Victory Capital Management Inc. Grows Position in Casey’s General Stores, Inc. (NASDAQ:CASY)

Victory Capital Management Inc. grew its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 95.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 125,561 shares of the company’s stock after purchasing an additional 61,368 shares during the period. Victory Capital Management Inc. owned approximately 0.34% of Casey’s General Stores worth $47,909,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Norges Bank purchased a new position in Casey’s General Stores in the fourth quarter valued at about $115,799,000. Congress Asset Management Co. MA purchased a new position in Casey’s General Stores in the 1st quarter valued at approximately $112,081,000. Point72 Asset Management L.P. raised its holdings in Casey’s General Stores by 561.7% during the fourth quarter. Point72 Asset Management L.P. now owns 273,168 shares of the company’s stock worth $75,050,000 after purchasing an additional 231,887 shares during the last quarter. Principal Financial Group Inc. boosted its position in Casey’s General Stores by 113.0% during the first quarter. Principal Financial Group Inc. now owns 291,838 shares of the company’s stock worth $92,936,000 after purchasing an additional 154,803 shares in the last quarter. Finally, DAVENPORT & Co LLC grew its holdings in Casey’s General Stores by 11,242.6% in the first quarter. DAVENPORT & Co LLC now owns 107,641 shares of the company’s stock valued at $34,284,000 after purchasing an additional 106,692 shares during the last quarter. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Casey’s General Stores Price Performance

Shares of NASDAQ:CASY opened at $366.97 on Tuesday. The company has a market cap of $13.62 billion, a P/E ratio of 27.32, a P/E/G ratio of 2.71 and a beta of 0.80. The business has a fifty day simple moving average of $373.37 and a 200-day simple moving average of $343.44. Casey’s General Stores, Inc. has a 52 week low of $238.44 and a 52 week high of $401.07. The company has a quick ratio of 0.44, a current ratio of 0.84 and a debt-to-equity ratio of 0.44.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results on Wednesday, September 4th. The company reported $4.83 EPS for the quarter, beating the consensus estimate of $4.54 by $0.29. The company had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Casey’s General Stores had a return on equity of 17.07% and a net margin of 3.40%. The firm’s revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.52 EPS. Equities research analysts forecast that Casey’s General Stores, Inc. will post 13.45 EPS for the current year.

Casey’s General Stores Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Friday, November 1st. Casey’s General Stores’s dividend payout ratio is currently 14.89%.

Analyst Ratings Changes

Several research firms recently commented on CASY. JPMorgan Chase & Co. boosted their price objective on shares of Casey’s General Stores from $298.00 to $300.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. 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, July 11th. Wells Fargo & Company lifted their price objective on Casey’s General Stores from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Friday. Evercore ISI upped their target price on Casey’s General Stores from $410.00 to $435.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Finally, Royal Bank of Canada raised their price target on Casey’s General Stores from $393.00 to $403.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 5th. Three equities research 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 stock currently has an average rating of “Moderate Buy” and a consensus price target of $401.20.

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.