SeaCrest Wealth Management LLC Invests $225,000 in Casey’s General Stores, Inc. (NASDAQ:CASY)

SeaCrest Wealth Management LLC acquired a new position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 708 shares of the company’s stock, valued at approximately $225,000.

Other institutional investors have also modified their holdings of the company. BKM Wealth Management LLC purchased a new stake in shares of Casey’s General Stores during the 4th quarter worth $29,000. Rise Advisors LLC purchased a new position in Casey’s General Stores during the 1st quarter worth approximately $30,000. V Square Quantitative Management LLC acquired a new position in Casey’s General Stores during the fourth quarter worth approximately $35,000. McGlone Suttner Wealth Management Inc. purchased a new stake in Casey’s General Stores in the fourth quarter valued at approximately $36,000. Finally, ICA Group Wealth Management LLC acquired a new stake in shares of Casey’s General Stores in the fourth quarter valued at approximately $41,000. 85.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Royal Bank of Canada increased their price target on shares of Casey’s General Stores from $322.00 to $361.00 and gave the stock a “sector perform” rating in a research note on Wednesday, June 12th. Northcoast Research cut Casey’s General Stores from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 15th. Jefferies Financial Group lifted their target price on Casey’s General Stores from $342.00 to $445.00 and gave the company a “buy” rating in a research note on Wednesday, June 12th. Evercore ISI cut their price target on Casey’s General Stores from $350.00 to $345.00 and set an “outperform” rating for the company in a research note on Tuesday, April 16th. Finally, StockNews.com lowered shares of Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 20th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Casey’s General Stores currently has a consensus rating of “Moderate Buy” and a consensus target price of $380.11.

Casey’s General Stores Trading Down 1.0 %

NASDAQ:CASY opened at $370.26 on Friday. Casey’s General Stores, Inc. has a 1 year low of $238.44 and a 1 year high of $389.43. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.42 and a current ratio of 0.87. The stock has a fifty day moving average price of $345.87 and a two-hundred day moving average price of $312.22. The stock has a market capitalization of $13.74 billion, a price-to-earnings ratio of 27.57, a PEG ratio of 2.70 and a beta of 0.80.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results on Tuesday, June 11th. The company reported $2.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.64. Casey’s General Stores had a net margin of 3.38% and a return on equity of 17.25%. The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.47 billion. During the same period in the prior year, the company posted $1.49 EPS. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Casey’s General Stores, Inc. will post 14.2 earnings per share for the current fiscal year.

Casey’s General Stores Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st will be issued a $0.50 dividend. The ex-dividend date is Thursday, August 1st. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.43. This represents a $2.00 dividend on an annualized basis and a yield of 0.54%. Casey’s General Stores’s dividend payout ratio (DPR) is 12.81%.

Casey’s General Stores Company Profile

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. Its stores offer pizza, donuts, breakfast items, and sandwiches; and tobacco and nicotine products. The company's stores provide soft drinks, energy, water, sports drinks, juices, coffee, and tea and dairy products; beer, wine, and spirits; snacks, candy, packaged bakery, and other food items; ice, ice cream, meals, and appetizers; health and beauty aids, automotive products, electronic accessories, housewares, and pet supplies; and ATM, lotto/lottery, and prepaid cards.