WealthPlan Investment Management LLC Cuts Stock Position in Casey’s General Stores, Inc. $CASY

WealthPlan Investment Management LLC decreased its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 4.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 37,070 shares of the company’s stock after selling 1,887 shares during the period. Casey’s General Stores makes up about 1.4% of WealthPlan Investment Management LLC’s portfolio, making the stock its 12th biggest holding. WealthPlan Investment Management LLC’s holdings in Casey’s General Stores were worth $20,956,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Nvwm LLC acquired a new position in shares of Casey’s General Stores during the second quarter worth about $32,000. Rossby Financial LCC raised its holdings in shares of Casey’s General Stores by 580.0% during the 2nd quarter. Rossby Financial LCC now owns 68 shares of the company’s stock valued at $35,000 after buying an additional 58 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in Casey’s General Stores during the 2nd quarter worth approximately $42,000. Osterweis Capital Management Inc. purchased a new position in shares of Casey’s General Stores in the second quarter valued at $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Casey’s General Stores by 242.9% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 96 shares of the company’s stock valued at $49,000 after purchasing an additional 68 shares during the period. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Casey’s General Stores Stock Performance

CASY stock opened at $604.63 on Wednesday. The stock’s fifty day moving average is $557.78 and its two-hundred day moving average is $539.17. The stock has a market capitalization of $22.41 billion, a price-to-earnings ratio of 37.19, a PEG ratio of 2.13 and a beta of 0.67. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.65 and a current ratio of 1.05. Casey’s General Stores, Inc. has a 1 year low of $372.08 and a 1 year high of $610.09.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Tuesday, December 9th. The company reported $5.53 earnings per share for the quarter, beating the consensus estimate of $4.92 by $0.61. The firm had revenue of $4.51 billion for the quarter, compared to the consensus estimate of $4.51 billion. Casey’s General Stores had a return on equity of 16.89% and a net margin of 3.58%.The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.85 EPS. On average, research analysts predict that Casey’s General Stores, Inc. will post 13.94 EPS for the current year.

Casey’s General Stores Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Sunday, February 1st will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Friday, January 30th. Casey’s General Stores’s dividend payout ratio is 14.02%.

Insider Transactions at Casey’s General Stores

In other news, Director Moats Maria Castanon purchased 300 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was purchased at an average cost of $554.66 per share, with a total value of $166,398.00. Following the purchase, the director owned 803 shares in the company, valued at $445,391.98. This trade represents a 59.64% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Stephens boosted their price target on Casey’s General Stores from $570.00 to $600.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of Casey’s General Stores in a research report on Monday, December 29th. Evercore ISI raised their price objective on shares of Casey’s General Stores from $585.00 to $610.00 and gave the stock an “outperform” rating in a report on Tuesday, December 2nd. Wells Fargo & Company boosted their price objective on Casey’s General Stores from $610.00 to $625.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. Finally, Bank of America assumed coverage on Casey’s General Stores in a research report on Friday, January 9th. They issued a “buy” rating for the company. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Casey’s General Stores has an average rating of “Moderate Buy” and an average target price of $595.90.

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.