River Road Asset Management LLC trimmed its position in Casey’s General Stores, Inc. (NASDAQ:CASY – Free Report) by 3.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 71,976 shares of the company’s stock after selling 2,720 shares during the period. River Road Asset Management LLC’s holdings in Casey’s General Stores were worth $39,782,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kera Capital Partners Inc. acquired a new position in shares of Casey’s General Stores during the fourth quarter valued at $516,000. Van Diest Capital LLC bought a new position in Casey’s General Stores in the fourth quarter valued at about $303,000. Compound Planning Inc. increased its position in Casey’s General Stores by 8.6% in the fourth quarter. Compound Planning Inc. now owns 977 shares of the company’s stock worth $540,000 after purchasing an additional 77 shares during the period. Invesco Ltd. increased its position in Casey’s General Stores by 12.6% in the fourth quarter. Invesco Ltd. now owns 572,152 shares of the company’s stock worth $316,234,000 after purchasing an additional 64,154 shares during the period. Finally, Corient Private Wealth LLC raised its holdings in Casey’s General Stores by 115.9% during the 4th quarter. Corient Private Wealth LLC now owns 423,666 shares of the company’s stock worth $234,164,000 after purchasing an additional 227,403 shares during the last quarter. 85.63% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the stock. The Goldman Sachs Group restated a “neutral” rating and set a $695.00 target price on shares of Casey’s General Stores in a research report on Wednesday, June 10th. Zacks Research cut shares of Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 5th. William Blair assumed coverage on shares of Casey’s General Stores in a research note on Wednesday, May 20th. They set an “outperform” rating for the company. JPMorgan Chase & Co. increased their price objective on shares of Casey’s General Stores from $719.00 to $975.00 and gave the company a “neutral” rating in a report on Friday, June 12th. Finally, Royal Bank Of Canada increased their price objective on shares of Casey’s General Stores from $792.00 to $794.00 and gave the company a “sector perform” rating in a report on Wednesday, June 10th. Eleven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $925.25.
Casey’s General Stores Trading Down 1.0%
NASDAQ CASY opened at $842.25 on Friday. The stock has a 50-day simple moving average of $810.32 and a 200 day simple moving average of $694.92. The company has a market capitalization of $31.13 billion, a PE ratio of 43.96, a P/E/G ratio of 2.58 and a beta of 0.61. The company has a current ratio of 1.01, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59. Casey’s General Stores, Inc. has a 12 month low of $490.00 and a 12 month high of $927.85.
Casey’s General Stores (NASDAQ:CASY – Get Free Report) last issued its earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.31 by $1.06. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.The firm had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.33 billion. During the same quarter last year, the business earned $2.63 earnings per share. The company’s revenue was up 14.5% compared to the same quarter last year. Research analysts forecast that Casey’s General Stores, Inc. will post 20.9 EPS for the current year.
Casey’s General Stores Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Saturday, August 1st will be given a $0.65 dividend. The ex-dividend date is Friday, July 31st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.3%. This is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.57. Casey’s General Stores’s dividend payout ratio is 11.90%.
About Casey’s General Stores
Casey’s General Stores, Inc (NASDAQ: CASY) is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.
The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.
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