Independent Solutions Wealth Management LLC Makes New Investment in Casey’s General Stores, Inc. (NASDAQ:CASY)

Independent Solutions Wealth Management LLC purchased a new stake in Casey’s General Stores, Inc. (NASDAQ:CASY) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 5,040 shares of the company’s stock, valued at approximately $1,997,000.

Other hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in Casey’s General Stores in the fourth quarter worth approximately $236,500,000. Franklin Resources Inc. raised its position in shares of Casey’s General Stores by 49.9% in the 3rd quarter. Franklin Resources Inc. now owns 524,237 shares of the company’s stock worth $204,861,000 after acquiring an additional 174,586 shares in the last quarter. Benjamin Edwards Inc. lifted its stake in shares of Casey’s General Stores by 1,819.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 130,291 shares of the company’s stock worth $48,959,000 after purchasing an additional 123,502 shares during the last quarter. Wellington Management Group LLP boosted its position in Casey’s General Stores by 281.4% during the third quarter. Wellington Management Group LLP now owns 164,656 shares of the company’s stock valued at $61,863,000 after purchasing an additional 121,488 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Casey’s General Stores by 18.7% during the third quarter. JPMorgan Chase & Co. now owns 758,804 shares of the company’s stock valued at $285,090,000 after purchasing an additional 119,350 shares in the last quarter. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Insider Activity

In other news, Director Mike Spanos bought 256 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was purchased at an average cost of $390.54 per share, with a total value of $99,978.24. Following the acquisition, the director now directly owns 3,356 shares in the company, valued at $1,310,652.24. This trade represents a 8.26 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.56% of the company’s stock.

Casey’s General Stores Price Performance

Shares of NASDAQ:CASY opened at $394.84 on Friday. Casey’s General Stores, Inc. has a twelve month low of $306.45 and a twelve month high of $445.17. The company has a current ratio of 0.88, a quick ratio of 0.49 and a debt-to-equity ratio of 0.74. The company has a market cap of $14.66 billion, a PE ratio of 27.51, a price-to-earnings-growth ratio of 2.40 and a beta of 0.87. The company’s 50 day moving average is $409.84 and its 200 day moving average is $400.51.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings data on Tuesday, March 11th. The company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.57. The firm had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.74 billion. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. The business’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.33 earnings per share. On average, sell-side analysts forecast that Casey’s General Stores, Inc. will post 13.94 EPS for the current year.

Casey’s General Stores Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, May 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.51%. Casey’s General Stores’s payout ratio is currently 13.94%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Gordon Haskett raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. BMO Capital Markets reissued a “market perform” rating and issued a $450.00 price objective (up previously from $400.00) on shares of Casey’s General Stores in a research report on Wednesday, December 18th. StockNews.com lowered Casey’s General Stores from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Evercore ISI lowered their price target on Casey’s General Stores from $460.00 to $450.00 and set an “outperform” rating for the company in a report on Tuesday, March 11th. Finally, Royal Bank of Canada set a $438.00 price objective on shares of Casey’s General Stores and gave the company a “sector perform” rating in a report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $423.09.

About Casey’s General Stores

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.