SevenBridge Financial Group LLC Buys Shares of 4,698 Casey’s General Stores, Inc. $CASY

SevenBridge Financial Group LLC purchased a new position in Casey’s General Stores, Inc. (NASDAQ:CASY) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,698 shares of the company’s stock, valued at approximately $3,678,000.

A number of other large investors have also made changes to their positions in the business. NewEdge Advisors LLC increased its position in Casey’s General Stores by 6.4% during the 1st quarter. NewEdge Advisors LLC now owns 1,871 shares of the company’s stock valued at $812,000 after buying an additional 113 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Casey’s General Stores by 129.6% during the first quarter. Geneos Wealth Management Inc. now owns 186 shares of the company’s stock worth $81,000 after acquiring an additional 105 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Casey’s General Stores by 431.7% during the second quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company’s stock worth $111,000 after acquiring an additional 177 shares during the last quarter. Amundi acquired a new position in shares of Casey’s General Stores during the second quarter valued at about $338,000. Finally, Jump Financial LLC increased its holdings in shares of Casey’s General Stores by 42.6% during the second quarter. Jump Financial LLC now owns 968 shares of the company’s stock valued at $494,000 after acquiring an additional 289 shares in the last quarter. 85.63% of the stock is owned by institutional investors and hedge funds.

Casey’s General Stores Stock Up 0.2%

CASY stock opened at $780.24 on Tuesday. The company has a market capitalization of $28.87 billion, a P/E ratio of 40.72, a price-to-earnings-growth ratio of 2.34 and a beta of 0.61. Casey’s General Stores, Inc. has a 12 month low of $490.00 and a 12 month high of $927.85. The firm’s fifty day simple moving average is $819.20 and its 200-day simple moving average is $706.89. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.60.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, topping the consensus estimate of $3.31 by $1.06. The company had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.33 billion. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period last year, the firm earned $2.63 EPS. As a group, equities research analysts forecast that Casey’s General Stores, Inc. will post 21.05 earnings per share for the current year.

Casey’s General Stores Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Saturday, August 1st will be issued a $0.65 dividend. The ex-dividend date of this dividend is Friday, July 31st. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.57. This represents a $2.60 annualized dividend and a yield of 0.3%. Casey’s General Stores’s dividend payout ratio is 13.57%.

Key Stories Impacting Casey’s General Stores

Here are the key news stories impacting Casey’s General Stores this week:

• Positive Sentiment: Director Mike Spanos purchased 256 shares of Casey’s General Stores at $778.81 per share, a disclosure that can signal insider confidence in the company’s outlook. Insider Buying: Casey’s General Stores (NASDAQ:CASY) Director Purchases 256 Shares of Stock
• Positive Sentiment: BMO Capital Markets upgraded Casey’s General Stores to outperform and lifted its price target to $950, reinforcing the view that the stock still has upside from current levels. This Caseys Analyst Turns Bullish; Here Are Top 3 Upgrades For Monday
• Positive Sentiment: The company increased its quarterly dividend to $0.65 per share from $0.57, which may appeal to income-focused investors and suggests confidence in cash generation. Dividend Increases: From Over 10% Yields to Over 10% Dividend Growth
• Neutral Sentiment: Casey’s also got mentions in stock-picking and dividend-screening articles, which may add some attention but do not appear to be material catalysts on their own. Is Casey’s General Stores, Inc. (CASY) A Good Stock To Buy Now?
• Negative Sentiment: Some analysts remain cautious: Zacks Research downgraded the stock to hold, and RBC’s rating is only sector perform, which tempers the bullish case. Casey’s General Stores stock and analyst coverage

Analyst Ratings Changes

CASY has been the topic of several research analyst reports. Royal Bank Of Canada boosted their target price on shares of Casey’s General Stores from $794.00 to $850.00 and gave the stock a “sector perform” rating in a research report on Thursday. Wells Fargo & Company raised their price target on shares of Casey’s General Stores from $910.00 to $960.00 and gave the stock an “overweight” rating in a report on Thursday, June 11th. Wall Street Zen upgraded shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Morgan Stanley raised shares of Casey’s General Stores to a “buy” rating in a report on Wednesday, June 10th. Finally, Evercore reissued an “outperform” rating and issued a $990.00 target price on shares of Casey’s General Stores in a research report on Friday, June 12th. Thirteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $939.29.

Insider Activity at Casey’s General Stores

In other Casey’s General Stores news, Director Mike Spanos bought 256 shares of Casey’s General Stores stock in a transaction dated Friday, June 26th. The stock was acquired at an average cost of $778.81 per share, with a total value of $199,375.36. Following the purchase, the director directly owned 4,758 shares in the company, valued at $3,705,577.98. This represents a 5.69% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.54% of the stock is owned by company insiders.

About Casey’s General Stores

Casey’s General Stores, Inc (NASDAQ: CASY) is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.