MGO One Seven LLC Raises Stock Holdings in Casey’s General Stores, Inc. (NASDAQ:CASY)

MGO One Seven LLC grew its holdings in Casey’s General Stores, Inc. (NASDAQ:CASY) by 23.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,240 shares of the company’s stock after buying an additional 812 shares during the quarter. MGO One Seven LLC’s holdings in Casey’s General Stores were worth $1,618,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Casey’s General Stores in the fourth quarter valued at about $115,799,000. Congress Asset Management Co. MA purchased a new position in Casey’s General Stores in the 1st quarter valued at about $112,081,000. Point72 Asset Management L.P. lifted its stake in Casey’s General Stores by 561.7% in the 4th quarter. Point72 Asset Management L.P. now owns 273,168 shares of the company’s stock valued at $75,050,000 after buying an additional 231,887 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Casey’s General Stores by 113.0% in the 1st quarter. Principal Financial Group Inc. now owns 291,838 shares of the company’s stock worth $92,936,000 after buying an additional 154,803 shares during the last quarter. Finally, DAVENPORT & Co LLC increased its stake in Casey’s General Stores by 11,242.6% during the 1st quarter. DAVENPORT & Co LLC now owns 107,641 shares of the company’s stock worth $34,284,000 after buying an additional 106,692 shares in the last quarter. 85.63% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Casey’s General Stores news, insider Thomas P. Brennan, Jr. sold 3,000 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $380.24, for a total transaction of $1,140,720.00. Following the transaction, the insider now directly owns 9,044 shares in the company, valued at $3,438,890.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Casey’s General Stores news, insider Thomas P. Brennan, Jr. sold 3,000 shares of Casey’s General Stores stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $380.24, for a total value of $1,140,720.00. Following the completion of the transaction, the insider now directly owns 9,044 shares of the company’s stock, valued at approximately $3,438,890.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Darren M. Rebelez sold 13,500 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $374.54, for a total transaction of $5,056,290.00. Following the sale, the chief executive officer now directly owns 73,838 shares in the company, valued at approximately $27,655,284.52. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CASY has been the topic of several research reports. StockNews.com downgraded Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 3rd. Benchmark reaffirmed a “buy” rating and set a $410.00 target price on shares of Casey’s General Stores in a research note on Tuesday. Evercore ISI increased their target price on shares of Casey’s General Stores from $410.00 to $435.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. BMO Capital Markets raised their price target on shares of Casey’s General Stores from $305.00 to $400.00 and gave the stock a “market perform” rating in a research note on Thursday, June 13th. Finally, Jefferies Financial Group upped their price objective on shares of 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. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Casey’s General Stores has a consensus rating of “Moderate Buy” and an average price target of $401.20.

Casey’s General Stores Price Performance

CASY stock opened at $382.07 on Friday. Casey’s General Stores, Inc. has a 52-week low of $260.13 and a 52-week high of $401.07. The company has a quick ratio of 0.44, a current ratio of 0.84 and a debt-to-equity ratio of 0.44. The stock has a market cap of $14.18 billion, a price-to-earnings ratio of 28.45, a price-to-earnings-growth ratio of 2.71 and a beta of 0.80. The business has a fifty day moving average of $373.69 and a two-hundred day moving average of $344.44.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Wednesday, September 4th. The company reported $4.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.54 by $0.29. The firm had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.15 billion. Casey’s General Stores had a net margin of 3.40% and a return on equity of 17.07%. Casey’s General Stores’s revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the firm earned $4.52 EPS. As a group, research analysts anticipate that Casey’s General Stores, Inc. will post 13.45 earnings per share for the current year.

Casey’s General Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be issued a $0.50 dividend. The ex-dividend date is Friday, November 1st. This represents a $2.00 annualized dividend and a dividend yield of 0.52%. Casey’s General Stores’s dividend payout ratio is currently 14.89%.

About Casey’s General Stores

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.