Accel Wealth Management Acquires Shares of 741 Casey’s General Stores, Inc. (NASDAQ:CASY)

Accel Wealth Management purchased a new position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 741 shares of the company’s stock, valued at approximately $236,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in CASY. LPL Financial LLC lifted its holdings in shares of Casey’s General Stores by 4.8% during the 3rd quarter. LPL Financial LLC now owns 31,422 shares of the company’s stock worth $8,534,000 after acquiring an additional 1,446 shares during the period. Lazard Asset Management LLC lifted its holdings in shares of Casey’s General Stores by 140.4% during the 3rd quarter. Lazard Asset Management LLC now owns 14,351 shares of the company’s stock worth $3,896,000 after acquiring an additional 8,382 shares during the period. Alps Advisors Inc. lifted its holdings in shares of Casey’s General Stores by 422.3% during the 3rd quarter. Alps Advisors Inc. now owns 19,749 shares of the company’s stock worth $5,362,000 after acquiring an additional 15,968 shares during the period. Lido Advisors LLC bought a new stake in shares of Casey’s General Stores during the 3rd quarter worth approximately $219,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Casey’s General Stores by 3.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 559,532 shares of the company’s stock worth $151,924,000 after acquiring an additional 18,528 shares during the period. Institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Trading Down 1.0 %

CASY opened at $370.26 on Friday. Casey’s General Stores, Inc. has a twelve month low of $238.44 and a twelve month 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 company has a fifty day moving average of $345.87 and a 200-day moving average of $312.22. The stock has a market cap of $13.74 billion, a PE ratio of 27.57, a price-to-earnings-growth ratio of 2.68 and a beta of 0.80.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Tuesday, June 11th. The company reported $2.34 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.64. Casey’s General Stores had a net margin of 3.38% and a return on equity of 17.25%. The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same period in the prior year, the company posted $1.49 earnings per share. Casey’s General Stores’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, sell-side analysts predict that Casey’s General Stores, Inc. will post 14.2 EPS for the current year.

Casey’s General Stores Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, August 1st. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.43. This represents a $2.00 annualized dividend and a dividend yield of 0.54%. Casey’s General Stores’s dividend payout ratio is 12.81%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. BMO Capital Markets increased their price objective 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. Evercore ISI dropped their price objective on shares of Casey’s General Stores from $350.00 to $345.00 and set an “outperform” rating for the company in a research note on Tuesday, April 16th. Royal Bank of Canada increased their price objective 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. Deutsche Bank Aktiengesellschaft increased their price objective 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. Finally, Northcoast Research downgraded shares of Casey’s General Stores from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 15th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Casey’s General Stores currently has an average rating of “Moderate Buy” and a consensus price target of $380.11.

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.