Evexia Wealth LLC Increases Ownership in Casey's General Stores

Evexia Wealth LLC has enhanced its investment in Casey's General Stores, Inc. (NASDAQ: CASY) by an impressive 42.7% during the third quarter, according to their recent filing with the Securities and Exchange Commission (SEC). Following this increase, the institutional investor now holds 14,606 shares after acquiring an additional 4,369 shares during the quarter. This investment now represents 1.9% of Evexia Wealth LLC's entire portfolio, positioning it as their 20th largest investment. As of the latest reporting period, the value of their holdings in Casey's General Stores amounted to approximately $5.44 million.

Numerous other institutional investors have also made adjustments to their holdings in Casey's General Stores. For instance, AdvisorNet Financial Inc raised its stake by 10.1% in the second quarter, bringing their total to 317 shares valued at $121,000 after purchasing 29 additional shares. Similarly, Oppenheimer & Co. Inc. raised its stake by 0.3%, now owning 12,769 shares worth about $4.87 million after acquiring 37 more shares.

Another noteworthy increase came from GAMMA Investing LLC, which boosted its stake by 12.8% during the first quarter, totaling 353 shares valued at $112,000 after buying an additional 40 shares. Prairie Wealth Advisors Inc. also made a slight increase, enhancing their holdings by 0.9% during the second quarter and now owning 4,535 shares valued at approximately $1.73 million.

Furthermore, Mckinley Capital Management LLC increased its stake by 1.9% during the first quarter, owning 2,705 shares valued at about $861,000 following the purchase of 50 more shares. Overall, institutional investors and hedge funds control approximately 85.63% of Casey's General Stores stock.

Performance of Casey's General Stores Stock

During mid-day trading on Friday, shares of Casey's General Stores (CASY) rose by $5.02, reaching a price of $385.90. The trading volume reported was 149,791 shares, which is less than the average volume of 276,550. Over the past year, the stock has fluctuated from a low of $260.13 to a high of $401.07. The company's market capitalization stands at $14.32 billion, with a price-to-earnings (PE) ratio of 28.09, and a beta of 0.80. Its 50-day moving average is $372.96 while the 200-day moving average is $354.71. Financial indicators show a quick ratio of 0.44, a current ratio of 0.84, and a debt-to-equity ratio of 0.44.

Recent Earnings Report

On September 4th, Casey's General Stores reported its quarterly earnings, announcing earnings per share (EPS) of $4.83, which exceeded analysts' expectations of $4.54 by $0.29. The company reported a net margin of 3.40% and a return on equity of 17.07%. Revenue for the quarter was recorded at $4.10 billion, slightly under the anticipated $4.15 billion. This shows a year-over-year revenue increase of 5.9%, compared to the same quarter last year when EPS was $4.52. Analysts predict Casey's General Stores will post an EPS of 14.01 for the current fiscal year.

Dividend Announcement

In addition, Casey's General Stores recently declared a quarterly dividend setup for payment on November 15th. Shareholders registered by November 1st will receive a dividend of $0.50 per share. The ex-dividend date is also set for November 1st. This results in an annualized dividend of $2.00, providing a yield of 0.52%. The company currently maintains a dividend payout ratio of 14.56%.

Insider Transactions

In insider news, CEO Darren M. Rebelez sold 13,500 shares of the company on September 6th at an average price of $374.54, totaling approximately $5,056,290. Following this transaction, he holds 73,838 shares valued at around $27,655,284.52, reflecting no change in his ownership percentage. This sale was documented in a filing with the SEC. Additionally, insider Thomas P. Brennan, Jr. sold 3,000 shares on the same day at an average price of $380.24, amounting to approximately $1,140,720. After this sale, he holds 9,044 shares valued at about $3,438,890.56, also indicating no significant change in ownership. Overall, corporate insiders own about 0.56% of the total stock.

Analyst Ratings Overview

Recent analyst reports have focused on shares of Casey's General Stores. Deutsche Bank Aktiengesellschaft has raised its target price for the stock from $420.00 to $444.00, affirming a "buy" rating. Similarly, Royal Bank of Canada boosted its target from $393.00 to $403.00 with a "sector perform" rating, while Evercore ISI increased its target from $410.00 to $435.00, maintaining an "outperform" rating. Benchmark reiterated a "buy" rating, setting a price objective of $410.00. Meanwhile, StockNews.com reduced the rating from "strong-buy" to "buy." In total, one analyst has rated the stock as a sell, two as hold, and nine as buy, resulting in an average rating of "Moderate Buy" with an average target price set at $407.64.

Company Profile

Casey's General Stores, Inc., along with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store brands. Their stores offer a wide variety of products, including pizza, donuts, breakfast items, sandwiches, tobacco products, beverages, snacks, and more. The business model includes providing essential goods and services that meet the convenience needs of consumers in their local communities.

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