Private Advisor Group LLC Increases Stake in Casey’s General Stores, Inc. (NASDAQ:CASY)

Private Advisor Group LLC grew its position in Casey’s General Stores, Inc. (NASDAQ:CASY) by 3.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 3,426 shares of the company’s stock after buying an additional 117 shares during the period. Private Advisor Group LLC’s holdings in Casey’s General Stores were worth $1,091,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. BKM Wealth Management LLC bought a new position in Casey’s General Stores during the 4th quarter valued at about $29,000. Rise Advisors LLC bought a new position in Casey’s General Stores during the first quarter valued at approximately $30,000. V Square Quantitative Management LLC purchased a new stake in Casey’s General Stores in the fourth quarter worth approximately $35,000. McGlone Suttner Wealth Management Inc. bought a new stake in Casey’s General Stores in the 4th quarter worth approximately $36,000. Finally, ICA Group Wealth Management LLC purchased a new stake in Casey’s General Stores during the 4th quarter valued at $41,000. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Trading Up 3.4 %

Shares of CASY stock opened at $376.04 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.42 and a current ratio of 0.87. The stock has a fifty day simple moving average of $350.65 and a two-hundred day simple moving average of $315.52. The firm has a market capitalization of $13.96 billion, a PE ratio of 28.00, a PEG ratio of 2.66 and a beta of 0.80. Casey’s General Stores, Inc. has a 52-week low of $238.44 and a 52-week high of $389.43.

Casey’s General Stores (NASDAQ:CASY) last released its 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. Casey’s General Stores had a return on equity of 17.25% and a net margin of 3.38%. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same quarter last year, the business posted $1.49 earnings per share. The firm’s revenue was up 8.2% on a year-over-year basis. On average, analysts predict that Casey’s General Stores, Inc. will post 14.2 EPS for the current fiscal year.

Casey’s General Stores Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Thursday, August 1st. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.43. Casey’s General Stores’s payout ratio is 14.89%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CASY shares. Royal Bank of Canada raised their price target 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. Jefferies Financial Group boosted their price target on 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. Wells Fargo & Company increased their price objective 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. Benchmark boosted their target price on shares of Casey’s General Stores from $350.00 to $410.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. Finally, Northcoast Research upgraded shares of Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $410.00 price target on the stock in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Casey’s General Stores currently has a consensus rating of “Moderate Buy” and an average target price of $383.10.

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.