Marks Group Wealth Management Inc Reduces Stock Position in Casey’s General Stores, Inc. $CASY

Marks Group Wealth Management Inc lowered its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 0.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,231 shares of the company’s stock after selling 140 shares during the period. Marks Group Wealth Management Inc’s holdings in Casey’s General Stores were worth $7,772,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new stake in shares of Casey’s General Stores in the 1st quarter worth about $32,000. Iron Horse Wealth Management LLC lifted its position in shares of Casey’s General Stores by 40.0% in the 1st quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company’s stock worth $40,000 after purchasing an additional 26 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Casey’s General Stores by 242.9% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 96 shares of the company’s stock worth $49,000 after purchasing an additional 68 shares during the period. WPG Advisers LLC purchased a new stake in shares of Casey’s General Stores in the 1st quarter worth about $47,000. Finally, Wayfinding Financial LLC purchased a new stake in shares of Casey’s General Stores in the 1st quarter worth about $59,000. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Stock Performance

Shares of CASY stock opened at $567.48 on Monday. The company has a 50 day moving average price of $526.40 and a 200-day moving average price of $489.36. Casey’s General Stores, Inc. has a 52 week low of $366.00 and a 52 week high of $571.57. The firm has a market capitalization of $21.10 billion, a PE ratio of 36.42 and a beta of 0.68. 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 announced its quarterly earnings results on Monday, September 8th. The company reported $5.77 EPS for the quarter, topping analysts’ consensus estimates of $5.02 by $0.75. Casey’s General Stores had a net margin of 3.54% and a return on equity of 16.73%. The firm had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.47 billion. During the same period in the previous year, the business posted $4.83 earnings per share. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. As a group, equities research analysts expect that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey’s General Stores Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CASY shares. BMO Capital Markets raised their target price on shares of Casey’s General Stores from $515.00 to $540.00 and gave the stock a “market perform” rating in a research report on Wednesday, September 10th. The Goldman Sachs Group raised their target price on shares of Casey’s General Stores from $450.00 to $490.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 10th. Wall Street Zen raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Saturday, June 14th. Royal Bank Of Canada increased their price target on shares of Casey’s General Stores from $468.00 to $542.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 9th. Finally, Evercore ISI increased their price target on shares of Casey’s General Stores from $560.00 to $580.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 10th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Casey’s General Stores has an average rating of “Moderate Buy” and an average target price of $529.10.

Insider Activity

In related 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 value of $1,936,679.80. Following the transaction, the insider owned 7,993 shares of the company’s stock, valued at approximately $4,439,312.20. This trade represents a 30.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.54% 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.