Los Angeles Capital Management LLC Decreases Stock Holdings in Casey’s General Stores, Inc. (NASDAQ:CASY)

Los Angeles Capital Management LLC lowered its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 51.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,002 shares of the company’s stock after selling 32,975 shares during the quarter. Los Angeles Capital Management LLC owned about 0.08% of Casey’s General Stores worth $9,873,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BKM Wealth Management LLC bought a new stake in shares of Casey’s General Stores in the 4th quarter valued at about $29,000. V Square Quantitative Management LLC acquired a new stake in Casey’s General Stores in the fourth quarter valued at approximately $35,000. McGlone Suttner Wealth Management Inc. purchased a new position in Casey’s General Stores in the fourth quarter worth $36,000. ICA Group Wealth Management LLC acquired a new position in shares of Casey’s General Stores during the fourth quarter worth $41,000. Finally, SRS Capital Advisors Inc. lifted its holdings in shares of Casey’s General Stores by 283.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 165 shares of the company’s stock valued at $45,000 after purchasing an additional 122 shares during the last quarter. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CASY shares. Royal Bank of Canada boosted their target price on Casey’s General Stores from $322.00 to $361.00 and gave the stock a “sector perform” rating in a research note on Wednesday, June 12th. Wells Fargo & Company lifted their target price on shares of Casey’s General Stores from $340.00 to $415.00 and gave the stock an “overweight” rating in a research note on Thursday, June 13th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Casey’s General Stores from $375.00 to $420.00 and gave the company a “buy” rating in a research note on Thursday, June 13th. Evercore ISI dropped their price objective on shares of Casey’s General Stores from $350.00 to $345.00 and set an “outperform” rating on the stock in a report on Tuesday, April 16th. Finally, BMO Capital Markets raised their target price on 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. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $380.11.

Casey’s General Stores Price Performance

CASY opened at $376.83 on Thursday. The firm has a market cap of $13.95 billion, a price-to-earnings ratio of 28.06, a PEG ratio of 2.73 and a beta of 0.83. The company has a current ratio of 0.87, a quick ratio of 0.42 and a debt-to-equity ratio of 0.52. The stock’s 50-day moving average price is $331.76 and its 200 day moving average price is $304.57. Casey’s General Stores, Inc. has a 12-month low of $216.95 and a 12-month high of $389.43.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Tuesday, June 11th. The company reported $2.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.64. The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.47 billion. Casey’s General Stores had a net margin of 3.38% and a return on equity of 17.25%. The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.49 earnings per share. As a group, sell-side analysts expect 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 declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st will be paid a $0.50 dividend. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.43. The ex-dividend date is Thursday, August 1st. This represents a $2.00 annualized dividend and a dividend yield of 0.53%. Casey’s General Stores’s payout ratio is 12.81%.

Casey’s General Stores Profile

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.