The trade was a 8.26 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.56% of the company's stock.

Casey's General Stores Stock Performance

NASDAQ:CASY traded up $4.92 during midday trading on Tuesday, reaching $417.42. The stock had a trading volume of 345,212 shares, compared to its average volume of 268,781. The company has a quick ratio of 0.49, a current ratio of 0.88 and a debt-to-equity ratio of 0.74. The stock has a market cap of $15.49 billion, a P/E ratio of 29.09, a P/E/G ratio of 2.40 and a beta of 0.87. The firm has a fifty day simple moving average of $410.60 and a two-hundred day simple moving average of $401.67. Casey's General Stores, Inc. has a 12-month low of $306.45 and a 12-month high of $445.17.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its earnings results on Tuesday, March 11th. The company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.57. The business had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.74 billion. Casey's General Stores had a net margin of 3.57% and a return on equity of 17.17%. The business's quarterly revenue was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.33 earnings per share. On average, equities analysts expect that Casey's General Stores, Inc. will post 13.94 EPS for the current year.

Casey's General Stores Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date is Thursday, May 1st. Casey's General Stores's dividend payout ratio (DPR) is 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.