Evexia Wealth LLC Increases Stake in Casey's General Stores, Inc. (NASDAQ:CASY)

Evexia Wealth LLC has recently announced a significant increase in its investment in Casey's General Stores, Inc. (NASDAQ:CASY). According to the company’s latest filing with the Securities and Exchange Commission, Evexia has raised its position by an impressive 42.7% during the third quarter. This move places the firm in ownership of a total of 14,606 shares of Casey's stock after acquiring an additional 4,369 shares in the recent period.

Investment Portfolio Overview

The investment in Casey's General Stores now constitutes 1.9% of Evexia Wealth LLC's overall investment portfolio, making it the firm’s 20th largest holding. By the conclusion of the most recent reporting period, Evexia's holdings in Casey's were valued at approximately $5,440,000.

Other Institutional Investments

In addition to Evexia Wealth LLC, several other institutional investors have either increased or decreased their stakes in Casey's General Stores recently. For instance, AdvisorNet Financial Inc. raised its stake in Casey's by 10.1% during the second quarter, resulting in ownership of 317 shares valued at $121,000 after adding 29 shares. Similarly, Oppenheimer & Co. Inc. boosted its position by 0.3%, accumulating 12,769 shares worth $4,872,000 after purchasing an additional 37 shares in the last quarter.

Additionally, GAMMA Investing LLC heightened its stake by 12.8% in the first quarter, now owning 353 shares valued at $112,000 post-acquisition of 40 more shares. Prairie Wealth Advisors Inc. raised its shares by 0.9% during the same quarter and currently holds 4,535 shares valued at $1,730,000 after buying 40 additional shares. Mckinley Capital Management LLC also reported a 1.9% increase in holdings in the first quarter, now having 2,705 shares valued at $861,000 after procuring 50 more shares. In total, approximately 85.63% of Casey's stock is held by institutional investors and hedge funds.

Casey's General Stores Stock Performance

Shares of Casey's General Stores were trading at $385.90 as of midday Friday, reflecting a gain of $5.02. The trading volume reached 149,791 shares, compared to an average of 276,550. The stock has seen a low of $260.13 and a high of $401.07 over the past year. Currently, the market capitalization stands at $14.32 billion, with a price-to-earnings ratio of 28.09 and a beta of 0.80. The firm exhibits a 50-day simple moving average of $372.96 and a 200-day simple moving average of $354.71. Additionally, the company’s quick ratio is 0.44, the current ratio is 0.84, and the debt-to-equity ratio is 0.44.

Recent Earnings Report

Recently, Casey's General Stores disclosed its quarterly earnings data, indicating that the company earned $4.83 per share for the quarter, surpassing analysts' forecasts of $4.54 by $0.29. With a net margin of 3.40% and a return on equity of 17.07%, the company reported revenue of $4.10 billion, slightly shy of analyst expectations of $4.15 billion. The revenue showed a 5.9% increase compared to the same quarter in the previous year when the company posted $4.52 EPS. Analysts expect Casey's General Stores, Inc. to report an EPS of 14.01 for the current year.

Dividend Declaration

Casey’s General Stores also announced a quarterly dividend, set to be distributed on Friday, November 15th. Shareholders of record on Friday, November 1st will receive a dividend payment of $0.50 per share. With an annualized dividend of $2.00, this represents a yield of 0.52%. The current dividend payout ratio stands at 14.56%.

Insider Trading Activity

In other corporate news, CEO Darren M. Rebelez executed a sale of 13,500 shares on Friday, September 6th, at an average price of $374.54, totaling approximately $5,056,290. Following this sale, he retains ownership of 73,838 shares valued near $27,655,285. This transaction is noted as a 0.00% decrease in ownership. Furthermore, insider Thomas P. Brennan, Jr. sold 3,000 shares around the same date for an average price of $380.24, amounting to a total of $1,140,720. Following this sale, he owns 9,044 shares valued at about $3,438,891, marking a similar 0.00% decrease in ownership.

Analyst Ratings and Future Outlook

Analysts have expressed varied opinions regarding Casey's General Stores (CASY). Deutsche Bank Aktiengesellschaft recently increased its price target for the company from $420.00 to $444.00 and reaffirmed a "buy" rating. Similarly, Royal Bank of Canada raised its target from $393.00 to $403.00, assigning a "sector perform" rating. Evercore ISI also raised its price target from $410.00 to $435.00 with an "outperform" rating, while Benchmark maintained a "buy" rating with a price target of $410.00. Despite fluctuations, one research analyst has issued a sell rating, two a hold rating, and nine analysts recommend a buy, resulting in an average rating of "Moderate Buy" with a target price of $407.64.

Overview of Casey's General Stores

Casey's General Stores, Inc. operates convenience stores under the Casey's and Casey's General Store brands. The company's offerings include pizza, donuts, breakfast items, sandwiches, and various beverages along with health and beauty products, automotive supplies, and lottery services.

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