World Equity Group Inc. Has $1.08 Million Stock Position in Casey’s General Stores, Inc. $CASY

World Equity Group Inc. lifted its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 102.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 1,482 shares of the company’s stock after buying an additional 749 shares during the period. World Equity Group Inc.’s holdings in Casey’s General Stores were worth $1,080,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Kathmere Capital Management LLC raised its stake in Casey’s General Stores by 3.5% in the first quarter. Kathmere Capital Management LLC now owns 387 shares of the company’s stock valued at $282,000 after purchasing an additional 13 shares in the last quarter. Pinnacle Bancorp Inc. grew its stake in Casey’s General Stores by 4.8% during the first quarter. Pinnacle Bancorp Inc. now owns 303 shares of the company’s stock worth $221,000 after buying an additional 14 shares in the last quarter. Menard Financial Group LLC increased its holdings in Casey’s General Stores by 1.2% in the 4th quarter. Menard Financial Group LLC now owns 1,267 shares of the company’s stock valued at $700,000 after buying an additional 15 shares during the period. Cibc World Market Inc. increased its holdings in Casey’s General Stores by 0.3% in the 4th quarter. Cibc World Market Inc. now owns 5,136 shares of the company’s stock valued at $2,839,000 after buying an additional 16 shares during the period. Finally, FSB Premier Wealth Management Inc. raised its position in shares of Casey’s General Stores by 0.8% in the 4th quarter. FSB Premier Wealth Management Inc. now owns 2,338 shares of the company’s stock valued at $1,292,000 after buying an additional 18 shares in the last quarter. Institutional investors own 85.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Northcoast Research raised shares of Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $950.00 price target for the company in a report on Monday, July 13th. KeyCorp boosted their price objective on shares of Casey’s General Stores from $950.00 to $970.00 and gave the company an “overweight” rating in a research report on Thursday, June 11th. Weiss Ratings upgraded shares of Casey’s General Stores from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday, July 8th. BMO Capital Markets upgraded Casey’s General Stores from a “market perform” rating to an “outperform” rating and set a $950.00 target price for the company in a research note on Monday, June 29th. Finally, Evercore reaffirmed an “outperform” rating and issued a $990.00 target price on shares of Casey’s General Stores in a report on Friday, June 12th. Fourteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $940.00.

Insider Transactions at Casey’s General Stores

In related news, CEO Darren M. Rebelez sold 19,000 shares of the business’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $801.46, for a total value of $15,227,740.00. Following the sale, the chief executive officer owned 89,174 shares of the company’s stock, valued at $71,469,394.04. The trade was a 17.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the business’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $838.16, for a total transaction of $4,777,512.00. Following the completion of the sale, the chief financial officer directly owned 29,677 shares in the company, valued at approximately $24,874,074.32. This represents a 16.11% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 30,243 shares of company stock worth $24,421,877. 0.54% of the stock is currently owned by insiders.

Casey’s General Stores Stock Performance

NASDAQ:CASY opened at $859.12 on Friday. The stock has a market cap of $31.79 billion, a P/E ratio of 44.84, a price-to-earnings-growth ratio of 2.58 and a beta of 0.62. The company has a current ratio of 1.01, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59. The stock’s 50-day moving average is $822.56 and its 200-day moving average is $731.65. Casey’s General Stores, Inc. has a 1-year low of $490.00 and a 1-year high of $927.85.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.31 by $1.06. The business had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.33 billion. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the business earned $2.63 EPS. Equities research analysts anticipate that Casey’s General Stores, Inc. will post 21.14 earnings per share for the current year.

Casey’s General Stores Increases Dividend

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

Casey’s General Stores Company Profile

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.