American Century Companies Inc. Increases Stock Position in Casey’s General Stores, Inc. (NASDAQ:CASY)

Posted by Defense World Staff on Jun 9th, 2023

American Century Companies Inc. raised its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY – Get Rating) by 19.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 65,023 shares of the company’s stock after buying an additional 10,755 shares during the quarter. American Century Companies Inc. owned about 0.17% of Casey’s General Stores worth $14,588,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its holdings in shares of Casey’s General Stores by 152.8% during the first quarter. Goldman Sachs Group Inc. now owns 384,281 shares of the company’s stock valued at $76,153,000 after acquiring an additional 232,277 shares in the last quarter. Wedge Capital Management L L P NC bought a new position in shares of Casey’s General Stores during the fourth quarter valued at $33,861,000. Renaissance Technologies LLC increased its holdings in shares of Casey’s General Stores by 2,025.8% during the third quarter. Renaissance Technologies LLC now owns 118,872 shares of the company’s stock valued at $24,074,000 after acquiring an additional 113,280 shares in the last quarter. Weiss Multi Strategy Advisers LLC bought a new position in shares of Casey’s General Stores during the first quarter valued at $21,799,000. Finally, WealthPlan Investment Management LLC bought a new position in shares of Casey’s General Stores during the third quarter valued at $17,160,000. Hedge funds and other institutional investors own 84.74% of the company’s stock.

Casey’s General Stores Trading Up 1.0 %

Shares of NASDAQ:CASY opened at $219.81 on Friday. The stock has a market capitalization of $8.19 billion, a price-to-earnings ratio of 18.44 and a beta of 0.82. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.66 and a current ratio of 1.10. The stock’s 50-day simple moving average is $226.77 and its two-hundred day simple moving average is $225.46. Casey’s General Stores, Inc. has a 52-week low of $181.40 and a 52-week high of $249.90.

Casey’s General Stores (NASDAQ:CASY – Get Rating) last announced its earnings results on Wednesday, June 7th. The company reported $1.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.64 by ($0.15). Casey’s General Stores had a return on equity of 17.40% and a net margin of 2.96%. The firm had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.38 billion. During the same period in the previous year, the business posted $1.60 earnings per share. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. Analysts expect that Casey’s General Stores, Inc. will post 10.3 EPS for the current year.

Casey’s General Stores Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st will be given a dividend of $0.43 per share. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.38. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend is Monday, July 31st. Casey’s General Stores’s payout ratio is presently 12.75%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CASY shares. Northcoast Research upgraded Casey’s General Stores from a “neutral” rating to a “buy” rating and raised their price target for the company from $247.00 to $270.00 in a report on Friday, April 14th. Deutsche Bank Aktiengesellschaft lifted their price objective on Casey’s General Stores from $285.00 to $294.00 and gave the stock a “buy” rating in a report on Thursday, March 9th. Wells Fargo & Company reduced their price objective on Casey’s General Stores from $270.00 to $250.00 in a report on Thursday. Stephens reiterated an “overweight” rating and issued a $280.00 price objective on shares of Casey’s General Stores in a report on Wednesday, March 8th. Finally, Benchmark reiterated a “buy” rating and issued a $275.00 price objective on shares of Casey’s General Stores in a report on Thursday, March 9th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $257.30.

Casey’s General Stores Profile

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Casey’s General Stores, Inc engages in the management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.

Institutional Ownership by Quarter for Casey's General Stores (NASDAQ:CASY)

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