Bath Savings Trust Co Invests $283,000 in Casey’s General Stores, Inc. (NASDAQ:CASY)

Bath Savings Trust Co acquired a new position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 888 shares of the company’s stock, valued at approximately $283,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CASY. HighTower Advisors LLC grew its stake in shares of Casey’s General Stores by 3.7% during the 3rd quarter. HighTower Advisors LLC now owns 11,773 shares of the company’s stock worth $3,214,000 after purchasing an additional 418 shares during the period. DekaBank Deutsche Girozentrale grew its stake in shares of Casey’s General Stores by 41.8% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 3,677 shares of the company’s stock worth $1,005,000 after purchasing an additional 1,084 shares during the period. Kestra Advisory Services LLC grew its stake in Casey’s General Stores by 9.2% in the 3rd quarter. Kestra Advisory Services LLC now owns 15,533 shares of the company’s stock valued at $4,218,000 after acquiring an additional 1,312 shares during the period. Envestnet Asset Management Inc. grew its stake in Casey’s General Stores by 142.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 242,923 shares of the company’s stock valued at $65,959,000 after acquiring an additional 142,884 shares during the period. Finally, Envestnet Portfolio Solutions Inc. acquired a new stake in Casey’s General Stores in the 3rd quarter valued at $390,000. Institutional investors and hedge funds own 85.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CASY. Northcoast Research cut shares of Casey’s General Stores from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 15th. Royal Bank of Canada lifted their price target on shares of Casey’s General Stores from $322.00 to $361.00 and gave the company a “sector perform” rating in a research note on Wednesday, June 12th. Benchmark lifted their price target on shares of Casey’s General Stores from $350.00 to $410.00 and gave the company a “buy” rating in a research note on Thursday, June 13th. Jefferies Financial Group lifted their price target 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. Finally, BMO Capital Markets lifted their price target on shares of Casey’s General Stores from $305.00 to $400.00 and gave the company a “market perform” rating in a research note on Thursday, June 13th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $380.11.

Casey’s General Stores Stock Down 0.1 %

NASDAQ CASY opened at $376.83 on Thursday. Casey’s General Stores, Inc. has a 52 week low of $216.95 and a 52 week high of $389.43. The company has a quick ratio of 0.42, a current ratio of 0.87 and a debt-to-equity ratio of 0.52. The business’s fifty day simple moving average is $331.76 and its 200-day simple moving average is $304.57. The firm has a market cap of $13.95 billion, a PE ratio of 28.06, a P/E/G ratio of 2.73 and a beta of 0.83.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results on Tuesday, June 11th. The company reported $2.34 EPS for the quarter, topping the consensus estimate of $1.70 by $0.64. Casey’s General Stores had a return on equity of 17.25% and a net margin of 3.38%. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same quarter in the previous year, the firm earned $1.49 EPS. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, equities analysts anticipate that Casey’s General Stores, Inc. will post 14.18 earnings per share for the current year.

Casey’s General Stores Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 1st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.53%. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, August 1st. Casey’s General Stores’s dividend payout ratio (DPR) is presently 12.81%.

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.